E-Commerce inspired me to get into business: Mony

Prudent Bay is an e-commerce company based in Goa which was established by 27-year-old founder and CEO Gladson Mony in August 2013. Mony reveals his business plan to VIKANT SAHAY.

HERALD: Your father is a senior scientist and your mother is an educationist. What inspired you be a first generation entrepreneur in Goa?

GLADSON MONY: I dropped out of my engineering and then I did my bachelors in business administration through correspondence. Then I was incubated at the Goa Chambers of Commerce and Industry (GCCI). Following this, I decided to launch Prudent Bay as I am technically very sound and I wanted to use my expertise in the e-commerce space. I have a team of five and as of now our turnover is not too large but we will make it big soon. Prudent Bay is an e-commerce company based in Goa and I established it in August 2013 and we now have plans to have at least four different platforms of which, one is fully functional and successful.

HERALD: Please explain in detail about your business.

GM: We launched our first portal nutritiousnuts.com in September 2013 which is into selling authentic Goan cashew nuts, Goan sweets, dry fruits, nuts and spices across the country. The idea was to offer Goan cashew nuts and Goan sweets to customers across India. We will very shortly be launching an online supermarket called ourdailyneeds.com. This will be hyperlocal which means that it will cater only to certain pockets of Goa. The portal will have products across different brands and various categories such as packed foods, fish, meat, fruits, vegetables, groceries, staples, etc. The reason to launch ourdailyneeds.com is to offer convenience and quality products to people’s doorstep, so that they can avoid long queues, traffic and save on quality time for their family and friends.

HERALD: Can you elaborate on the profile of your customers who are interested in Goan cashew nuts?

GM: Majority of our customers are from Mumbai, Pune and Bangaluru. We also have demands from Gujarat, Delhi and Kolkata too. Most of our customers have travelled to Goa in the past and they want to buy their favourite Goan cashew nuts at their home door steps. I ensure that they are not disappointed. For products, we have tied up with local Goans while for delivery we have a tie-up with Fedex.

HERALD: Are you going to further diversify your business?

GM: In the near future, we plan to launch shopperssquare.in designed to have white goods products such as electronics, home and kitchen, personal care, etc. We also plan to get into the emerging fashion space at designerHQ.com. We have developed a virtual dressing room, personalised and social platform. We have the distinction of receiving copyright protection for the entire process. At the moment we are looking for mentors in the field of fashion and I hope that we will be able to launch it by the first quarter of next year.