In 2021, Ashni and Avni Bayani, the scions of industrialist Kishore Biyani’s Future Group, launched their own venture – a startup studio called Think 9 Consumer Technologies.
The concept was simple – they would incubate new brands across categories like apparel, beauty, health and wellness and food; and then use common teams for marketing, technology and even product development.
Why? Well, according to an executive from the startup studio, the end goal is to be able to build them into sizable businesses in 5-7 years and then exit. It’s called the roll-up modelled and it was pioneered by a US-based consumer good company called Thrasio.
For the Bayani sisters, this isn’t just another venture. It’s a full blown comeback. You see around the time they launched Think9 Consumer Technologies, their father’s business empire – the Future Group – was falling apart. It eventually went bankrupt in 2022 and sold everything lock, stock and barrel to Reliance Industries.
So the sisters have a point to prove. But unfortunately not everything is working in their favour.
For starters the roll up model they based their business on has been stuttering for some time now. Remember Thrasio? Well it filed for bankruptcy just last year.
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