From designing India’s first fighter jet to launching IGP, Tarun Joshi’s startup story

Adgully has been turning the spotlight on the entrepreneurs who fought against all odds to bring their dreams to fruition in our special series – START-UP STARS. We, at Adgully, wholeheartedly support the ‘Vocal for Local’ movement and have been featuring numerous local/ homegrown businesses, brands, and Apps in the country launched in the last few years.

IGP.com (formerly known as IndianGiftsPortal.com) is one of India’s largest multi-category gifting companies, providing one of the best curated collections of festival merchandise, gifts, fresh flowers, cakes, plants, gourmet foods and personalised products for all occasions and festivals. The firm has a global footprint with customers spanning across 100+ countries and capability to deliver gifts to over 150 countries and 300-plus cities in India. IGP has brought to consumers India’s first ever Gift Discovery platform, taking a massive leap forward in addressing consumers’ gifting needs. IGP is the exclusive India partner of Interflora, the world’s largest floral gifting company.

The company is headquartered in Mumbai and has over 300 employees across its offices in Mumbai, Delhi, Bangalore, Hyderabad, Kolkata, Lucknow, Jaipur, Pune, Singapore and California. IGP has been recognised as one of the fastest growing companies in India with FY 2020 revenues of over $30 million.

In an interaction with Adgully, Tarun Joshi, Co-Founder IGP, shares the fascinating story of how he has come a long way from designing India’s first fighter aircraft and world’s first biometric ATM to launching IGP, which has become India’s largest D2C platform for gifting and occasions.

Please take us through your journey as an entrepreneur. What motivated you to establish the company?

I have a technology background and had worked on designing India’s first fighter aircraft and world’s first biometric ATM. Post that I spent over 12 years in two renowned private equity firms (3i and CVCI), where I led and managed investments worth over $500 million in India. Apart from this, I have also invested in startups in various sectors, including E-commerce, Financial Services, Technology, and Consumer businesses. Through my technology and investing experience, I recognised the potential for innovation and creativity in the D2C brands and gifting space, which have a huge untapped potential.

I noticed a significant gap in the gifting market for a reliable platform that could offer high-quality and unique products, as well as exceptional delivery experiences. This gap inspired me to explore the income-generating potential of a technology-driven gifting platform that could provide skilled but disorganised artisans living in remote areas of India with new opportunities to promote their handmade products globally. Despite the vast celebration ecosystem in India, only a few companies served it at scale, and they lacked a robust supply chain, transparent last-mile delivery, and personalised options. In response, I founded IGP, which has become India’s largest D2C platform for gifting and occasions, offering a personalised and carefully curated selection of gifts for various occasions, festivals, and special days.

I recognised the immense potential for success in the celebratory space and expanded my efforts beyond IGP. In 2017, I launched the Indian chapter of Interflora, an international flower gifting service, and in 2020, I established Join Ventures, a house of D2C brands for celebrations. My vision is to leverage world-class technology to provide Indians across the globe with a convenient and joyful online shopping experience for all their festive needs.

What was the need of this brand as per consumers’ perspective? What is the core business proposition?

From a consumer's perspective, the need for a brand like IGP was to help consumers strengthen their relationships via a reliable and trusted platform that provides high-quality, unique, and personalised options for various occasions, festivals, and special moments. The brand addressed the gap in the market for a comprehensive and end-to-end gifting solution that provided a curated catalogue of gifts, a robust supply chain, transparent last-mile delivery, and personalised options.

The core business proposition of IGP is to create a technology-driven gifting platform that leverages the talents of skilled. but disorganised artisans living in remote parts of India to offer a vast selection of handmade and unique products for gifting purposes. IGP aims to be the most preferred gifting destination for both Indians and NRIs by providing a personalised and curated selection of gifts for various occasions, festivals, and special days. IGP offers a hassle-free gifting experience to customers by taking care of the entire process, from product selection to doorstep delivery.

What have been your key learnings so far? How do you see the company progressing in 2023?

I believe some of the key learnings for IGP so far include the importance of having a strong, automated and reliable supply chain, personalised and curated product offerings, and exceptional customer service.

In terms of the company’s ecosystem progressing in 2023, I anticipate that IGP will continue to grow and expand its reach, both in India and globally. IGP’s focus on offering unique and personalised gifting options helps it stand out in the market, and our emphasis on using technology to provide a superior customer experience should continue to drive growth. Furthermore, the increasing demand for e-commerce and online gifting platforms is working in IGP’s favour, as more consumers turn to online gifting for variety and convenience.

How is digital helping you further your business?

We are a digitally exclusive D2C brand. We have leveraged digital technology to transform the traditional gifting experience, making it more convenient, accessible, and personalised for our customers.

Through our website and mobile app, we have created a seamless and user-friendly interface that enables customers to easily browse and purchase from our curated collection of gifts for various occasions. We have also incorporated advanced technologies such as AI and machine learning into our platform, allowing us to offer real-time personalisation and recommendations to our customers based on their preferences and browsing history.

How did you identify your TG? Did you carry out any feasibility study prior to starting your business?

As a founder, I identified my TG by understanding the market gap and studying the consumer behaviour patterns. I realised that the gifting industry in India lacked a reliable, organised, and transparent platform that could offer high-quality products and personalised services for various occasions, festivals, and special days. Hence, I targeted the Indian population, both domestically and abroad, who seek a hassle-free and unique gifting experience.

To assess the feasibility of the business idea, we conducted extensive market research and analysis, including consumer surveys, competitor analysis, and demand forecasting. We evaluated the potential of the gifting industry in India and the market trends, as well as identified the key pain points of consumers in the current gifting landscape. This helped us design and develop a business model that could meet the needs and expectations of our target audience, while also generating revenue and growth opportunities for the company.

Overall, our feasibility study provided us with valuable insights into the market potential, consumer behaviour, and competitive landscape, which helped us make informed decisions and design an effective business strategy.

What were the challenges that you faced in your start-up journey and how did you overcome them?

Like any other Direct-to-Consumer (D2C) business in the initial stage, we faced several challenges in our journey. One of the most significant challenges was navigating a disorganised market that required disruption and innovation through proprietary technology. We recognized the potential for technology to revolutionise the gifting industry, but implementing cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning was no easy feat. The next big challenge was solving the supply chain, which required us to create a vertically integrated model starting from rural artisans to doorstep delivery experience to our consumers in over 100 countries.

In the early stages of our journey, both D2C as a business model and these technologies were still evolving, which meant that we had to create a proprietary tech solution from scratch. Despite the challenges, we remained committed to our vision and persevered with our efforts. As a result, we were able to introduce the first-ever gift discovery platform with real-time personalization in India through IGP.com.

Our focus on developing and integrating innovative technology into our platform and supply chain has allowed us to differentiate ourselves in a highly competitive market, providing a seamless and personalised gifting experience to our customers.

What would be your message for budding entrepreneurs?

My message to the budding entrepreneurs is that entrepreneurship is all about perseverance and ability to execute. If you get these two right, you can scale up your ideas to create large businesses. During this journey, be open to feedback and collaboration, as no one can succeed alone. Seek out mentors and advisors who can provide guidance and support, and build a strong team that shares your vision and values. Most importantly, don’t be afraid to fail. Every failure is an opportunity to learn and grow, and it takes courage to take risks and pursue your dreams. Stay true to your passion and purpose, and believe in yourself and your ideas. Lastly, always remember that entrepreneurship is a journey, not a destination, and it requires hard work and dedication to achieve your goals.