Economic Times (ET): Tell us more about EcoSoul Home and the need to create such a brand in the Indian marketplace.
EcoSoul Home (EH): EcoSoul Home Inc is a global eco-friendly product company with an active presence in countries like the USA, Canada, UK, Germany, UAE, India, China and Vietnam, offering more than 70 products in the market. We have multiple sales channels, including D2C, Amazon and Walmart.com, as well as a retail footprint in approximately 3,500 stores and B2B presence.As co-founders and young parents, we strongly believed in the age-old adage that ‘we do not inherit the earth from our ancestors, we borrow it from our children’. The journey of EcoSoul Home started with a deep passion for environmental sustainability and a desire to make a positive impact.
Driven by our passion for the environment, we started EcoSoul to fundamentally disrupt the global home-essentials market by bringing eco-friendly alternatives within the 25% price range of traditional mainstream plastic or paper goods. So, in 2021, we embarked on our entrepreneurial journey with the vision of EcoSoul Home Inc.
We are introducing more than 50 products in the Indian market in 2023, all of which are affordable alternatives to single-use plastics.
ET: Why is sustainability so important now? How is EcoSoul driving this message to all communities?
EH: India is home to 1.4 billion people and is highly vulnerable to the impacts of climate change. The country experiences a wide range of climate-related disasters such as floods, droughts, heatwaves and cyclones. Recent floods in the northern states of Himachal, Uttarakhand and Delhi is a testimony to nature’s fury. These events also have severe consequences on agriculture, water resources, infrastructure and public health, affecting millions of people and leading to economic losses.India is also the fifth-largest economy and one of the fastest growing major economies in the world. India’s economy heavily relies on agriculture, with a significant portion of the population engaged in farming. Climate change can disrupt agricultural patterns, leading to reduced crop yields and increased food insecurity, which, in turn, can have profound socio-economic consequences.
By leveraging innovative product/material solutions and optimising our supply chain, we have disrupted the home essentials market. Our approach allows us to bring eco-friendly alternatives to consumers at prices comparable to traditional plastic and paper goods, making sustainable choices more accessible and affordable.
We are actively driving the sustainability message forward to reach wider communities by offering affordable eco-friendly products, engaging in consumer education through social media campaigns and educational content, collaborating with local communities for workshops, and prioritising ethical sourcing practices.
ET: How are you harnessing Earth’s renewable resources to give back to the planet? Tell us a bit about the overall process.
EH: We create all of our products through agro-waste like bagasse, palm leaf, rice husk, wheat straw and tree-free options like bamboo. We prioritise materials that are eco-friendly, fully compostable and ethically sourced. Through international certifications and comprehensive eco-friendly supply chain management, we ensure that our products deliver on their sustainability claims. Currently, we have been able to reduce plastic waste by 1.5 million kg and cut CO2 emissions by 3.6 million kg through our products.
EcoSoul co-founders Rahul Singh and Arvind Ganesan.
ET: How are you able to contribute to the local economy as far as SME sectors are concerned? Please give some examples.
EH: We work with more than 50 manufacturers in India who mostly belong to the SME sector. With EcoSoul’s association, these manufacturers have gained access to the global markets and have exported GMV worth more than Rs 100 crore in sustainable products. Further, these manufacturers employ more than 1,500 people directly, creating more export-oriented jobs in the rural and unorganised sector.
Recently we signed an MoU with farmer collaboratives such as Krishi Kalpa, where we are now working directly with the farmers to procure raw materials like palm leaf. In association with Krishi Kalpa, we supported the creation of one of the largest palm leaf plates factories in the world in the rural district of Shivamogga in Karnataka. This factory now exports more than Rs 1.5 crore worth of products every month.
Moreover, we actively promote women’s empowerment by providing opportunities for employment, leadership and skill development. Our initiative has led to 40% female representation in the workforce within the local communities we operate.
ET: What is your domestic and international presence? What are the plans to ramp this up?
EH: EcoSoul’s primary markets are export-oriented. We have witnessed more than 800% increase in international sales in the last year. Over the next year we will launch an additional 4,500 stores in the USA and Canada; 1,500 stores in the UK, EU; and 500 stores in the UAE.
In addition to continuous expansion in the international markets, India is a big-bet for us in 2023-24. We already have a large presence in the D2C segment in India and over the next year we will launch into more than 15,000 stores in India, thus driving the mission of sustainability to every corner of the country.
Our goal is to expand the international presence to at least 10 more countries within the next two years while diversifying our sourcing operations across India, China, Thailand, Mexico and Vietnam.
ET: What are some of the innovative ways you are taking to reduce plastic waste pollution?
EH: Adopting eco-friendly products made out of agro-waste helps reduce our carbon footprint by up to 70% compared to traditional single-use plastic. They are manufactured using sustainable practices that minimise the consumption of natural resources and energy. By choosing products that are made locally “at source” from waste materials, organic ingredients, or renewable resources, we have significantly reduced the environmental impact of plastics.
Over the next year we not only want to continuously reduce carbon footprint through our products, Ecosoul is investing heavily in developing packaging of the products that are produced through agro-waste, reclaimed fibers and bioplastics. Our goal is to reduce single-use plastic by 5 million kg and save 10 million kg of CO2 emissions by June 2024.
ET: How well is India positioned when it comes to being a hub of green products?
EH: India has the three key ingredients to become a global manufacturing and export hub of “green products” – raw materials, talent and technology. It now depends on the startup and the MSME community to truly capitalise on this massive export opportunity. Our goal is to export GMV worth Rs 500 crore over the next year and we are on track to achieve such targets.
