Rima Jain makes me laugh: Manoj Jain

When you are Raj Kapoor's son-in-law and married into India's first film family, you are bound to get intimidated. However, businessman and investment banker Manoj Jain wasn't in the least! "I was never intimidated. One could have been in a position where could have got intimidated but I was not. I knew the family for many years. I was studying in Europe for about 12 years (he did his masters from London School of Economics) so I knew the family since the time I was in school so it's been a long, long relationship," he recalls.

Tall, well-spoken and unassuming, Manoj cuts a striking figure as I meet him at his sprawling office in Fort overlooking the heritage colonial buildings.
Even though he is Rima Jain's better half, he likes to stay under the radar. Manoj is an investment banker – finance being his forte for the last 25 years. He also incubates and builds new businesses. "It's across genres – it could be technology, brand's business. It's where we find the value to be derived – we go and invest and hopefully we build the business," he shares.

Bringing affordable glamour
He's brought Aftershock - a premium high street fashion brand to India this month and has major plans to entrench it firmly in the retail space. He celebrated the opening of the first store located on the third floor of Palladium mall by throwing a party.
"If we look today in India what we find, the demographics of the population is at a very interesting juncture. Sixty per cent of young India is below the age of 40, which is the aspiring population. It's an aspiring generation that wants better quality of life, wants to buy brands, but what is more important is that they want brands at a price. The entire online model in India is a discount model. All the brands go, bring their stock, end of season at 10 to 15 per cent of retail, they discount it. The importer makes 30 per cent and online makes 30 per cent – that's been the model. If you go to see what's happening in India today in terms of the brands that are present over here, you have the basic, you have the Indian designers – contemporary as well as fusion and then there are luxury brands. There are a very few aspirational bridge brands in the country. What we are attempting to do is – bring Aftershock which is the aspirational bridge brand. We want to bring in glamour but affordable glamour. This is the really niche market which we are attempting to address. A woman from the age of 18 to 40 can go and buy glamour but not pay designer prices. That is really the whole model we had set up in India."

Fashion observers would recall that Aftershock had come to India about seven to eight years ago. "The principal had set up its flagship store here and they gave the franchise out. The franchise was given to a Bahraini group. The group had some issues in Bahrain. They were holders of multiple franchises across the globe. As a result of financial constraints, they shut down all their franchise operations including Aftershock. That's how the brand went out of India. We were approached by the principals who asked us to bring Aftershock back into India. That's how we brought the brand back."

Experience in brand business
Manoj has had brands business for the last four to five years where he's been importing eye-wear from Europe from the principals – about 14 luxury brands and he's been supplying to online market. "We have been in the space for about four- five years and we felt that there was potential to bring a brand offline. We waited because over the last two years, the Indian retail market and the overall market has been depressed – on account of political situation, economics and growth factors. We felt that this was the right time – we had stability, government majority."
In Aftershock there are four equity holders – Nirmal Momaya, Ashish Dandekar and Shah family.

Future plans
"We want to roll out this brand on a franchise basis – obviously, firstly in all the major cities. We also find a lot of potential in tier-two cities. We are currently talking to two to three franchises in north India and Middle East. Hopefully, we should roll out two to three stores in the current year," he shares.

Business mantra
"You may have a set business mantra but what you perceive and what actually transpires in reality are two different things. What happens is – you keep working on a philosophy but you keep modifying your strategy as you go along and as you get the responses to whatever business you are in. Adaptability is the key and ability to change according to the market condition," says he with a hint of conviction.

Family background
"Our roots are from UP. We are traditionally a farming family and we have mango orchards in UP from my great grandfather's times. Over a period of time, the family evolved and put the industry up. My family was in textile business for 30 years and manufacturing fabrics. Fabric is the essence of fashion. Even if you go to designers they don't understand fabrics. They go by feel. If you go by feel, the possibility of going wrong with the garment is higher. You don't know how it's going to drape after the first wash. We created a lot of fabrics at that time for groups in the UK. We were the pioneers of the Poly Viscose boom that came way back in the 80s. There's a lot of intrinsic knowledge of the business."

However, Manoj's vocation was not something his family did. He chose finance. "I set up my own financial service company which does investment banking. It does private equity and valuations of businesses. How to improve businesses and we create values. We work with a lot of corporates and create value for them – that's the core. We started with secondary market first and then we realised we should create value for ourself. Then we started new businesses."
It was a great challenge initially because it was highly competitive. However, he found his niche.

