Midas Factory manufactures Metallic Stickers for use across multiple surfaces.
After completing her senior secondary from Jamna Bai Narsee School, Ritika armed herself with an IGI- Diamond Grading Course at International Gemological Institute as well as a Bachelors in Management Studies from HR College and MSc. in Innovation & Entrepreneurship from the University of Warwick. She also worked as an Account Executive at Geometry Global, WPP organisation for a year.
Soon after this she decided to join her family business four years after its inception. “My Dad developed a machine that manufactured gold plated metallic stickers out of sheer passion and I never really thought of being associated with it. It started initially as a platform on Instagram to order stickers that would brighten up electronic devices. Soon I started understanding the versatility of this product and I found similar businesses in the gifting area whom I started getting in touch to grow the business.”
The business model Ritika adopted was simple. “I would create digital designs, which I would then upload onto Midas Factory’s Business Profile on Instagram and subsequently move on to taking orders from people who messaged or called us.” Over time these stickers have found use in unusual ways like spokes inside a watch and numbers inside the watch too. The 2500 square foot factory in Mumbai has a manufacturing capacity of close to 10000 stickers per day.
Ritika’s business has two channels – retail and wholesale. her retail line focuses on her product on different textures and materials ranging from stickers for laptops, ceramics, leather goods, canvas, quirky shot glasses, passport sleeves, luggage tags and more. The wholesale business focuses on stationery, wedding decoration, fashion, confectionery and bakeries, jewellery and candle and lifestyle brands. She has worked with big names including Dharma Productions, Being Human, Salman Khan’s DaBang tour, Titan Saga, Poetry By Love & Cheesecake, Aza fashions and Manish Malhotra among others.
Being a woman in a manufacturing setup Ritika admits there were initial hiccups. “I did have difficulty understanding the factory workers as they were a little apprehensive about receiving instructions from someone considerably younger and newer. But slowly I have built a rapport with them.”
Also the product itself being quite niche and exclusive had challenges of being understood as far as its usage. “I went on to realise, that I needed to show its versatility, and that is when I went on to explore my passion for different textures and further went on to develop more exclusive retail products.” The company has recently launched – Vellum (butter paper) with Gold Metal Lettering and Acrylic sit-down dinner place cards and is looking to grow internationally within the gifting segment.
This story first appeared in The Sindhian Jan-Mar 2019 issue here: Ritika Sachdev