Leaders

Women entrepreneurs in the fashion industry are making remarkable strides, navigating a space traditionally dominated by larger players. Their resilience and creativity bring a unique perspective to the ever-evolving world of style and trends. Among these trailblazers is Kanika Jain, a seasoned professional with a distinctive background in technology, specifically IT and security.

Transitioning from her corporate journey, where she contributed significantly to global organizations like Target, Accenture, Siemens, and PWC, Kanika ventured into the entrepreneurial realm with the establishment of Ikaanya. Her passion for gymnastics and dance wear, coupled with a robust 17-year career, has positioned her as a leader in the intersection of technology and fashion. Kanika's story exemplifies the transformative power of women entrepreneurs, breaking barriers, and bringing innovation and creativity to the forefront of the fashion landscape. In an in-depth conversation with Women Entrepreneur Magazine, Kanika shares with us her professional milestones, success mantra and much more. Let’s hear it from her.

What inspired your transition from an information security professional to an entrepreneur? What specific areas does Ikaanya specializes in?

Transitioning from an information security professional to an entrepreneur was a deeply personal and conscious choice, driven by a convergence of professional yearnings and market needs. The industry's reliance on fear and uncertainty started to wear on me, pushing me to seek a more meaningful path. Simultaneously, the discovery of a significant gap in the Indian market for dance and gymnastics costumes, notably for my twin daughters deeply involved in these activities, sparked the idea for Ikaanya.

Ikaanya is a one stop shop catering to the diverse needs of both gymnastics and dance wear. We provide specialized leotards tailored to the unique requirements of gymnasts. In dance wear we offer leotards for ballet, contemporary styles, Latin, Tango, and ballroom. Our vision is to broaden our scope gradually, encompassing other western and Indian dance forms and niche sports like swimming, cycling, biking, and more.

How has your background in information security equipped you for success as an entrepreneur?

Despite Ikaanya being a product-centric company, I recognize the importance of evolving into a technologydriven entity. Therefore, we prioritized integrating technology into every aspect of our processes, starting from our initial days. This has been instrumental in our rapid scalability and maintaining our quality. Also, having led teams in various capacities, I bring effective interpersonal skills to building the right team, engaging with customers, and managing suppliers which is an essential aspect of entrepreneurship, especially during the early days.

What are the major challenges you face in establishing and scaling up Ikaanya? How do you navigate and overcome these obstacles?

As a bootstrap startup, one of the most formidable challenges for us in the initial years centered around maintaining staff stability since their career aspirations often diverged toward multinational corporations or advanced studies. The frequent turnover hindered our pace, requiring repeated training sessions for new staff and impeding organizational stability.

To counter this, we strategically shifted our hiring focus, targeting graduates and entry-level individuals, allowing us to find motivated persons who could grow both individually as well as according to our business needs. This shift not only ensured a more stable workforce but also created a collaborative environment, where everyone is aligned on growth by doing their part.

We also face a typical challenge or belief that Indian consumers are price-sensitive, however, our focus on quality, and value for money was recognised by our customers quickly. Our offerings aren’t meant to necessarily be the cheapest in the world always, but they are invariably of high quality and highest value.

From its inception, what significant milestones has Ikaanya achieved? What is the vision you have for the brand's future?

In our three and a half years of existence, Ikaanya has achieved notable milestones, establishing itself as a renowned brand in the gymnastics domain. Our recognition extends to national and international levels, supplying products to esteemed gymnasts, including Pranati Nayak, who wore Ikaanya at the Tokyo Olympics. This association marked a significant milestone by elevating our visibility and credibility in the industry. Operating in both B2B and retail spheres, we have expanded our reach on platforms like Amazon, Myntra, and Flipkart, alongside maintaining our dedicated website.

We want to have a global presence in gymnastics and dance wear within the next three years. While our primary focus remains on robust growth within India, expanding our footprint internationally is another key goal. The immediate plan involves venturing into the US market and subsequently exploring opportunities in the Middle East within the next six months. We’ve had international B2B buyers in the past, but COVID put a pause on those efforts.

As a leader, what qualities do you believe define you? Can you share your mantra for achieving success?

As a leader, my guiding philosophy revolves around aligningpassion with purpose. I firmly believe that dedicating time to work that one genuinely loves fosters not only personal enjoyment but also unparalleled professional growth. This approach not only makes every moment fulfilling but accelerates personal and organizational development. My leadership style centers on encouraging individuals, particularly aspiring entrepreneurs and working women, to identify and immerse themselves in spaces that align with their passion. I believe this is the key to unlocking one's full potential and achieving enduring success.

• A business leader you admire- Charu Agarwal - Founder of the ISHIN women's fashion brand. Even as a startup, she focused not just on growth but also profitability.

• Advice for aspiring women entrepreneurs and business leaders- Embrace your identity as a woman entrepreneur, acknowledging the unique challenges, seek support when needed, and reciprocate by helping others.

Kanika Jain, CEO & Founder, Ikaanya

Kanika Jain is a seasoned professional with a robust 17-year background in technology, specifically information security. Her journey began with a Master's in Information Technology & Security from Carnegie Mellon University. Kanika's corporate experience spans across renowned global organizations, including Target, Accenture, Siemens, and PWC. Having worked in diverse locations such as the US, Germany, and India, she brings a wealth of international exposure to her endeavors. Kanika is now navigating the entrepreneurial landscape as the Founder of Ikaanya, combining her tech acumen with a passion for gymnastics and dance wear.