Rhea Nihal Singh completed her undergraduate studies at Emory University, where she pursued a dual degree in Economics and Theatre.
Shortly after their marriage, Rhea Nihal Singh and her husband, Raunaq Singh Anand, found themselves confined to their home due to the COVID-19 pandemic. As fitness enthusiasts, they desired to create a home gym but faced a challenge: the lack of reliable fitness equipment available in the market. They were left with two options: settle for low-quality products or import expensive equipment at a substantial cost.
Recognizing that others were likely facing the same dilemma, they decided to address this issue by establishing their own direct-to-customer brand called Flexnest. The company’s primary focus is to provide high-quality fitness equipment directly to consumers through online channels. By doing so, they aim to bridge the gap in the market and offer individuals a convenient and accessible solution for their fitness needs.
Within a remarkably short span of less than three years, they have successfully established and developed their brand.
Rhea Nihal Singh pursued her Bachelor’s degree in Economics and Theatre at Emory University, showcasing her diverse academic interests. Prior to that, she completed her schooling at Vasant Valley School.
During the inception of their new business venture, Raunaq was employed in his father’s car component manufacturing company. Rhea subsequently joined the business, and together they initiated their own company in Gurgaon, starting with a minimal staff of just five individuals. Astonishingly, in its inaugural year of operations, the company generated an impressive revenue of Rs 37.5 crore.
The equipment offered by the company is meticulously designed in Germany and manufactured in China and Taiwan. A significant portion of their sales is attributed to their website and various online marketplaces.
Similar to Raunaq, Rhea hails from a distinguished business family in Delhi, with her father being a cloth exporter.
Their paths first crossed while studying in college in the United States, and their relationship blossomed. They eventually tied the knot in January 2020, embarking on their journey as a married couple.
Anticipating continued growth, the company had set its sights on achieving a revenue milestone of Rs 100 crore for the FY 2022-2023.
In the month of January 2022, their revenue amounted to an impressive Rs 3.83 crore.
Prior to embarking on her entrepreneurial journey, Rhea gained professional experience by working for NDTV and subsequently in public relations. On the other hand, her husband pursued a mechanical engineering degree from UC Berkeley, followed by a master’s degree in management from Duke University.
In a strategic approach, they introduced their devices in phases rather than launching them all at once. Given their constraints in terms of time and capital, they opted to outsource the manufacturing process instead of setting up their own manufacturing facility. This allowed them to focus on other aspects of the business while leveraging the expertise and resources of external manufacturing partners.
Due to their profitability, they have chosen not to pursue external funding and instead have generated capital through banking solutions.
In addition, they adhere to a non-burn-through policy, which means they maintain a prudent approach to expenses and prioritize sustainable growth.
Significantly, nearly half of their products are sold in Tier 1 cities, indicating a strong presence and demand in urban centers.