Future in films?
His son Armaan made his film debut this year with Lekar Hum Deewana Dil, one's keen to ask him if he'd venture into the film business.
"The wonderful thing is that – I have been married in this family for 26 years but we don't discuss films when brothers and I meet. We enjoy food and that's more important. I have two boys who are already in this space – Armaan has done one movie, Adar is working as an assistant director and Armaan hopefully will take his second project shortly. I really don't understand the space. I have always told both my boys that investment banking is people's business, it's very specific. I told them since they were young that they'll have to find their own genre. They found the film genre so it's for them to choose really which way they wish to go in life and work hard at it. Whatever space you are in – it's hard work and perseverance that pays off."
He adds, "It's not the space I understand fully to guide them. Of course, we discuss the basic genre of the movie, the target audience etc. The rest of the details are left to them."

Keeping up with the Kapoors
Kapoors are known for their rambunctious banter while Manoj is relatively low-key and understated.
"Everybody talks at the same time so they don't get anywhere. But they are fun, clean-hearted and they enjoy life and that's a great mindset also. I knew the family for many years before I got married. It was a bit of both love and arranged marriage. I was very friendly with Rajiv, the youngest brother," he shares.

Rima and I
Rima is young-at-heart and life of any party. She's adored by her friends for her gregarious and warm demeanour. So is this the case of opposites attracting?
"One is sedate and one is boisterous – that's a good blend. Over a period of time, you adapt to each other's temperaments. Everybody knows how to give space to the other and that's the way to go. I see this younger generation - there is very little room for compromise. You give each other space and everything falls into place."
They say that romance flows out of the marriage and you have to work at keeping the spark alive and kicking. "You have to work at a marriage. Once you find a platform, you have your children and they come to that platform. She makes me laugh all the time and entertained," shares he with a smile.

"Compromise and space are two important things and understanding of your partner," he adds.

What has he learnt from the Kapoors over the years? "Kapoors know how to live life. You learn how to live life and that is really one important element. There's more to life than work and vice versa."

How much has sharing his world canvas with Rima transformed him?
"I was carefree. I was one of those people without responsibilities. I have changed 360 degrees. You evolve with life over time, circumstances, situations, as you go through life, you keep on evolving and it is a continuous process till the end. You grow mentally – you realise what is right, what is wrong. Situations change so you have to evolve with that."

Memories of the late father-in-law
Manoj got married six months after Raj Kapoor passed away but he spent a lot of time with the late legendary filmmaker. His face lights up as he reminisces. "I used to stay at the house also. He was a larger-than-life man and a visionary. A man who saw ahead of his time. He died at a very young age – 62 but the knowledge which he acquired and it was all self-acquired knowledge and vision. Today if you go back and see the movies he made they all had such social elements. Elements that even today governments are discussing. He was a man, 30-40 years ahead of his time. There was a lot to learn from him," he shares with a hint of pride.

Being the Rock of Gibraltar
When Ritu, Rima's sister was diagnosed with cancer, Rima and Manoj were the great pillars of support and strength to the family. He recalls, "Rima moved to the US for roughly two years to be with Ritu. All the boys in the family were working and being a close-knit family that they are, somebody was required to be there and I think the only person who fit was Rima. It is said that when you have an illness more than the treatment, it's the support system that surrounds you which really carries you through. I think that was essential. It's the post-care, the support you get and a lot of treatment after that - so it was understood. The whole essence of being a family, during the time of need is - you have to be there."

Fatherhood
"I have given both the boys space – to choose their vocations. Also, space to really choose their path. They have to go through life learning by themselves. What I aspire to do – is to lay a value system down and then they have to grow with that value system. That's where I come from. You have to imbibe a certain value and then you have to grow under that umbrella. I am not an imposing father. I am more like a friend," he says.

Dealing with the media
"I don't mind getting photographed. If I am doing an event which requires me to be there and the presence is synergistic with what I am doing, for example, the launch of a brand – no issues at all. But just getting photographed for the sake of it – that's not where I come from. It has to be synergistic to what you are really doing," he says.

Partying
"I think I have done too much of it in the past. I work long hours, wake up very early and I am the first one in the office. I sleep early also so I try to lead a balanced life. Rima's timings are slight different. I think we have two shift system in our house (laughs). I am not invisible. I am visible."