Pulkit Chhabra is a seasoned entrepreneur with a track record of success, having founded multiple ventures, both VC-backed and bootstrapped, with a strong focus on E-commerce and Consumer Brands. His latest endeavour is Nuvr, which is one of India’s first full-stack and tech-enabled E-commerce Growth Accelerator.
About Nuvr
Nuvr partners with offline-focused consumer brands and manufacturers to accelerate their online business. Their focus sales channels span across e-commerce marketplaces (Amazon, Flipkart, Myntra, Nykaa, etc.), Quick Commerce platforms (Blinkit, Swiggy Instamart, Zepto), E-Grocers (BigBasket, Amazon Fresh, Flipkart Grocery) as well as D2C channels. The company provides comprehensive support and enablement to brands, covering various aspects of e-commerce operations, including category & brand management, marketing & advertising management, catalog management and supply chain optimization to name a few.
They typically operate on a revenue-share and profit-share model, which gives them skin in the game and ensures a win-win between the Brand Partner and them with a long-term outlook of online success.
Since its inception, Nuvr has experienced significant success in scaling the online sales of several consumer brands. Pulkit’s vision for Nuvr includes not only serving Indian customers but also expanding internationally, targeting markets in the US, UK, Australia, and the Middle East.
Interviewer: What happens after a consumer brand reaches out to you, and how does Nuvr help?
Pulkit: “We have received good interest in the market and most of our portfolio brands have been either inbound or via a strong referral. Once a brand reaches out to us, we evaluate their potential for online growth along with the synergies in working with us and selectively partner with them through long-term contracts. Brands that we partner with are usually offline-focussed with existing presence in General Trade, Modern Trade, HoReCa or B2B segments. They try to replicate their offline strategy online but that typically doesn’t work. So we work with them right from curating the right product assortment, pricing, promotions & discounting strategy, marketing & advertising budgets while representing the brand in front of all online platforms and negotiating the best possible margin structures and commissions with an ROI focus while keeping the brand’s long-term business health and profitability in check. We essentially run their entire e-commerce business and become their ‘extended e-commerce team’. So for the brand, we are like their own commerce team; just that we are not sitting in their office.”
Drawing Inspiration
Chhabra’s inspiration for Nuvr came from his experience while running his other venture, Evenflow Brands, an e-commerce rollup and house of brands where he specialized in acquiring online-first consumer brands and scaling them up.
During this time, he noticed a gap in the market – many offline-first brands were seeking assistance in launching and scaling their online business but were not interested in selling their businesses.
Recognizing this opportunity, Chhabra conceptualized Nuvr to address the need for e-commerce growth acceleration for offline-focused consumer brands. He aims to help these traditional brands scale up online across various e-commerce and quick-commerce platforms. Leveraging Pulkit’s expertise and a team of industry experts, Nuvr offers end-to-end growth services spanning across all the key functional areas of running and scaling a brand online.
Having experienced both successes and failures in his entrepreneurial journey, Chhabra brings a wealth of experience and knowledge to Nuvr. His hands-on approach, coupled with a passion for e-commerce and consumer brands, drives the company’s mission to empower traditional brands to navigate the digital landscape and achieve sustainable growth online.
The Current Market
Pulkit emphasises that while many agencies provide e-commerce services mostly across only one or two functional areas, there are none that can actually handle everything for the brands end-to-end and essentially become their ‘extended e-commerce team’.
Interviewer: So, there are no big competitors in the market?
Pulkit: “We have not been able to find a direct competitor that works in the same model or fashion as we do. There are many agencies that will handle some parts of the business, like Amazon advertising, social media marketing, and product photography, among others. But there is nobody who’s doing this in the way we are doing it. We are an Accelerator and not an agency, with comprehensive and end-to-end in-house capabilities and technology across functional areas to scale our Partner Brands. So there is no direct competitor that we have found so far. But I’m hoping that more ventures like ours come to the market because it’s a strong need and there is space for many such ventures to co-exist. ”
Navigating Challenges
The challenges faced by the company revolve around maintaining the quality of the team, particularly in a service-oriented business where the cost of people is a significant factor. While some service providers may compromise on team quality to maximize profits, Nuvr has opted to hire the best talent in the market, even if it comes at a higher cost.
This commitment to quality has posed challenges but is a strategic long-term investment. Nuvr aims to position itself as the McKinsey of the e-commerce world, partnering with select brands and prioritising quality over quantity. The team comprises individuals with prior experience at top companies such as Amazon, Uber, Wakefit, UrbanCompany, Bombay Shaving Company, WeWork, Origami Tissues, and Evenflow Brands.
Achievements So Far
Nuvr’s achievements are notable in several key areas. Firstly, the company has succeeded in establishing partnerships with top brands across various product categories. Nuvr has partnered with industry giants such as Origami Tissues, CLEAR water, and Konex Sports, with annual revenues ranging up to INR 400 crores respectively in their offline business.
Secondly, despite its relatively short operational period of just 9 months, Nuvr has displayed impressive financial performance. The company is on track to cross a revenue milestone of INR 1 crore by the end of the 2023-24 financial year, a significant feat considering its rapid growth trajectory. Pulkit also adds that Nuvr has maintained profitability since its inception.
Furthermore, Nuvr’s strategic approach to growth is evident in its deliberate focus on silent building. While many companies prioritize extensive PR and media activities, Nuvr has opted for a more low-key approach, yet its achievements speak volumes about its success.
Future Plans
Nuvr aims to continue its growth trajectory, with ambitious business goals set out for the upcoming years.
In the upcoming financial year, Nuvr aims to focus on expanding its revenue to INR 10 crores while also venturing into international markets, targeting customers in the US, UK, Australia, and the Middle East.
Inspired by the success stories of companies like Wipro, Nuvr aspires to become a digital conglomerate with a diverse portfolio of businesses and would like to go public through an IPO in five to seven years.
Lessons Learned
Some key lessons learned from Pulkit’s journey include the importance of maintaining unwavering optimism and passion, even during the toughest days of entrepreneurship. He reminds the emerging entrepreneurs,
“Revenue & Profit are the real metrics, don’t get lost in other vanity metrics.”
Pulkit also emphasizes the significance of building for the customer and prioritizing their needs, recognizing that customer satisfaction is integral to success. Lastly, it’s essential to separate oneself from the business and not take things too personally, navigating both highs and lows objectively and always prioritizing the company’s interests above all else. Happy Entrepreneurship!
