Harsh Palrecha, a prolific young entrepreneur, has carved a niche for himself in the fashion industry with Blaxk. At just 17, Harsh was bitten by the entrepreneurial bug. In this exclusive interview, Harsh shares insights into the inception of Blaxk, being the CEO and founder at a young age, the challenges faced along the way, and his vision for the future.
D2C Verse: When did you first decide to become an entrepreneur?
Harsh Palrecha: When I was 13 years old, I had a strong desire to start my own company. I started with a music production company where I released music for other artists and did freelance work by distributing their music through my label. I earned my first $500 to $600 from this venture. However, being young, I didn’t know how to manage the money properly, and I spent it on things that weren’t really important.
Eventually, I realized that people were paying me to distribute their music, so I decided to close down that company and started a gaming company instead. Now, with Blaxk, this is my third stint at entrepreneurship.
D2C Verse: What was the first thought behind Blaxk?
Harsh Palrecha: During the lockdown in 2020, I shut down my first gaming start up. I realized that I couldn’t keep up with the technology advancements with such a small team. That’s when I discovered the significance of fashion in people’s lives and decided to give it a go.
The name “Blaxk” is inspired by the color black and is a clever play on words — a symbol of taking fashion to the extreme level.
D2C Verse: What were the three big challenges you faced in the beginning?
Harsh Palrecha: There were three main challenges we faced. The first one was inventory, which means having enough products to sell. We had a contract with a company in the UK that provided us with a space in their warehouse to store our inventory. We didn’t want to have a lot of inventory because we couldn’t afford it, so we agreed on a small Minimum Order Quantity (MOQ) with them. They now handle shipping for us, even if it’s just a single piece.
You might think it’s difficult to ship from the UK instead of having a place in India, but the designs we have can only be manufactured in the UK warehouse, not in India.
For styling and design, I had two people helping me. One was a designer named Anne, who was my friend from the UK. I asked her to create designs for the Western fashion segment, and we worked on it together. I also hired a fashion executive who helped me choose the best designs.
As for capital, in the beginning, I didn’t have a lot of money. But as I started working on my business, my dad saw my dedication and supported me. He provided me with some capital to start and grow my business.
D2C Verse: Did you plan on finding funding for your company?
Harsh Palrecha: Well, initially, my father provided the investment for the company. Whenever I needed money for things like campaigns or photo shoots, I would ask my dad, and he would give me the capital. We didn’t have a fixed amount of capital like 10 lakh rupees that we had to use. It was more flexible.
I am the sole founder of Blaxk, and I hold the positions of CEO and founder. However, now we are bringing in some other companies and getting investments. The process is still ongoing, and our company’s valuation is now at six crores.
D2C Verse: What are your plans to grow your business?
Harsh Palrecha: We are currently focused on the D2C segment and plan to maximize our online presence and reach as many people as possible through our website and online platforms.
However, we also understand the importance of providing a hands-on experience to our customers. So, in the near future, we plan to open physical stores where people can come and see our products in person. This way, they can get a better understanding of the quality and craftsmanship of our Blaxk products.
D2C Verse: Are you focusing more on marketing efforts, or are you gaining customers organically?
Harsh Palrecha: Currently, we have around 150 to 200 customers. Most of our customers come through word-of-mouth or organic discovery, rather than extensive marketing efforts. We have exclusive collections, and they tend to sell out quickly because we only produce a limited number of outfits. Our approach is to create a sense of exclusivity.
In terms of services, we provide fashion news and have our own magazines where we share exclusive styling tips and combinations. We even offer the option to purchase a PDF version, which costs less. At this stage, we are not making significant profits, but we are also not experiencing any losses. The main focus is on building a strong customer base and establishing Blaxk as a desirable brand.
D2C Verse: What is the biggest source of your motivation?
Harsh Palrecha: I have always faced failures in various aspects of my life, whether it was academics or sports. Those failures didn’t discourage me because I understood that they were part of life’s journey. When I started Blaxk, I started receiving positive feedback. We were getting leads, making sales, and gaining recognition. These positive experiences motivated me and gave me the drive to keep moving forward.
D2C Verse: What would be your advice for fellow entrepreneurs?
Harsh Palrecha: My one piece of advice for young entrepreneurs would be to not let other people influence you too much. Sometimes, the people who claim to know how to make money are actually in debt themselves. Trust your own instincts and listen to the advice of those whom you genuinely trust and believe in. Ultimately, make decisions for yourself and follow your own path.