GenLifespearheads a unique business model; makes lives better
The brisk paradigm shift in socio-economic scenario of our country in recent years has saddled our society with adverse consequences of a sedentary lifestyle. Our unhealthy eating habits coupled with urban lifestyle with minimal to zero activity have wreaked havoc upon our wellness. Not to mention, our bodies are working under magnified stress levels and we don't have time for letting that stress escape us; which makes things worse. Over the course of time, all of these factors have paved the way for India growing into the Diabetes and Cardio-Vascular Disease capital of the World. Our little awareness about health does take us to doctors for treatment but with healthcare costs flying high it is proving to be a huge economic cost.
To stop such a quagmire from getting worse, it is high time that we must focus on prevention of disease and subsequently improve our lifestyle. This crucial need became the reason behind incorporation of GenLife, the only company in India that deals in unique / innovative Nutraceuticals and Cosmeceuticals, both as preventive and curative therapies, through Doctor's prescriptions. Sandeep Jha and Vinod Nair, both veteran management professionals established GenLife after theymade an assessment having researched patterns around the globe besides surveying customers in India on a large scale. In a chat with Startupcity Magazine, Mr. Sandeep Jha reveals, lack of awareness in the Indian population regarding preventive therapies pushed us towards a model wherein we sell our Nutraceuticals and Cosmeceuticals through Doctor's prescriptions as Doctors understand the benefits and mechanism of action of such products. Such a model will allow a gradual percolation of information to the consumers and hence create awareness in the long run."
GenLife launched its operations on 31st July, 2011 at a stellar event that was patronized by more than 250 eminent Doctors and many pharmaceutical industry stalwarts. The company initially started its business with four unique and under patent products from Japanese manufacturers. Having spearheaded a sui generis business model, GenLife has kindled the light of awareness about prevention of health risks. The company's exclusive and ever expanding product portfolio holds groundbreaking products which are clinically proven effective in curing and preventing diseases. These products may be used as co-prescription with Drugs to significantly enhance the efficacy of the treatment or it can also be used to replace a drug in certain cases. The greatest advantage with these products is that they are devoid of side effects and thus are a healthy replacement for drugs. Consistent use of these products help in preventing concerned diseases which is the prime objective.
Entering into an uncharted territory was a potential risk for the company; however, necessary safeguards and fail-safes have been developed and were put in place to overcome pitfalls.The founders of GenLife built robust strategies and carved out a plan that would help them traverse the road to success. They were certain about the fact that the target audience has to be informed and educated about the possibilities of disease prevention. This shaped their decision of getting their productsprescribed through Doctors. Speaking of their marketing initiatives, Mr. Vinod Nair-founding member & Director at GenLife enlightens us, "We have setup a Concept Marketing Team which explains the concept and the products to Doctors, who find it much easier to understand the mechanism of action of our products and hence are able to make an informed judgment on who should these products be prescribed to. We, in short, focus our marketing efforts on the Doctors who prescribe to their patients. These patients then buy from us directly or through pharmacies / hospitals. To the Doctors we market a relatively new concept wherein they are able to treat their patients with safe and natural products quite effectively without side effects." It is remarkable that Doctors who patronize GenLife's products are very happy with the results they get in their line of treatment. Not to mention, the team has achieved some success in generating awareness regarding prevention of life threatening diseases and the benefits of these products. The Customer Relationship Management department at GenLife comprises a team of PharmacyGraduates in order toserve the purpose and handle all consumer queries effectively.Also, the firm has participated in and sponsored many academic programs, seminars and clinical research to create awareness and acquire knowledge, regarding the latest trends in Nutrition and Health.
GenLife has been successful in carving out an enviable niche for itself in a relatively short span of time. Soon after a year of its launch, it began expansion of its footprints and started its sales operations in Mumbai, Hyderabad and Pune within a year. Today, its presence also encompasses Bangalore and Ahmedabad. A proactive approach towards achieving growth has led to developing a rich and unparagoned product portfolio that covers 15 unique and innovative products with little or no competition in the market. Today, GenLife is a home to an expert, professionally-qualified and highly skilled team of more than hundred employees in a flat organization structure which breeds responsibility, sense of ownership and entrepreneurship.
Apprising us of GenLife's road ahead, Mr. Vinod Nair shares, "We are looking forward to expand operations in Kolkata and Chennai within this year. We are also looking for Franchisees to penetrate deeper into the fast growing Indian Tier 1 and Tier 2 markets. We aspire to become India's top Nutraceuticals Company offering innovative, proprietary & patented products to its customers through a unique delivery model & robust supply chain with dedicated consumer care, R&D, accredited manufacturing & analytical capabilities to create an attractive value proposition for all stakeholders. Over the coming few years, GenLife has plans to increase its revenues 30 fold, expand the product portfolio to 50-60 similarly positioned products and create a direct presence in a total of 35 Metros and Tier I locations."
SANDEEP JHA,CEO& MD-GenLife
An alumnus of IIT-Banaras Hindu University and Indian Institute of Management Calcutta, Sandeep has more than two decades of profound experience enriched by his service at key designations with giants like Jubilant Organosys Ltd, Ranbaxy Laboratories Ltd and Sterlite Industries Ltd. His expertise encompasses Business Strategy, Trade and Corporate Finance, Marketing, Manufacturing Operations, Global Supply Chain Management and Business Systems.
VINOD NAIR, Director-GenLife
Vinod earned his Bachelor's degree in Commerce from Delhi University and has PGDP in Management. His expertise covers 24 years of professional experience rooted in his service with Shaw Wallace Ltd, Allied Domecq and as an entrepreneur.His enriched portfolio envelops specialization in Business Development, Finance and Accounting, Global Sourcing and International Operations. He is spear-heading GenLife's Novel Initiatives at present.