In 2023, Recode Studios aims to generate Rs 50 cr in revenue: Dheeraj Bansal

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.

Recode Studios is a Ludhiana-based cosmetics brand that offers a wide range of high-quality, affordable makeup products for Indian consumers. With a network of 30 stores across India, the brand has quickly established itself as a leader in the Indian beauty industry. Recode Studios is committed to providing exceptional customer service and innovative product offerings to its customers.

Dheeraj Bansal, Founder of Recode Studios, had a strong passion for entrepreneurship and a desire to create something unique. Despite pursuing studies in commerce, he decided to follow his entrepreneurial aspirations and established Recode in Ludhiana in 2018. His vision was to make Recode Studios a well-known name for various cosmetic and lifestyle brands, and he worked hard towards achieving this goal. Bansal’s motivation came from his belief that success comes from hard work and being true to oneself. Despite the challenges faced due to COVID-19, Recode has grown rapidly, and Bansal’s entrepreneurial journey has been nothing short of inspiring.

In an interaction with Adgully, Dheeraj Bansal, Founder, Recode Studios, speaks about the brand’s journey since its inception in 2018, growth target for 2023, how digital platforms have been a game-changer for Recode Studios, and more.

What was the need for this brand from a consumer’s perspective? What is the core business proposition?

Recode Studios recognised a gap in the market for authentic and affordable beauty products. The brand was established to provide quality cosmetic and lifestyle products to consumers at an affordable price, something that was missing in the market. The core business proposition of Recode Studios is to provide consumers with a diverse range of beauty and personal care products, with a focus on authenticity and affordability. By offering products from renowned brands at a reasonable price, Recode Studios has become a go-to destination for customers looking for high-quality beauty products.

What were your key learnings so far? How do you see the company's ecosystem progressing in 2023?

Recode Studios has learned the importance of being resilient and adaptable to changing market conditions. The brand has faced several challenges, including the COVID-19 pandemic, but it has continued to grow and expand its offerings. One of the key learnings for Recode Studios has been to focus on quality and authenticity. In 2023, the company aims to establish a presence in 20 stores and generate Rs 50 crore in revenue. Recode also plans to strengthen its digital presence and expand its product offerings to meet the evolving needs of its customers.

How is digital helping you further your business?

Digital platforms have been a game-changer for Recode Studios. The brand’s website provides customers with easy access to authentic and affordable beauty products, making it easy for them to shop from the comfort of their homes. Social media platforms have also been essential in creating brand awareness and driving traffic to the website. Digital marketing has been a cost-effective method for Recode to reach out to a broader audience and expand its customer base. The brand has also leveraged digital platforms to offer personalized shopping experiences to its customers, further enhancing their overall shopping experience.

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

Recode Studios identified women aged 18-35 as its target audience. The brand offers affordable beauty products and personal care products that appeal to a wide range of customers. The company’s focus on authenticity and affordability has helped it reach a broader audience, including budget-conscious customers looking for high-quality products. Before starting the business, Recode conducted a feasibility study to assess the market demand for authentic and affordable beauty products. This helped the brand identify the gap in the market and tailor its offerings to meet the needs of its target audience.

What were the challenges that you faced in your startup journey, and how did you overcome them?

Recode Studios faced several challenges in its early days, including the COVID-19 pandemic and difficulty in raising funds. The brand overcame these obstacles by expanding its digital presence and offering affordable products. The COVID-19 pandemic had a significant impact on the business, causing a temporary halt in operations due to the nationwide lockdown. However, Recode Studios quickly pivoted to a digital-first approach, leveraging social media and e-commerce platforms to stay connected with its customers and expand its reach. The brand also introduced new products to cater to the changing needs and preferences of customers during the pandemic.

What would be your message for budding entrepreneurs?

Being a business owner, my message to budding entrepreneurs would be to believe in themselves and their ideas, and to never give up in the face of challenges. Starting a business is a difficult and often unpredictable journey, but with passion, hard work, and persistence, it is possible to turn your vision into a successful reality. It’s also essential to be adaptable and willing to learn from both successes and failures. Continually seek out feedback from customers, employees, and industry experts, and use that feedback to improve your product or service. Surround yourself with talented individuals who share your passion and vision, and empower them to take ownership of their roles. Encourage open communication and collaboration, and create a culture that fosters creativity and innovation.