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ACKNOWLEDGEMENT

We take this opportunity to express our profound gratitude and

deep regards to our guide, Ms. VISHAKHA SHARMA, ESBP
Department, National Institute of Fashion Technology for her
exemplary guidance, monitoring and constant encouragement
throughout the course of this research.
We also take this opportunity to express a deep sense of
gratitude to National Institute of Fashion Technology for
providing us with this opportunity.
We are obliged to other faculty member for their cooperation
during the period of our research.

Lastly, we thank the almighty, our parents and friends for their
constant encouragement without which this assignment would
not be possible.

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 ABSTRACT

The study aims to obtain an integrated view of the business,

products, success factors, and sustainable business practices
including the entrepreneurial qualities perceived by Mira Kulkarni,
the founder of Forest Essential.
It not only captures products or factors but carries on some
initiatives that have played a significant role in making the project a
success. The study includes the growth of forest essential as a
sustainable luxury brand which includes sustainable business
practices followed by the company.
Through this research, we hope to understand and learn strategic
planning, environment, product innovation, organizational
management, and sustainability as a reason towards the success of
the venture.

ABOUT THE BRAND

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Forest Essentials is an authentic, traditional skincare brand with its foundations in the ancient science
of Ayurveda. A pioneer of Luxurious Ayurveda, today it has become the quintessential Indian beauty
brand that combines the ancient beauty rituals of Ayurveda with a stylish, modern aesthetic for a
more relevant emphasis on efficacy, sensorial experience, and pleasure of usage.

STATE OF THE ART MANUFACTURING

Their factory has world-class manufacturing facilities, with pharmaceutical grade production
standards. It includes one-of-a-kind R&D
departments and is a green factory by design, which
ensures that they deliver a sophisticated product
that is conscientious about the environment.
Products are made using traditional and artisanal
expertise, infusing Ayurvedic herbs, aromatic
flowers, and pure essential oils grown naturally &
organically in our own farms and sourced from
regions across India, where they are known to be of
the most superior quality.

About the Products: Forest Essentials deals in various kinds of products listed below:

Forest essentials Natural Makeup products are infused with Precious Skincare Botanicals. Earlier in
ancient times, women used soot from earthen Diyas to enhance their eyes and fresh extracts from
natural, freshly cut Beetroot, to tint their lips and cheeks. Their new Natural Makeup Collection is
inspired by re-introducing these age-old rituals to their discerning customers with diverse
complexions, features, and skin types. It is deeply enriched with natural ingredients and a
miraculous serum formula that enhances the lips and eyes, whilst restoring their natural beauty.

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In line with Ayurvedic principles, the facial care products are made by using traditional expertise
with herbs that are handpicked only at a certain time of the day, when they are in their most potent
state. Infused with flower oils, herb-infused waters, and organically grown fruits and vegetables,
their natural skincare products for glowing skin that feels nourished and hydrated.
In ancient India, special Ayurvedic Tailams and Ghritas were used for facial beautification. Inspired
by these luxurious rituals, their collection of authentic ayurvedic skincare products seeks to promote
healthy skin, by reviving Ayurvedic recipes and methodologies to create products that keep their
traditional benefits intact. The line of natural skincare products includes Ayurvedic face creams, face
cleansers, revitalizing face masks, teenage facial creams, and mild exfoliators.

At Forest Essentials, they believe in adapting traditional formulations and methods of manufacturing
with the purest, seasonal, and natural ingredients to create their quintessential bath and body care
products to help restore the consumers Vata. This is because nature’s creations, unlike chemicals,
are full of living, vibratory energy that constitutes life. Bath and body care were extravagant rituals
in ancient India that they aspire to revisit with their line of Ayurvedic body care products. This
includes deeply hydrating body lotions and body wash, handmade silk soaps, exfoliating body
polishers for soft skin, and cold-pressed, Ayurvedic body massage oils.

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Tapping into ancient remedies and beauty secrets of Ayurveda, Forest Essentials restores these early
traditions with its herb-infused Ayurvedic hair care products, including replenishing hair cleansers,
enriching hair shampoos, hair conditioners, nourishing head massage oils, strengthening hair masks
and a shine-enhancing hair vitalizer.

Their range of Ayurvedic natural wellness products includes wax tablets, incense sticks, de-stress
therapies, room fresheners, essential oils, and a puja oil. Selecting the scents can be a process of
inner growth and awareness. The timeless Rose uplifts the heart and the spirit by bringing you joy.

