Zerodha co-founder Nikhil Kamath has some beef against luxury clothing brands and he is not afraid to let it out in the open. On the latest episode of ‘WTF is with Nikhil Kamath,’ the renowned entrepreneur slammed luxury clothing brands for being ‘arrogant’. Nikhil inaugurated this platform with the intention to host several personalities and experts from various industries to initiate informal discussions with them on some of the trending topics.
Zerodha’s Nikhil Kamath calls luxury clothing brands ‘arrogant’
Zerodha is one of the biggest asset management firms in India and it boasts about offering the lowest and cheapest brokerage rates for futures and options, commodity trading, equity, and mutual funds. It was co-founded by Nikhil Kamath, the young entrepreneur who has slithered his way into the Forbes list of Billionaires in 2023. Not too long ago, Nikhil started his venture ‘WTF is with Nikhil’ which is a podcast on YouTube. In the latest episode, Nikhil had a long discussion with three friends, Kishore, Raj, and Ananth about what goes into building a fashion, beauty, or home brand.
In an attempt to decode the strategy used by multiple luxury fashion brands, Nikhil said that they use an offensive methodology that aims at provoking customers. He also mentioned, “The most offensive thing is to go to a shop where they are marking up a product one is to 1,000 times and then say you can’t buy this product until you build a relationship with us or get on a list or all of these hoops that you have to jump through.” Nikhil further expressed the need for public awareness of these brands’ “strategy of being arrogant” that has worked so well for them till now.
Video by ‘Nikhil Kamath’
Famous designers’ take on the matter
In an exclusive interview with The Indian Express, the RCKC Aurum designer, Renesa Rastogi took a neutral stance on the matter. She said that some people can choose to side with Nikhil, while others may still appreciate luxury brands for their quality and exclusivity. On the other hand, designer Shilpi Gupta agreed with Nikhil’s opinion but at the same time reasoned that luxury brands won’t be changing the way they deal with their clientele any time soon.