The Rug Republic-A leading homegrown décor brand starts accepting Cryptocurrencies

 Going Step Forward, The Rug Republic-A Made in India decor brand Starts Accepting Cryptocurrencies

With cryptos being the buzzword, people are scrambling to gather more information about this niche asset class,  But amidst all the uncertainties encircling the cryptos, many corporates and startups have taken a step forward and embraced this new asset class for transactions.

One amongst these is The Rug Republic, an Indias decor brand having presence in over 90 countries and 6 continents has announced that it will accept cryptos from now onwards. The Rug Republic Is the largest collection of Indian handmade rugs and accessories across the world. The Rug Republic is the only Indian floor fashion brand with the global recycled standard certificate. TRR also uses recycled denim, cotton, silk and even plastic bottles to produce its products.

Making the announcement, the company’s director, Raghav Gupta said, “The blockchain is a great piece of technology that will undoubtedly change the face of transactions as we know them. A new age where middlemen can be cut out and benefits can be reaped by all instead of a select few. I believe as entrepreneurs it is not only in our best interest but also our duty to adopt new tech that can solve very key issues in our current ways.”

In the face of innumerable concerns pertaining to the absence of regulatory clarity being raised by the experts, Gupta allaying all these doubts said, “It is a misconception that crypto transactions cannot be tracked in any way. It is easily verifiable on the blockchain, as opposed to the incredibly difficult ways money can be hidden in the real world. As we have seen with so many people - Panama papers . Our invoices clearly mention that money was taken in x currency on this date at this price. Everything is absolutely above board.”

2020 is a year of many changes and is also being dubbed as the breakthrough year for Cryptocurrencies.  Amid many startups and corporates accepting this currency, El- Salvador has become the first country to legalize the acceptance of Cryptocurrencies, this has led to a multipronged debate around the cryptocurrency.

Now with the emergence of more and more crypto exchanges around the world investing in cryptos is just a few clicks away. And now acceptance of cryptos by The Rug Republic is a step forward in the positive direction.

Throwing light on the cryptocurrencies landscape in India in the future, Gupta added that, "like any other revolution, this crypto revolution too will only be successful as and when more and more people adopt it. With that in mind, we at The Rug Republic are proud to take part in this great journey towards a more connected future."

Dubbing this as an entrepreneurial duty, Gupta underlined that cryptocurrencies are a more sustainable and advantageous future than Fiat money can even dream of being.

 https://www.therugrepublic.in/

PROFILE

RAGHAV GUPTA

Director of eCommerce at The Rug Republic | Reinventing home fashion for the world | Orchestrating end-to-end eCommerce lifecycle to catapult business growth| Global Business Expansion | Strategic Leadership

Brimming with energy and enthusiasm, Raghav Gupta, The Rug Republic's (TRR) Director of eCommerce, is here to leave his mark in the world of furniture and home décor manufacturing. The young business leader wants to reinvent home fashion for the world and orchestrate an end-to-end eCommerce lifecycle to catapult business growth.

Man on a mission    

The graduate in Mathematics and Economics from the prestigious University of California, Los Angeles, showed a glimpse of his talent and ability by spearheading the company's expansion in Europe via revamping payment and delivery systems. He also impressed everyone by accelerating sales by two times within a month via deploying an upgraded customer service and social media strategy. It was his new-age ideas that allowed a well-established business to venture the uncharted courses and then conquer them all. To begin with, he coordinated the business onboarding and expansion on domestic and international levels via deploying a new shipping model. He then supervised the end-to-end establishment of business properties in the Netherlands. 

It would be surprising for most to know that his journey at TRR began not as the Director of E-Commerce, but as a marketing intern in 2017. Soon, he began to prove his mettle. Using his core expertise in marketing and business expansion, he envisioned and implemented an ambassadorship program to boost social media followers of the company. He deployed SEO techniques to bolster the website's session-duration and conserve bounce-rate. He took to Team Leadership and Client Relationship Management like a duck takes to water and began chairing cross-functional teams and managing business operations in various departments like a pro. He started collecting customer feedback by personally communicating with at least three clients daily and using the response to improve the services. He developed comprehensive systems for backend operations to achieve advanced reporting systems and performance metrics. He enforced daily audits of pending orders by implementing an automated system and consolidated the average delivery time by 10%. The list of his stellar achievements goes on! 

Like father, like son

They say that the fruit doesn’t fall far from the tree. Just like Aditya Gupta- a name to reckon with in the world of furniture and home décor manufacturing, converted his father’s small business set-up in Meerut into a multi-crore brand name, his son Raghav is now taking the brand of TRR to newer heights. Even amid the pandemic when the challenges have been unprecedented, there was no stopping this dynamic youngster who is on the mission to transform the outlook towards recycled products across the world.  

