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Shark Tank India 3 EXCLUSIVE: OYO's Ritesh Agarwal refuses to change misconceptions about his brand; know why
In an exclusive conversation with Pinkvilla, OYO founder and CEO Ritesh Agarwal opened up about his thoughts on the misconceptions associated with his company. Here's what he explained.
Shark Tank India 3 is making a huge buzz with its spirit of celebrating entrepreneurship. The business reality show keeps the viewers glued to the screens due to its interesting pitches and unique startup ideas. The panel of sharks has several successful entrepreneurs providing their advice and coming up with investments for the pitchers. Shar Tank India 3 judges, Anupam Mittal, Vineeta Singh, Aman Gupta, and Ritesh Agarwal, recently appeared for an exclusive interview with Pinkvilla.
Ritesh Agarwal on misconception about the OYO brand
While talking to us, we asked Ritesh Agarwal if he wanted to change the misconceptions about his company, OYO. The young entrepreneur said, "Nahi, dekhiye mere hisaab se do badi cheezein hain. Sabse pehla toh yeh hai ki judgment jo hai fundamentally nahi honi chahiye koi bhi customer aaye. Wo main nahi chahta ki misconception change ho (Nah, look, in my opinion, there are two big things. The first thing is that the judgment should not be fundamental, no matter who the customer is. I don't want the misconception to change)."
The OYO founder further commented, "Mere hisaab se wo sahi cheez hai ki aap jo bhi hain, aapke paas (According to me, the right thing is that whatever you are, you have) ability to use the hotel hai, hona chahiye (should be). Mere hisaab se mere ko koi disagreement nahi hai, naa hi koi misconception hai (According to me, I have no disagreement, nor is there any misconception)."
"Dusra yeh hai ki uske saath saath social media mein dekhta hun ki humare agar customer segment dekhe couples ki wo shayad 15-20 percent of business hain. Humare chaalis percent small and medium business humare saath rehte hain. 20 percent religious travel (Secondly, we have seen on social media that if we look at our customer segment of couples, they are probably 15-20 percent of the business. Forty-four percent is the small and medium businesses that stay with us)," he added.
Opening up more about his thoughts, Ritesh explained, "Abhi mujhe pehle Vineeta keh rahi thi ki Jai Shri Ram se shuraat karu aapke saath ki hello. Toh mere liye, I think the context is ki humare paas har tarike ke customers hain, har tarike ka market hai. Par uske beech mein judgement nahi hona chahiye. Usko lekar ke mere ko misconception ko badlane ki koi requirement nahi hai (Now first Vineeta was telling me to start with Jai Shri Ram, with you or say hello. So, for me, I think the context is that we have different types of customers and different types of markets. There should not be any judgment in our midst. I have no requirement to change my misconception regarding that)."
Watch the full interview here:
About Ritesh Agarwal
Ritesh Agarwal is the founder and CEO of OYO Rooms. He is the youngest shark on the panel in the third season of Shark Tank India. In 2013, he founded the company at the age of 24. As of now, the millionaire hotelier has established OYO as one of the largest hospitality and travel start-ups.
Most recently, he received an invitation to the Pran Pratishtha ceremony at the Ram Temple in Ayodhya. Expressing honor and gratitude, he kept updating netizens about the proceedings and the iconic event. Ritesh also explored the nightlife of Ayodhya during the Ram Mandir consecration ceremony.
For the unversed, Shark Tank India 3 has Ritesh Agarwal, Azhar Iqubal, Radhika Gupta, Deepinder Goyal, Varun Dua, Ronnie Screwvala, Aman Gupta, Namita Thapar, Anupam Mittal, Vineeta Singh, Peyush Bansal, and Amit Jain as judges.
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