Nihal Mariwala could have sat pretty in his family’s pharmaceuticals firm OmniActive – a B2B venture, his father was running successfully in the US. But the startup itch caught up with him and he decided to break free to venture solo. The result is the launch of a wellness startup firm called Setu (www.setu.in), a v-commerce platform that aims to offer high quality dietary supplements and nutritional solutions. The site went live last month.
During his stint at the OmniActive offices in US, 26-year-old Mariwala noticed a strong trend where consumers were well-informed about their bodies’ daily dietary needs and make independent choices about dietary supplements without the need of a doctor. Given the context of the alarming incidence of lifestyle diseases in India, he felt he could bring the US health culture to India and help people to take charge of their own health and make educated choices to live a healthier lifestyle.
“We have the in-house expertise being in the Neutraceutical business for some years now, says Mariwala. OmniActive is an ingredient supplier across the dietary supplement and functional food sphere across the world, he says. “Setu’s advanced natural solutions are crafted to strengthen body functions to solve and check conditions induced by present-day lifestyles. We have four decades of global experience in manufacturing the most optimal natural ingredients through modern technology and nutritional science. Setu is bringing together out strengths in ingredient technology and years of consumer understanding to the digital industry,” says Mariwala.
Setu means “bridge” in Sanskrit. Mariwala says that his goal is to bridge the gap between a hectic, modern life and a healthy lifestyle. Setu offers 13 products within 5 broad categories — vision, liver, heart, diabetes, and gut. Apart from offering products, the startup will also provide content and mobilize communities to help consumers to make informed health choices. Besides Mariwala in India, the startup has a partner in the product space in the US. After six months, Setu hopes to expand its product portfolio. It is focussed on big metros such as Tier 1 and Tier 2 cities in the initial phase.
Started with ‘less than Rs 1 crore’ from personal savings and the parent company, Setu will only focus on online marketing and promotion as of now. Offline promotion will be done through gymnasiums and nutritionists among others. “My real asset is the marketing team. Of this is 4 are focussed on creating content online,” he says.
The online space has a number of products in the health and nutrition space. According to FICCI and PWC, the industry is growing at a pace of 27 percent every year and is expected to touch Rs 1.5 trillion by 2020. The age group that Mariwala is targeting is 30-45 years of age as that is the age when most professionals are in their mid-career and follow ‘work and party hard’ rule.
He says that Setu’s price range is on the higher side. The startup hopes to break even in two years time. “It all depends on marketing. We haven’t seen anyone take the digital route to marketing in India,” says Mariwala. The only company that has done well is an American firm in the health and wellness space, he says, and has done well.
Published Date: Oct 04, 2017 03:10 pm
| Updated Date: Oct 04, 2017 03:10 pm