Minu Margeret Building Blissclub and Changing the Activewear Game for Women

In the world of entrepreneurship, success often comes after a journey filled with lessons learned and challenges conquered. Minu Margeret entrepreneurial voyage is a testament to this truth. She’s the founder of Blissclub, an activewear brand for women, and her path to success is marked by resilience, innovation, and a passion for creating impact. Minu Margeret began her corporate career in 2011 as a business analyst at Goldman Sachs. However, her entrepreneurial spirit soon led her to explore side gigs. She sought an idea that could take flight, much like a Frisbee needing the right lift and spin. Her first attempt was “Rent Your Wardrobe,” a startup focused on renting clothes, inspired by the American firm ‘Rent The Runway.’ The concept was logical, catering to young professionals and college students who found buying party clothes expensive. Unfortunately, the venture was aborted at the pilot stage due to operational complexities.

Margeret’s next venture was an automated laundromat for colleges on the outskirts of Bengaluru. The idea was sound, given the demand for such services, but operational challenges proved overwhelming. Despite having a co-founder, investing her savings, and dedicating herself to the business, it faced multiple setbacks and eventually had to be shut down. These early experiences taught Margeret valuable lessons, primarily that both ventures had too much drag and too little lift to take off successfully. Minu Margeret’s pursuit of entrepreneurship was temporarily paused as she explored different roles. She joined Wipro as a senior pricing analyst but soon realized her entrepreneurial itch was far from satisfied. She decided to shift gears and gain a broader understanding of the business world.

After a brief stint at Hindustan Unilever Limited (HUL), she pursued an MBA at the Indian School of Business (ISB). Post-MBA, she worked at AB InBev and PhonePe, constantly evolving and adding layers to her skillset. However, the entrepreneurial fire within her remained unquenched. After eight years in the corporate world, she decided to take the plunge again, but this time with unwavering commitment. Margeret’s entrepreneurial journey began with two significant challenges. The first was discouragement from some who questioned her decision due to her gender. Margeret firmly rejected the notion that her entrepreneurial aspirations were related to starting a family. She emphasized that her passion for entrepreneurship was her driving force, not her gender.

The second challenge was finding a co-founder. Margeret discovered that locating a co-founder who shared her level of commitment and vision was no easy feat. While she initially sought a co-founder who could relate to her women-first activewear concept, the search proved futile. Undeterred, Margeret decided to go solo and launched Blissclub in 2020. Her vision was to create a brand that addressed the unique needs of women in the activewear space. She drew inspiration from her experience as a national-level Ultimate Frisbee player and her quest for the perfect activewear products.

Blissclub’s journey wasn’t without its share of challenges. When seeking investors, Margeret encountered some who had misconceptions about her business. Some assumed she was simply making leggings and failed to grasp the unique value her brand brought to the market. She emphasized that Blissclub aimed to change the narrative around women’s activewear in India, offering high-quality products that were lacking in the market. Despite these challenges, Blissclub attracted investors who recognized the brand’s potential. The startup raised $20.25 million in funding, with the latest Series A round of $18 million led by Eight Roads Ventures, Elevation Capital, and Stride Ventures. Key individual investors, including Swiggy’s CEO Sriharsha Majety and WhatsApp’s ex-CBO Neeraj Arora, also showed their support.

Blissclub has rapidly grown its user base and revenues, with 75 percent of sales coming from its website. The brand’s revenue soared from ₹36 lakh in FY21 to ₹15 crore in FY22 and ₹49 crore in the first nine months of FY23. Investors have shown strong support for Margeret and her brand, recognizing her deep understanding of the market and customer-centric approach. Chirag Chadha, Vice President at Elevation Capital, praises Margeret’s ability to spot pain points in the market and her customer obsession. He highlights her experience in finance and marketing, as well as her exposure to large businesses at PhonePe and AB InBev, which has allowed her to scale Blissclub with strong fundamentals. While Blissclub’s growth is impressive, challenges remain on the path to becoming a household brand. The brand will need a multi-channel approach, combining online and physical stores, to reach a wider audience. Continuous product innovation and expansion will also be key.

Minu Margeret’s entrepreneurial journey serves as an inspiration, demonstrating that with passion, innovation, and unwavering commitment, even the most significant challenges can be overcome. Blissclub is not only changing the active wear game for women but also challenging stereotypes about women in entrepreneurship. Margeret’s journey is a testament to the power of determination and the pursuit of one’s passion.