JOURNEY
Journey of Mira Kulkarni A graduate in Fine Arts from Stella Maris College, Chennai, Kulkarni was
introduced to Ayurveda early in life. She realized there was a glaring gap in the market for user-
friendly Ayurveda products. Oils from factory waste, synthetic scents, and adulterated herbal
extracts were used to make Ayurveda beauty products. Using her knowledge, Kulkarni started
making handmade soaps and scented candles as a hobby, but the sad situation deeply affected her.
She also understood that several companies, in their bid to save expenses, were resorting to cheap
and incorrect methods. Kulkarni insisted on organically grown unprocessed oils cold-pressed by
hand, commissioning only pure plant, herb, and flower infusions, and sourcing the purest steam-
distilled essential oils. She waited struggled for so much time that it took her over two years to come
up with her first product. With an investment of Rs2 lakhs, Kulkarni started with a limited range of
soaps and oils in the year 2000. But the market for Ayurvedic products was niche and had some
powerful contenders. She faced many problems related their product to stand out in the market like
their price was a bit higher than other products in the market and they were having less traditional
media coverage. But Kulkarni remained unaffected. Her idea was to introduce a traditional version of
cosmetics made according to Ayurveda but with a modern twist. At that time, there was a need for
high quality Indian skincare products. It was just the right idea at the right time. Kulkarni used lighter
textures and pure essential oils as opposed to regular Ayurveda products that were messy and
uncomfortable. Her products did exceedingly well, and her soaps and candles had several takers. It

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was then that Kulkarni decided to expand her product range and include skincare and haircare
products. Forest Essentials has grown exponentially and has stores in metropolitan cities. The icing
on the cake was its association with Estée Lauder in 2008. Leonard Lauder, chairman emeritus of
Estée Lauder Companies, met Kulkarni in 2007 in India, and was immensely impressed with her, and
her beauty products. In 2008, Forest Essentials formed a strategic alliance with Estee Lauder
Companies where the latter acquired a minority stake in the brand Forest Essentials. This formed a
relationship of great significance in the India beauty market, being the first Indian company to have
interest from a global beauty conglomerate of that size and pedigree. In 2014, it decided to increase
its stake in Forest Essentials. Till the year 2010, Forest Essentials had 16 stores across seven cities in
India. At present, it has more than 40 stores across the country. And yet, Kulkarni relentlessly strives
for excellence. As a successful entrepreneur and leader, Mrs. Kulkarni has been repeatedly honored
with prestigious awards and commendations including, Fortune India’s ‘Most powerful women in
business’ for consecutive years since 2011 – 2016. Forest Essentials ventured into the overseas
market one- and-a-half years ago for retail supply to hotels and spas and is also seen in up-market
hotels and spas in the country. In her journey, she has been ably supported by her children, Samrath
and Divya. Her philosophy in life is simple. “Many people tend to be what other people want them to
be. The most difficult thing is to be yourself, with all your quirks intact! That is the biggest
achievement,”

ENTREPRENEURIAL QUALITIES OBSERVED IN MIRA KULKARNI:

Risk bearer -
A successful entrepreneur knows that sometimes it is necessary to take the risk. It is important to
understand the calculated risks that are more likely to pay off than to take some to become an
entrepreneur. Mira Kulkarni was always observed as a risk-bearing personality as Ayurveda is the
most ancient and ignorant sector at that time she initiated and took Ayurveda as a major ingredient
for the brand's luxurious products. She took a risk and started her venture with a capital of 2 lacks
which shows her risk-bearing quality.

Planner -
Planning is deciding in advance what actions we are taking in the future. To become a successful
entrepreneur, one needs to be a good planner and an excellent follower of that plan. Mira Kulkarni
always came as a great planner as she took around 2 years to come up with her first product. Her
planning was so effective and futuristic which turned out as a great venture.

Stress taker -
One should accept and be passionate about their business to accompany any amount of stress that
may advance with time. Surviving in a competitive environment is highly stress taking and coming
up, building a brand in a different category, making it a luxurious brand and carrying for its legacy
was always a daunting task for Mira Kulkarni, but she managed it so well and got it on another level

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with 100% growth rate every year.

Independent -
One of the advantages of being an entrepreneur is that they are the master of their own and are
individually responsible for everything they do.
Mira Kulkarni single-handedly managed her work in the initial stage of her business. In an interview,
she was asked that what she likes to do in her free leisure time to which she answered that she likes
to manage her business, this shows being independent is Mira Kulkarni’s hobby.

