Ideas to Innovation series: In conversation with the EY Entrepreneur of the Year Award Winner 2017 (Part 6)

Exclusive interview with Sunder Genomal, Managing Director, Page Industries

•You are behind the successful second entry of Jockey into India. How difficult was it to re-establish the brand?
When we launched in 1995, there was a void in the market for premium innerwear. Marketing in the category was virtually absent. As first movers, through our products and communication, we succeeded in making consumers understand the importance of good quality innerwear. We made retailers realize the significance of giving innerwear prominence in their shops and deploying Jockey brand display modules, allowing consumers to directly interact with our products. Through such strategies, Jockey revolutionized retailing and marketing in the category, thereby creating the premium innerwear segment, which Jockey continues to own in a big way as the most respected brand in the category.

• What were the key turning points in the Page Industries’ success in India?
Our success is primarily a result of adopting sound strategies, culture and values from inception and sticking to them, based on our deep understanding and expertise derived over decades with both the Jockey brand and the Speedo brand. Our strategies continue to evolve but in essence remain intact.

• How have you differentiated your brand vis-a-vis your competitors?
As leaders in the market, we believe credible competition can only be ourselves. So we constantly aim to improve and outperform ourselves in every aspect of the business, front and back end. We keep challenging the status quo, thereby we continue to breathe new life into our brands.

• While relocating from Philippines to India, what shocked you and what surprised you?
Nothing really shocked me. I did not walk alone throughout this journey. I was always blessed to have by my side the most amazing colleagues who possessed not just superb skills and talent but great culture and values. With this team, I know for sure the best of Page Industries is yet to come.

Exclusive interview with Glenn Saldanha, Chairman and MD, Glenmark Pharmaceuticals

• What made you follow the risky strategy of betting on creating new drugs rather than follow the tried and tested route to manufacture generics?
I always wanted to see Glenmark evolve from a generics organisation to a fully- integrated, globally commercialised pharmaceutical company with innovative products. We believed in the philosophy ever since we listed the company in 2000 and we have not deviated from the long-term objective of making Glenmark an Innovation-led company.

• How did you transform the culture of the company to gear up for innovation and risk-taking?
Creating a culture in the organisation that promotes innovation is very crucial. It is imperative to develop a spirit of entrepreneurship within every employee and provide the necessary freedom in their area of expertise. For us we think innovation is the best achieved when one can create a spirit of entrepreneurship within each department and function of the organisation.

• What are the new bets you are making to take the company into the next orbit?
We have an interesting innovative pipeline which has first-in-class monoclonal antibodies and bi-specific antibodies indicated for auto-immune disorder and oncology. Even if one of these molecules get commercialised, it will transform the company into an innovation-led company.

• What was the most important lesson you learn from your father?
The best lesson that I have learned is that while pursuing your vision, it is crucial also to build a robust business model which generates sustained profits to support your vision. Thus at Glenmark, while we relentlessly pursued our ambition of transitioning to an innovation-driven global organization, we consciously built a robust generics business to support the innovation business of the future.