Rhea Nihal Singh did her Bachelor's degree in economics and theatre from Emory University.
Just months after their marriage, the coronavirus pandemic locked Rhea Nihal Singh and her husband Raunaq Singh Anand inside their home. The fitness enthusiasts wanted to build a home gym but couldn't find good fitness equipment on the market. They were forced to choose between two options -- buy bad quality products or import equipment spending lakhs of rupees. They realised others would be facing the same problem. This issue resulted in the birth of their direct-to-customer brand, Flexnest. The company sells good quality fitness equipment on the internet.
They have built the brand in just under three years.
Rhea Nihal Singh did her Bachelor's degree in economics and theatre from Emory University. She completed her schooling from Vasant Valley School.
At the time of the launch of their new business, Raunaq was working in his father's car component manufacturing company. Rhea later joined the business and started the company with a skeletal staff of 5 people, in Gurgaon. In the very first year of operations, the company made Rs 37.5 crore in revenue.
The equipment is designed in Germany and is manufactured in China and Taiwan. Most of their sales come from their website and marketplaces.
Like Raunaq, Rhea also comes from a prominent business family in Delhi. Her father is a cloth exporter.
They met in the United States when they were studying in college. They got married in January 2020.
The company was expecting a revenue of Rs 100 crore in FY 2022-2023.
In January 2022 alone, their revenue was Rs 3.83 crore.
Before becoming an entrepreneur, Rhea worked for NDTV and then public relations. Her husband studied mechanical engineering from UC Berkeley and a master’s degree in management at Duke University.
They kept introducing their devices phase-wise. They didn't want to manufacture them themselves. Hence, outsourced the process. They didn't have the time or the capital to set up their manufacturing space.
They have been profitable, so they didn't go for external funding. They have generated capital through banking solutions.
They also don't have a burn-through policy. Nearly half of their products are sold in Tier 1 cities.
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 "Rhea Nihal Singh: In January 2022 alone, their revenue was Rs 3.83 crore. (File)")
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