Self-confident –
A successful entrepreneur believes in his/her abilities and is not scared to explore unexplored
territories, take a risk, or difficult decisions. Self-confidence is the key entrepreneurial skill for
success. It is easy to become discouraged, frustrated, and resentful if anyone lacks self-confidence.
Mira Kulkarni never worried about the competition she was confident about her product and her
abilities. She knew her products contain the potency of the oils as well as their nutritional value that
is why the soaps came out to be purely natural and have impressive results.

Motivator -
Motivation is the process that initiates, leads, and supports goal-oriented behaviors. To become a
successful entrepreneur, one needs to be a good motivator who influences people, motivates them
to accomplish their goals, and has all the qualities to move the business forward with great
enthusiasm and synergy. Mira Kulkarni turns out a great motivator and influencer in the market and
for her employees and investor. The chairman emeritus of Estée Lauder Company was immensely
impressed with her, and her beauty products which resulted in purchasing its 20% stake which was
further increased in 2014.

Success and achievement –

An Entrepreneur should have a clear vision about what their business is going to be and should be
able to concisely articulate its purpose, goals, and market position in the business environment. Mira
Kulkarni was always clear about her vision before starting her venture as she analyzed the gap and
need to discover the demand for luxurious ayurvedic products over traditional and uncomfortable
ones and with this she was self-directed towards her goals.

Flexible –
Sometimes things do not work the way we expect them to. An entrepreneur should be flexible and
adaptable according to the situation. One should learn from the mistakes and have a willingness to
adapt and change as they go along. They should never hesitate to take advice from others and try to
seek opportunities. In this always changing environment, there is a need to change according to the
market scenario, similarly, Mira Kulkarni managed it so well and adapted every change persisting in
the market with the developing techno-savvy market she managed to develop her website to go
digitally.

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 SUCCESS FACTORS
-Effective Planning:

Planning is the process of thinking about the activities required to achieve the desired goal. Planning
is the first and for most activity before starting a business. Mira Kulkarni always focused on the
strategic planning of the company; she took proper time before establishing the venture as it took
around two years to come up with their first product. She opened her first store in khan market it
was one of the most expensive rented stores in Delhi as she analyzed the potential of the locality, as
a result, she faces a Stockout, that resulted in the store remains closed for two days to replenish the
store. Her planning was so effective that made her flourish in the market and turned out to be a
successful venture.

-Adapting the market change:

As the market scenario is always changing, there is a continuous need for the evaluation of market
need and potentials and Mira Kulkarni aced in that she focused on analyzing the demand of the
market and tried to meet the growing demand and she observed the need for high-quality premium
cosmetic in the market. Like, the advent of the company coincided with massive changes in the
Indian market. In the first decade post-liberalization, the purchasing power of Indians started
increasing. As disposable incomes increased, people could splurge on small luxuries such as premium
cosmetics. It is not to say Indians do not have money to spend on luxury before that. There were
always rich businessmen, maharajas, and wealthy landowners, but there was a new consumer in the
market. When Kulkarni decided to sell her handmade soaps for `100, which was a huge amount for
soap at the time, there was no shortage of takers. she said, "Indian women who would go abroad
and spend a hefty `25,000 on a cream". “You still have those women and will always have those
women, but the interesting thing is that a lot of the people who are buying our creams are people
who were buying La Mer,” she says.

-Natural and Sustainable product:

Forest Essentials focused on natural ayurvedic products as Ayurveda is the core of Indian medical
science, people have been obsessed with the quest for beauty and eternal youth. All the processes
were driven by hand, including traditional pounding of herbs, pressing of oils, and rolling of incense
sticks. It is said Cleopatra bathed in the milk of asses. And Mary Queen of Scots washed her face with
white wine. And in India, Ayurvedic beauty company Forest Essentials buries dates and litchis under
a banyan tree to ferment to make its Eternal Youth anti-aging cream. Ancient Ayurvedic wisdom says
that under the shade of the banyan tree, the fruit ferments at a certain pace. If there is too much
sun, it will ferment too quickly; if it does not have enough, it ferments slowly. And while workers at
the Forest Essentials factory are mixing the ingredients for the cream—described as an ancient

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formulation from the early 17th century—they chant special mantras. Forest Essentials focused on
bringing sustainability to the market through its products, which indicated the reason for being the
premium luxury brand in the market.

