After spending 18 years at Tata Consultancy Services (TCS), Ramya Devanathan decided to leave corporate life and build a business around traditional Indian sarees. Starting Madras Sarees in 2021 with an initial investment of Rs 2 lakh, she has grown the venture into a business that reported Rs 12 crore in annual turnover last year, with a projected annual recurring revenue (ARR) of Rs 22 crore this year, according to her account in an interview with The Weekend Leader.
The Chennai-based direct-to-consumer (D2C) brand sells sarees through its online platform, offering a range of fabrics, including cotton, linen, silk cotton, khadi and tussar. Its growth has involved taking a traditional product category online while building the technology, processes and customer relationships needed to operate a digital retail business.
Devanathan spent nearly two decades in the technology sector, working in an environment shaped by established systems, processes and delivery mechanisms. She has described herself as a "Tata product", reflecting the influence of her corporate experience on how she approaches business.
The COVID-19 pandemic became a turning point. As consumers increasingly relied on digital platforms to access everyday essentials, Devanathan saw an opportunity to take her interest in sarees beyond a personal passion.
"We all got stuck in a room... everything was happening online, be it medicine, groceries, food... so I decided that I should follow my passion," she said in the interview.