it WOMEN ENTREPRENEURS® article is part of our ongoing series highlighting the stories, challenges and triumphs of running a business as a woman.
Opinions expressed by Entrepreneur contributors are their own.
“I started holiCHIC in 2015 before it became the 'cool' thing to do,” says Megha Rao, founder of HOLICHIC. “I never found what I was looking for in stores: mixing and matching a traditional Indian wardrobe with my modern American clothes. Because pairing a sari blouse with jeans or adding Indian jewelry to a Western dress is a reflection of who I am “.
Growing up in Queens, New York as the daughter of immigrants, Rao found herself often caught between two very different worlds. At home, she followed traditional Indian customs, ate Indian cuisine and spoke her mother tongue. But at school, she lived a completely different life, immersed in the modern American lifestyle.
“I remember having Mehndi on my hands after spending a summer with my grandmother in India. The girls at school were screaming and saying I had blood on my hands,” says Rao. “I also had hair up to my waist and they teased me and asked me “why do you have such long hair” and “why don't you cut it”.
Image credit: holiCHIC
While Rao was affected by bullying, she was never ashamed of who she was. Her childhood summers spent with her grandmother exploring the markets of Mumbai gave her a renewed sense of cultural assessment and creativity. Fashion became her outlet for self-expression.
Now holiCHIC, a women-led brand, echoes her love of South Asian culture and upholds centuries-old craftsmanship. Actresses like Mindy Kaling, Poorna Jagannathan, Richa Moorjani and more have worn pieces from holiCHIC and the brand has collaborated with Lilly Singh.
“By creating pieces that reflect my personal style and identity, I'm helping other women do the same,” says Rao. My brand empowers women to own their identity and express themselves with confidence through fashion.
Here are three lessons Megha Rao has learned along the way as she disrupts the fashion industry.
1. Focus on your journey and stop comparing yourself to others
“I spent six years continuing to build my career at Citigroup before leaving to focus on holiCHIC full time,” shares Rao. “I've been balancing corporate work and side hustles for as long as I could. Too often, I see founders feel the pressure to jump right into their business to prove they're committed and serious. Do what makes sense to you AND stop comparing yourself to others.”
Rao built her career at Citigroup over 15 years. She credits her time there for preparing her to launch her own business, really building a strong understanding of marketing, finance and sales. “I was able to try, try and learn things while building holiCHIC while I held down my full-time job. I made decisions without thinking things through. It took me longer to start my business and I don't regret it.”
It was in 2021, during the Dior fashion show held in India, that Rao knew that this was finally her moment. All eyes were on Indian fashion and she decided to leave Citigroup and work full-time at holiCHIC.
2. Strike a balance between passion and execution
“I was very passionate about our holiYOGA collection and wanted to launch it as soon as possible. We started a big campaign and pre-sale before the product arrived,” says Rao. “But soon into our pre-sales, we ran into unexpected complications with our supplier, which caused shipment delays and forced us to switch manufacturers and ultimately delay the launch.”
Rao recalls the impact on customers and the stress it caused the team. In retrospect, she would have introduced the idea her community. He then brought them along the launch journey by sharing behind-the-scenes footage of design and production on social media. She would have made the collection available for pre-sale much later in the development process.
In the end, Rao and her team brought a better quality product to market. Today, it is one of the best-selling collections for the business. She cautions founders to strike a balance between passion and execution.
“I wish I had been more patient and waited until everything was in place. It was definitely a lesson in preparation time,” she says.
3. Find your leads and don't wait for “that introduction”
As a founder, Rao is constantly studying the market and is looking for ways holiCHIC can better serve its customers.
“I knew that Diwali in New York City was an important moment; there were so many events happening in that time frame. So many individuals needed a way to shop for accessible, relatable pieces that they could try on and 'they would buy them on the spot,' says Rao. “I knew holiCHIC was the answer.”
Rao spent 9 months trying to do it Diwali pop-up shop a reality. She emailed, DMed, called cold and left messages for shoppers across town. She didn't have the retail contacts she needed, so she spent hours and hours trying to figure out who to tell.
“My time in sales taught me that I don't wait for that introduction, I pick up the phone and make the calls myself. So find your data, get back to the basics and start cold calling,” she says.
Rao eventually found the name of the manager who ran a particular Nordstrom location in NYC on LinkedIn. She called the store, asked to be transferred to her office and left an email message. The store manager called Rao and understood and connected with her vision. Last Diwali, Nordstrom partnered with holiCHIC to showcase the brand through a pop-up event. The retailer understood the brand's vision and supported them in bringing their unique style to their customers.
Today, holiCHIC has grown 5x over the past five years, averaging 100% year-over-year sales growth. The brand is looking to raise capital in early 2025 as Rao aims to expand further, target new demographics and explore wholesale and retail partnerships.
“There are times when I think I have to work 10 times harder to be seen and heard as a woman of color in this very saturated industry,” Rao says. “And, being a woman of color has also been my superpower, giving me a unique edge and perspective to take my business to the next level.”