Sometimes, the “uncool” businesses may offer the biggest potential for profits.Nikhil Kamath, the co-founder of the stock trading app Zerodha recently shared some insights about an extremely profitable yet overlooked sector – thewedding industry.
The entrepreneur appeared extremely bullish on the prospects of the wedding planning sector. Taking to X (formerly Twitter), the billionaire wrote about how India has remained one of the desired wedding destinations. He also shared some statistics on how India currently had the second-largest wedding market in the world (the first being the United States) and how it had grown by an impressive 13 per cent from 2022 to 2023.
“With this industry as fragmented as it is, I can’t think of 5 dominant brands in this space that occupy any kind of mindshare,” he wrote. “With everyone focused on the IN industry right now, whatever is the flavor of the season; Traditionally uncool industries might be where massive opportunities are hiding..” he added.Kamath also shared a statistic from Wedding Wishlist Kamath said that the wedding industry is predicted to grow at a CAGR of 30 per cent and could overtake the United States wedding industry, in the coming decades.
The post went viral on the microblogging app, gaining more than 115K views and one thousand likes. “The proxy for Indian weddings are jewelers – Tanishq ( every quarter with wedding is best) and Hotel stocks. However, it is an industry where everybody wants to be unique – better and different from the other. How do you standardise something whose value is in being unique?” wrote an X user.
“Indian wedding market is a hot cake. If someone is building something in this space, hit me up..” wrote another user. “So true. Traditionally uncool industries are where money is. It’s where India spends. After being in tech industry for over 20 years, I realised India’s real problems and solutions are in these uncool spaces and the opportunity is immense. Much more than what 95% of the cool tech startups can actually make in India. We shouldn’t call it ‘uncool’ anymore,” commented another.
