IndiaRetailing brings you a series of articles in which we highlight brand icons in India’s thriving fashion and lifestyle industry. This week, the focus is on Dipti Tolani
Mumbai: No business can last long without a vision; even if it does, it will be susceptible to any disruptions and fluctuations that would normally occur in its business cycle. It needs a leader who is able to translate, create that vision or make it clearer and make it a reality. The essence of leadership is to have a vision from the start. Moreover, it is not possible to blow the trumpet in an uncertain way, so there should be clear regulations for them to manage and lead everyone. A team led by a visionary leader with a clear direction knows what it can achieve and how far it can go.
In this special feature, IndiaRetailing highlights brand icons in India’s thriving fashion and lifestyle industry. This week, the focus is on…
Dipti Tolani
Founder and CEO, salt costume
Education
- Bachelor of Engineering from the University of Pune
- Master of Operations Research & Financial Engineering from Columbia University, New York
Career history and experience
Before joining Salt Attire, Dipti worked as a financial risk consultant in New York. She has also worked with HSBC as a software developer for their OTC Derivatives Platform.
Roles and Responsibilities
- Establish and execute organizational strategy
- Recruit the right team to execute the strategy
- Capital allocation decision
- Establish vision, values and corporate culture
- Communicate effectively with all stakeholders
Strengths and weaknesses
Strength:
- Able to learn
- Grit and solve
- people skills
Weaknesses:
- Impatience, gradually changing over the years
- Self-criticism, I’m a bit too self-critical, which helps performance but can hinder execution speed
Aspirations you want to fulfill
To create a global brand, built from India.
Retail technology changes the game for you
- Forecasting demand for AI
- Omnichannel technology for operations, supply chains and customers
- Production on demand
Skills that have helped you succeed in this industry
Networking and communication skills – reach out to the right stakeholders for the growth of your business.
Lessons learned over the years
- Getting out of your comfort zone gives you growth.
- Always never stop learning.
- If you fail, learn from it and move forward. Your attitude towards failure should be one of learning, moving forward, and growing.
You take on the future of the industry
- In operations and supply chain:
- a) Reducing carbon emissions and more sustainable methods will be used in operations and supply chains.
- b) Forming/consolidating distribution centers closer to customers.
- The shopping experience is delivered directly to the consumer. In addition, personalization and customizations are offered to customers seamlessly.
- Round retail.
Any role model in the industry
Amancio Ortega, Founder of Inditex Group.
life mantra
It’s important to have a purpose, a goal in life (even if that continues to grow over the years) – it gives life meaning.
This article first appeared in IMAGES Group’s Business of Fashion Magazine March 2023
