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The - Verdant - Challenge

The Verdant Challenge, organized by Kakul Eco, aims to enhance the marketplace for eco-friendly products by developing a new business model that balances environmental responsibility and economic viability. Founded by Kakul Rizvi, the initiative seeks to address the growing demand for sustainable goods in India while ensuring fair labor practices and minimizing the carbon footprint. The objectives include sourcing sustainable materials, innovating packaging solutions, and creating a resilient business model centered on sustainability.

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31 views3 pages

The - Verdant - Challenge

The Verdant Challenge, organized by Kakul Eco, aims to enhance the marketplace for eco-friendly products by developing a new business model that balances environmental responsibility and economic viability. Founded by Kakul Rizvi, the initiative seeks to address the growing demand for sustainable goods in India while ensuring fair labor practices and minimizing the carbon footprint. The objectives include sourcing sustainable materials, innovating packaging solutions, and creating a resilient business model centered on sustainability.

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tiwarisatyapr
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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THE VERDANT

CHALLENGE
In Partnership with

ORGANISED BY
The Verdant Challenge

Overview of Kakul Eco:


[Link] is a multi-vendor eco-friendly products marketplace for
organic farmers, artisans and lifestyle entrepreneurs to sell authentic
products to environment conscious consumers; thus contributing to build a
sustainable circular economy.

Envisioned by Kakul Rizvi, a communications expert in 2018, who


succumbed to Blood Cancer in 2019. Supported by the Association of
Women in Business, registered as a section 8 company in India.
Kakul Eco has established a ethical supply chain of eco-friendly and organic
products which are sourced from farmers, artisans and entrepreneurs from
various parts of India.

Outlook on the Industry:


The demand for eco-friendly products in India has increased in recent
years, owing to the country's large population, and growing environmental
awareness. Even though Indian consumers are more concerned about
sustainability than the global average, there is a significant gap between
concern and action, with just a small percentage ready to pay a premium for
sustainable solutions. While 40- 50% regard sustainability as one of their
top five purchase criteria, sustainable products account for only 5-6% of
the consumer goods sector in terms of value.

However, there is a desire in the market with 52% of urban Indian


consumers expecting to spend more on sustainable goods in the next 3
years, according to a recent survey by Bain and Company. Surprisingly, the
desire for environmentally friendly solutions crosses demographics, with
similar prevalence across income, age, and gender categories. This presents
a significant opportunity for businesses to capitalize on the growing
demand for sustainable products in India, albeit with a need for strategies
to address price sensitivity and bridge the gap between consumer concern
and action.
Problem Statement:

Astha Manroa, the founder of Kakul, wants to increase its product line and
the level of operations; the firm is looking to develop a new business model
from production, distribution, and sales while striking a balance between
environmental responsibility and economic viability to meet the growing
demand for eco-friendly products.

Objectives:

Develop strategies to source sustainable materials/products


Identify measures to minimize carbon footprint in manufacturing and
transportation processes
Innovate packaging solutions to reduce waste and environmental impact
Establish systems for product disposal or recycling based on circular
economy principles
Create a profitable and resilient business model prioritizing sustainability
as a core value

Scope:

The model should be developed with the current operations of Kakul Eco in
mind
The product line extension can be from any eco-friendly product that can
be scaled in the retail market
Ensure fair labour practices throughout the supply chain

Deliverables:

The model should be developed with the current operations of Kakul Eco in
mind
The product line extension can be from any eco-friendly product that can
be scaled in the retail market
Ensure fair labour practices throughout the supply chain

Note: For further details about the firm, refer to this PowerPoint.

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