MYOP: Kerala's Perfume Brand Journey

About this episode

In this episode, host Shan Salam interviews Rayhan Abdul Rahiman, the founder and CEO of MYOP (Make Your Own Perfume). Rayhan recounts his professional journey from a software engineer and solution architect in corporate IT to building one of South India's prominent fragrance retail chains. Inspired by bespoke perfume shops observed during a business trip to Tehran, Rayhan launched his first kiosk in Kozhikode with an initial capital of eight lakh rupees. He details the transition from bootstrapped beginnings to managing forty retail outlets across major shopping centres. Rayhan explains his data-driven approach to retail management, leveraging custom enterprise software built on platform-as-a-service frameworks rather than off-the-shelf software. He also elaborates on the science of fragrance manufacturing, explaining why denatured ethanol remains indispensable, the economics of mall kiosks versus full stores, managing bank credit lines, and executing decentralised hyper-local influencer marketing through retail store managers.

Key takeaways

1. 1Testing a retail concept with used kiosks helps minimise initial capital expenditure before scaling into larger store formats.
2. 2Enforcing strict operational profitability deadlines, such as breaking even by the second month, prevents struggling retail outlets from draining cash reserves.
3. 3Utilising low-code application platforms allows non-standard operational processes like custom compounding to be digitised cost-effectively.
4. 4Delegating nano-influencer outreach directly to mall store managers creates authentic local brand awareness at a fraction of agency costs.
5. 5Relying on bank overdraft facilities tied to business turnover can fund inventory and outlet expansion without diluting equity to venture capital.
6. 6Bespoke experiential products often suffer high return rates on mass marketplaces because customer expectations require tailored onboarding and sensory testing.

Chapters

1. 0:00:00Introduction
2. 0:09:45Opening the First MYOP Store
3. 0:11:46Initial Investment in the First MYOP Store
4. 0:14:04Challenges Faced in the Beginning
5. 0:20:08Understanding Overdraft (OD)
6. 0:25:34Transitioning to MYOP Full-Time
7. 0:30:16Selecting a Co-Founder
8. 0:33:35History of Closed Outlets and Reasons Behind It
9. 0:36:28Beginning the MYOP Brand Journey
10. 0:41:05Product Design and Functionality Considerations
11. 0:45:21Moving to HiLITE Business Park: The Reason Behind It
12. 0:49:56Smelling Scents Remotely?
13. 0:53:34USP of MYOP
14. 0:57:05Perfumery Course
15. 0:59:15Alcohol Content in Perfume
16. 1:02:25Effects of Temperature on Perfume
17. 1:04:11Scaling MYOP Offline
18. 1:06:47Understanding Customer Behavior
19. 1:08:16Demand of Product
20. 1:09:31Marketing Strategy & MYOP
21. 1:12:21Expanding Internationally
22. 1:13:04Not Choosing Marketplaces: Why?
23. 1:15:11Which Channel is Better: Online or Offline?
24. 1:19:41Conclusion