Rajiv Mistry, Founder & MD, Ascent Meditech Ltd (brand owner of Flamingo) gets honoured as India’s Top Mind at the Indian Brand and Leadership Conclave 2022 held at ITC Sheraton organized by The Brand Story.
TBS Media – The Brand Story is India’s top brand rating company that honours brands and leaders propelling the country’s growth. TBS Media organized the Indian Brand and Leadership Conclave 2022 to bring out the stories of brands and leaders that are doing inspiring work in their respective fields while overcoming business challenges innovatively. Mr Rajiv Mistry, Founder and MD, Ascent Meditech Ltd was recognized as India’s Top Mind at the Indian Brand and Leadership Conclave 2022 organized at ITC Sheraton organized by TBS Media – The Brand Story.
Rajiv Mistry, a first-generation entrepreneur, started his entrepreneurial journey from a 450 Sq. Ft rented a room in 1991. The business was started by manufacturing and marketing India’s first electric Heat Belt with the named Flamingo. During the 90s, consumers were primarily using Hot Water Bags to treat Pain, however, it had its own disadvantages viz. zero consistency of heat, water required to be changed often etc. Mr Mistry visualized the advantages a customer would experience by replacing Hot Water Bags with electric Heat belts. True to his foresight, in a very short span of time consumer behaviour had switched towards Heat Belt considering the convenience of consistency in the heat it offered.
With a sheer belief that Pain is an integral part of human life, he diversified the business to offer sustainable products to manage pain viz. entering into segments like Orthopaedic Soft Goods, Bandages, Mobility, and Personal Protection & Hygiene. Today, these diversifications have helped Ascent Meditech Ltd.; to grow from a single product organization to becoming an organization which offers 400+ products across 5 categories. This spread has also ensured that brand Flamingo products are relevant cutting across age groups including the millennials. Today, flamingo pain management and personal care products are sold pan India as well as in 50+ countries across the world.
Every organization (big or small) passes through a stage where growth appears achievable but requires capital for capacity expansion. Ascent Meditech Ltd.; too had reached such a stage after being in the business for 25+ years. At that point, the thought of roping in a private equity player has not only assisted in setting up a greenfield manufacturing facility with a capacity of 1,20,000 units per day but also brought in modern-day professionals with new thoughts and ideas. With the new facility and professionals in place, the stage is set for a new phase of growth.
In the journey of three decades since its inception, Indian consumers have changed drastically and accordingly, the brand Flamingo too has evolved. Mr Rajiv Mistry understands this and does everything in his power to implement changes that meet consumer preferences. To keep up pace with the ever-changing customer profiles, Bollywood superstar Mr Hrithik Roshan became Flamingo’s brand ambassador. This genuine idea not only addressed the existing set of consumers but also helped in garnering the millennials of the world. This partnership between Hrithik and Flamingo is not only going very strong but has also led to the building up of brand equity. The category of sports is the process of coming of age in India and athletes due to their active lifestyle are on the lookout for support products which would prevent injury, reduce pain and help in their performance. Anticipating the future requirements and to take the first movers' advantage, Ascent Meditech Ltd.; entered into a partnership with a Japanese firm, Nippon Sigmax Ltd.; which is having a lineage of 25+ years and specialize in manufacturing sports support products. With this partnership, a new sports brand of support products was born this year viz. GoChamps, the design for which has been developed in technical collaboration with the Japanese firm.
Expressing his thoughts on receiving the award for India’s Top Mind, Mr Rajiv Mistry, Founder & MD, Ascent Meditech Ltd.; says “It is an absolute honour to receive this award. The journey which started with the vision of making a pain free society three decades back has only been partially completed. The runway is the world and we have a long way to go.”
Dr Abhay Kaushik, Editor in Chief and Director, TBS Media - The Brand Story said, “Mr Rajiv Mistry is a leader and a visionary who visualized the advantages a customer would experience on replacing hot water bags with the electric hear belt. In a short span of time, his company has been able to offer the convenience of consistency to the customers.” TBS Media – The Brand Story is proud to honour Rajiv Mistry as India’s Top Mind.
For more details please visit www.thebrandstory.co.in