SUSTAINABLE PRACTICES BY FOREST ESSENTIALS

Over the years the brand has taken small steps in fortifying ethical, eco-friendly, and sustainable
practices across all aspects of their supply chain – right from their suppliers, to their manufacturing,
to packaging, and finally to distribution. And from empowering local women through employment,
to sourcing clean drinking water for nearby villages, to manufacturing that ensures delivery of a
sophisticated product that is conscientious about the environment, for striving to give back to
society in every way possible.

SOCIAL CONTRIBUTION

The brand is fulfilling its social responsibility towards the society. As, is said “health is wealth”.
Therefore, they strongly encourage health and hygiene not only within the factory and work
premises among its staff, and as a part of the lifestyles of their employees too. Hence, they provide
supplies of products to their factory workers, such that hygiene practices may be inculcated within
the daily regime of their families, which in the long term improve the quality and standards of
hygiene in their homes and a large the area in which they live in. They are contributing to the
development of the artisans who with their delicate hands of skilled craftsmanship makes Ayurveda
a true luxury. They have contributed to create employment opportunities and giving them the means
to sustain their families and live with dignity and respect in society. They are working hard to provide
them the status and recognition which they deserve. Their products made by them come from a
place of love, artisanal skill, and endearing passion, each made by hand wherever possible, blended
in specific proportions prescribed by the Vedas, and with the most intricate attention to detail.

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CREATING AN ETHICAL and ECOLOGICALLY CONSCIOUS ENVIRONMENT

They are constantly looking at ways to reduce the earth’s carbon footprint by focusing on using
renewable plant sources in their products. Their manufacturing facilities are world-class with
pharmaceutical grade production standards and green factories by design. resulting in a free-running
and off grid facility ensuring ‘Zero Carbon Footprint’. Inspired by the local materials and indigenous
techniques of the region, their workshop echoes the design strategies that create a conducive
microclimate within the building, with naturally day-lit open-plan spaces that allow flexibility in space
function. Electricity is generated through solar panels mounted on the roofs in a flight format which
also enables collection of rainwater. This has been enabled them to reduce transport costs, generate
less waste, and increase efficiency. In exchange, of good trading practices and independence-
building prices. Their Each ingredient in the products comes from a responsible sourcing program
which ensures that these ingredients meet high standards in health and safety, social,
environmental, and business integrity. Basically, their approach aims to secure precious natural
ingredients without contributing to the loss of biodiversity and while bolstering the livelihoods of the
local partners who produce them.

WOMEN'S ECONOMIC EMPOWERMENT THROUGH EMPLOYEMENT OPPORTUNITIES

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 As an Indian company, they
believe in the
empowerment of a large
youth and rural population.
Keeping this in mind, the
education of a child is of
utmost importance and
what they seek to achieve through the support of the Paathshala initiative, which is a partnership
with Simple Education Foundation (SEF), a non-governmental organization in New Delhi in July 2016,
where they started Paathshala, their ‘One School-One Village’ project in rural Uttarakhand. Located
in the hills of Tehri Garhwal, which is currently working in a Hindi medium government high school in
the tiny hamlet of Gular. Next The brand focuses on women welfare through its first factory, which is
situated in the remote village of Lodsi, Uttarakhand, and manufactures soaps, Ubtans, and cold-
pressed oils, all processes that are labour intensive. Being the only factory at the locale, it has
provided employment opportunities to the local population and long-term self-sustenance. Women
were traditionally not been allowed to work in these circumstances, by providing jobs to the local
women, they proudly have contributed to their economic and social empowerment.

REPRESENTATIVE OF 100%AYURVEDIC, CRUELTY FREE AND MAKE IN INDIA

INITIATIVE

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 The products of the brand are certified
100% natural and inspired by Ayurveda
recipes by the ministry of AYUSH. They are
organic and ecofriendly. They confirm to
the highest quality control standards in
their process. The products are non-toxic,
not tested on animals, and unadulterated
without the use of parabens, sulphates,
chemical sunscreens, and synthetic
fragrances as well. Also, they celebrate the
rich knowledge and heritage of India through their products, sourcing rare ingredients from different
parts of the country. Adding a value to Indian heritage, culture, and tradition art of medicine they are
creating products which are originated from nature. The products created indulge their consumers a
feel of nature and purity as nothing can be beautiful than nature. From, which they use seasonal
ingredients while maintaining utmost purity and high quality in the blend of organic oils, Indian
herbs, and their pure extracts and are filled with nothing
but goodness. Despite being slightly expensive,
these Forest Essentials products are worth every penny.

