Shubham Khare: A First-Generation Entrepreneur and Visionary

In an exclusive Interview with Insights Success, Shubham Khare, CEO – Crossloop, talks about his professional journey and explains his take on the current industry scenario.

Shubham is the first-generation entrepreneur and also the visionary in the true sense. He holds a strong lineage of the Industry and has worked with several popular brands before creating and building his own— Crossloop

Under his leadership, Crossloop’s innovative product and marketing strategy has bridged Consumer Tech and Fashion. Upholding the philosophy of creating one’s own roadmaps, he is credited as one of the Industry Leaders who pioneered design led tech brand in India.

For all the accomplishments that he knitted, Shubham upholds the Success Mantra: “Team work divides responsibilities and multiplies growth.” Shubham shows keen interest in Reading, learning new technologies cooking and is a driving enthusiast.

IS: Kindly brief us about yourself, your initial journey since the beginning of your career?

Shubham: My career started with handling ERP integrations. But I wanted something more tangible so switched jobs pretty early and tried some other sectors when I got an opportunity with Fab.com

The company had just started with ecommerce and I knew this is something which excites me. So I jumped on the train and it was an awesome ride. I gained first-hand knowledge and an understanding of the ecommerce industry across multiple western markets.

Post Fab.com, I dabbled with a couple of ideas for my own venture, even tried to crowdsource a product in the US. I started Crossloop with the vision of marrying design with technology and making everyday products and extension of the user’s personality.

IS: What drives you every day to work? Or what is your motivation which pushes you to enhance your performance?

Shubham: It’s a dream which I have been working on since years, it’s the opportunity which I had been waiting for, to bring innovation and design to the consumers. It is definitely the most fulfilling emotion when people accept your efforts with open arms.

IS: Kindly talk about the most memorable moments along with the challenges you have been through?

Shubham: One of the most memorable moments was when due to some system glitch, we oversold a product and a customer really fought hard on why were we refunding the money, as he wanted the product.

Challenges lie with the commoditised nature of the market, consumers tend to compare on pricing and discount the design aspect which defeats the purpose of the product in the first place. We do try to help consumers understand the nuances, to the best of our ability.

IS: How does your family contribute to your success? Talk about your family values, the culture which has strongly impacted your professional journey?

Shubham: My father is a doctor and my mother is a homemaker. I have always found them very hard working and sincere towards their duties towards society and our then joint family. Even after ageing they both wake up at five in the morning and always look forward to a long list of tasks to do. I even think they might get crazy if they are asked not to do anything for a day or two. I too am always on my toes, looking for new ideas, planning for the future endeavours. Apart from work, the time I spend at home with my lovely wife and kid gives me the most gratifying feeling. Today’s kids I tell you, are way smarter than us and we only have to take care not to hamper what comes naturally to them.

IS: How has business domain transformed over the years?

Shubham: Business transformation is a pretty wide subject matter but I would stick to the sector Im currently playing in. The business models are changing drastically, point of sale is moving towards online and the offline is becoming more of experience provider which is completely opposite to what it was even 5 years ago. We have to act swiftly and align with the trends while also enjoying the opportunities which are driven from this revolution.

IS: How are you foreseeing the future in terms of expansion of your business, the advent of new technologies and increasing players in the market?

Shubham: We want to have an omnichannel presence which is undoubtedly important. The expansion will be multifaceted and we want to be at the forefront of the technology revolution. There are a lot of exciting products in the pipeline which would definitely give us the right edge.

New players are always welcome in the market, it’s a learning process for everyone. Talking about the Indian market, hardly 3-4 % of the market is online right now, there is enough room for everybody in here.

IS: Where do you see yourself in future? Or, what is your ultimate professional objective of your life?

Shubham: I would like my brands to expand globally and would be known as the brands which originated from India with respect. There are very few global consumer brands from our country and I would be very satisfied if I can add even one name to the list.

IS: Share your views on the current business scenario in India.

Shubham: Current business scenario is unique to India I would say. In the west the malls are growing bankrupt whereas in India we see new ones opening everyday. Ecommerce is showing record growth and the broader economy figures are showing downward growth trend. I would say the market is reinventing and a lot of new business models will be created which are unique to India.