Planning ahead amid a pandemic 

Managing in the COVID-19 times wasn’t easy for Raghav. He had to relearn management and coordination as managing a team remotely is a different ball game. He says, “The lockdown was surely a setback in terms of production, sourcing, etc. but it was the need of the hour. We are now progressing as planned, taking all the necessary precautions. People are also slowly adapting to the idea of the home-office and perhaps in a few years that might just be the norm. It took a massive amount of conviction and hard work to get back on track but honestly, having dealt with a problem of such magnitude, our confidence is at an all-time high. The lockdown is not without a silver lining.”  

The coronavirus outbreak had a significant impact on the economy, but Raghav’s pragmatic approach and meticulous planning didn’t let the business suffer. Talking about his e-commerce strategy during the pandemic, the Young Turk says, “The way people buy things has changed forever and businesses must change with it. I have believed for a long time that gradually people will get less comfortable going to stores and spending hours selecting rugs and furniture, let alone touch a rug touched by many people before them. Obviously, gloves don't solve that problem as you cannot really feel the rug under the rubber. People want to know the touch and feel of a rug. To provide them with that, we are coming up with a very detailed look and feel videos for all our products to help the customers understand the rugs and accessories beyond just photographs. If we can help the client understand our product without having to leave their homes, then we are heading towards innovation and growth.”

Fortune favours the brave and Raghav could see a window of opportunity. With most people working remotely and spending more than time inspecting their homes, the need to embellish their homes with new rugs, poufs, accessories, etc, began growing. This meant good news for a brand like TRR. “We might very well be on the cusp of what is India's home decor revolution and that is very exciting to me, even on a personal level,” Raghav adds.

A wearer of many hats 

Like a true go-getter, he keeps pushing the envelope. Despite his busy schedules, he finds time for his other pursuits. He has an in-depth knowledge of the stock market and used to trade in cryptocurrencies. Interestingly, he even started the UCLA Bruin Crypto Club. In his leisure time, he loves to play chess and poker. Going on adventurous trips is one of the many things he is passionate about. A Sunday well-spent for him could mean honing his mixology skills or cooking a sumptuous meal for family and friends or simply reading some poetry. 

He feels a deep sense of responsibility towards society and actively participates in fundraising initiatives as well as cleanliness and plantation drives. He regularly visits slums to help the needy. 

Raghav is someone who aims to leave the world place than he found it, taking one step at a time.

About The Rug Republic:

The Rug Republic's origin can be traced to the year 1983 when entrepreneurs J.K. Gupta and Meenakshi Gupta started a small carpet making operation in Meerut, a small town 60 km north of Delhi. Little did they know that the unit which they had set up in their garage with six weavers, will one day turn into an industry leader, directly or indirectly supporting around 5,000 families, and supplying rugs to more than 90 countries.

TRR has been created by Studio Sharda, a leading Indian manufacturer and one of the most creative Floor Fashion studios in the world with over 3 decades of manufacturing and International experience. A sister company of Sharda Exports, The Rug Republic (TRR) is the only global brand of handmade Indian rugs, poufs and accessories sold in over 90 countries across six continents. TRR has a global reach and often exhibits its products at Heimtextil Trade Fair in Frankfurt, Domotex in Hannover, IMM fair in Cologne, CIFF fair in Shanghai, and other fairs in different cities. TRR is a curated collection of over 600 trend-sellers always in-stock with an ex-factory delivery time of 3 weeks Worldwide, a pioneering achievement in the Floor Fashion Business. 

The TRR collection is a comprehensive catalog of choicest products ranging from hand-tufted & handwoven rugs, recycled items, bath rugs & Chenilles, and home décor accessories like poufs & cushions. These products are manufactured from the best quality materials in socially responsible and eco-friendly Sharda factories. Having decorated over 3 million homes across the globe, TRR continues to impress with its innovation, creativity, aesthetics, and sense of responsibility. It has been fighting environmental degradation, by recycling plastics into carpets. It has taken giant strides by converting plastic pollution into a profitable business proposition and is setting a great example of sustainable development. The creative artisans at TRR use discarded water bottles and give them a new life as a rug that can beautify the buyer’s home. 

The Delhi-based business house with an international presence is known for its robust manufacturing and eco-friendly products. Making outdoor and indoor art pieces while using minimum natural resources is the forte of this company, which is now driving innovation by recycling bicycle tubes, PET yarns extracted from recycled water bottles, recycled silk yarns, and other multi-fibre textiles, to create unique and vibrant rugs and carpets.

The company, owned by noted entrepreneur Aditya Gupta, functions on the philosophy of "Rethink, Rediscover, Renew". Its Director of eCommerce is Raghav Gupta.