ENCOURAGING SUSTAINABLE CHOICES THROUGH

THEIR PACKAGING, LABELLING AND GOGREEN
INITIATIVE
Forest Essentials has reduced the use of plastic with a significant percentage. They use recyclable PET
and Glass in their new packaging. In which their outer packaging has always been in biodegradable
cartons made of FSC certified paper. They are using recyclable air-filled paper pouches or paper
cushions for the products inside the cartons, for orders placed online via their website, instead of
plastic bubble wrap. As their stock deliveries across various stores in India, they have eliminated the
use of shrink-wrapping film. At the store level, they are moving towards providing more sustainable
choices for their customers by introducing canvas cloth carry bags, which are recyclable and
reusable. The brand also indulges in which the recyclable PET will then be effectively re-purposed
and processed into many secondary applications such as new fibres, bottles and containers, carpet
and clothing, industrial strapping, rope, upholstery fabrics, boat sails, automotive parts, fibrefill for
winter jackets and sleeping bags, construction materials, and many other items. The idea of this

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robust initiative is to reduce single-use plastic in circulation and ultimately do their bit to make the
world greener, and more sustainable.

The suggestions for improvement in the market of forest essentials with

Sustainability:
1. The brand can extend its business operations and diversify into organic home decor essentials that
provide appealing home aesthetics. It will also follow the same philosophy of 100% organic and
cruel- free products to cater to the need of the consumers who are willing to buy organic home
furnishings derived from natural products like its parent company. The product range will include
cushions, bed linen, bath linens, etc. This venture can be in niche markets of New Delhi and Mumbai.
Thus, proving it to be a successful and profitable business idea for the brand to reach a large target
audience.

2. The SWOT analysis revealed that forest essentials do not have a large international presence and
provide a premium range of products only.

So, Forest essentials can collaborate with international beauty players like Mac, NARS, Benefit and
endorse their product line through a global Indian celebrity, which can create good traffic for the
brand in the international and national markets through their retail stores. It will not only be easily
accessible but affordable as well.

3. Keeping the retail presence of the forest essentials in mind, the sustainable practice of using long-
lasting, energy-efficient light sources need to work out to reduce the amount of waste going into
landfills. which can be by changing the lighting in their retail stores from traditional light bulbs to CFL,
Skylight, and more natural light.

4. Forest essential can come up with a Mobile Application integrated with AR and VR consisting of a
questionnaire and photograph feature by which they can suggest a great and suitable product for
the consumer's skin as everyone has different skin types. Through this, the company can have a
better connection with its users resulting in better brand loyalty.

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 CONCLUSION

Mira Kulkarni turned out to be an inspiring identity. She is

continuously making a tremendous impact on the market. She
has worked with biochemists for many years to develop a range
of Ayurveda product's purity and nature.
Through the success factors and entrepreneurial journey, we
observed some qualities perceived by Mira Kulkarni to be a
successful entrepreneur and an impactful influencer.
All the practices performed by Forest essentials is truly
sustainable brand right from obtaining raw material to get it
manufactured by the locals near the manufacturing unit.

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In India, Forest essential is a huge influence but, with
improvement in its operation, it can grow further by using
energy-efficient lights in stores, developing its mobile app to
capture the bigger market, and also by expanding its premium
range intentionally,
The finding of the study states that although forest essential is
doing appreciable in its market share. It can be improved by
some initiatives if associated with more market initiatives.

REFERENCES

 https://www.forestessentialsindia.com
 https://www.forestessentialsindia.com/social-responsibility
 https://www.facebook.com/forestessentials/?
hc_ref=ARSjY6YwfSNXycLiXi7OY5tgiui9UzExI2vdP5mxrICkueLhDk-
5Dob5uLYkEFz8WXQ&fref=nf&__tn__=kC-R
 https://www.prnewswire.com/in/news-releases/forest-essentials-partners-
with-reliance-industries-limited-to-recycle-plastic-waste-packaging-
855939908.html
 https://www.financialexpress.com/brandwagon/how-brands-are-playing-the-
sustainability-game/1912498/
 https://www.vagabomb.com/Meet-the-Founder-of-the-Forest-Essentials-and-
the-Woman-Who-Made-Ayurvedic-Products-Accessible/
 https://thevoiceoffashion.com/intersections/famous-wardrobes-then-and-
now/mira-kulkarni-on-elegance-and-understatement--3366

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 https://www.fortuneindia.com/people/este-lauders-dream-girl/100473
 https://www.inventiva.co.in/stories/mira-kulkarni-the-deep-rooted-beauty-
and-the-md-of-forest-essentials/

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