Rakesh Aggarwal

Last updated

Rakesh Aggarwal
Born
Rakesh Aggarwal

(1975-08-16) 16 August 1975 (age 48)
Cardiff, Wales
NationalityWelsh
OccupationInternet retailing
Website Escentual.com

Rakesh Aggarwal (born 1975[ citation needed ]), is a Welsh businessman and founder of the internet cosmetics retailer Escentual.com. [1]

Contents

Early life

Aggarwal is the son of Raj K Aggarwal OBE DL (India's honorary consul in Wales), [2] and Mrs Usha Aggarwal. His father left Kenya in the 1960s to settle in the UK, and after training as a pharmacist, ran a chemists shop in Cardiff. [3] Aggarwal's grandfather was a businessman in Kenya. [4]

Aggarwal grew up in Cardiff and attended The Cathedral School, Llandaff before moving to Malvern College as a boarder. After A-levels at Malvern, he studied pharmacy at King's College London, but halted his studies in the second year and returned to Wales. [3] He then enrolled on Cardiff University's MBA course, graduating with a distinction in 1999.

Escentual

In 2000, Aggarwal took an e-commerce course and then spent £5,000 on design before launching Escentual.com from his parents' garage. [5] Escentual.com took its first order in November 2000. [1]

In 2011, Escentual.com posted sales of more than £10 million and won the Beauty, Perfume & Cosmetics category at the Online Retail Awards. [3] [6] By 2012, the business was being described as "the Amazon of online beauty" by Moneyweek. [1] At that point, Escentual.com employed 16 full-timers as well as part-time picking and packing staff. [1] According to Retail Gazette, the firm's turnover for 2014–2015 was £14m. [7] In the 12 months to March 2015, Escentual shipped 300,000 orders from over 200 brands. [7] As a result of its growth, Escentual.com moved to a bigger warehouse in Cardiff's Ocean Park. [8] The move, predicted to create 100 new jobs, was backed by the Welsh Government. [9] Economy Minister Edwina Hart said: "The significant number of jobs the company is creating illustrates the important role that entrepreneurs play in the economy ... I am pleased its growth plans will be taking place in Wales." [10]

Aggarwal has insisted that Wales, and Cardiff in particular, has been integral to the company's success. He told The Western Mail: "We find the environment here in Cardiff conducive to, and supportive of, business." [11] He has also credited social media with helping customers interact and keep abreast of developments with the company. [12] Alexandra "Binky" Felstead from the augmented reality TV show Made in Chelsea is a beauty ambassador and blogger on behalf of Escentual.com.

In 2015, in association with London Metropolitan University, Escentual.com commissioned research into the risks posed by out-of-date make-up. [13] Laboratory tests, on foundation, blusher, lipstick and lip gloss that had passed their sell-by date found that they contained dangerous levels of enterococcus faecalis – the bacteria responsible for meningitis and septicaemia. Researchers also found staphlyoccocus epidermidis, propionibacterium, and enterobacter, which causes urinary and respiratory tract infections. Speaking to The Daily Express, Aggarwal said: "This research has even surprised us and has shown that there is a serious health risk here." [14]

Other analytics, published by Escentual.com, were reported to show a rise in online sales whenever England were playing in European football matches, suggesting that – while their partners watched the games – women were opting to shop online instead. [4]

Aggarwal has said that his approach was inspired by his grandfather, who was a businessman in Kenya. [4] He told journalist Chloe Rigby: “The adage my grandfather used to tell me was: quality, service and satisfaction." [4]

Other interests

In 2015, Aggarwal was elected a trustee of Cardiff University Students Union. [15] Aggarwal will serve a four-year term focusing on issues of governance, strategy and finance. [16] Aggarwal was elected vice chairman of the Cosmetic & Perfumery Retailers Association (COPRA) in April 2015. [17]

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References

  1. 1 2 3 4 James McKeigue. "How I built the Amazon of online beauty". MoneyWeek. 14 December 2012. Retrieved 20 December 2012.
  2. ↑ Llewellyn Jones, Robert. "Raj Aggarwal appointed first ever honorary consul for India in Wales" Western Mail. 27 September 2012. Retrieved 20 December 2012.
  3. 1 2 3 Loizou, Kiki. "I missed out on beauty sleep to look good online" The Sunday Times. 23 September 2012. Retrieved 19 December 2012.
  4. 1 2 3 4 "Interview: Rakesh Aggarwal of Escentual". Internet Retailing. 6 July 2015. Retrieved 14 October 2012.
  5. ↑ Staff Reporter. "Interview" Internet Retailing. 6 July 2012. Retrieved 19 December 2012.
  6. ↑ Greenland, Lorna-Louise (16 September 2011). "Online Retail Awards Results". Online Retail Awards. Stratford Upon Avon.
  7. 1 2 "The Big Interview: Rakesh Aggarwal". Retail Gazette. 16 June 2015. Retrieved 26 July 2015.
  8. ↑ "Cardiff: It's a city of 350,000 people but what are the key driving forces behind the economy of the Welsh capital?". Wales Online. 21 June 2015. Retrieved 8 September 2015.
  9. ↑ "Cardiff beauty retailer Escentual.com creates 100 new jobs". BBC. 17 June 2015. Retrieved 13 July 2015.
  10. ↑ "100 new jobs to be created over next three years as online beauty firm Escentual moves to new larger site in Cardiff". Wales Online. 16 June 2015. Retrieved 24 February 2016.
  11. ↑ Llewellyn Jones, Robert. Western Mail. 29 December 2010. Not available online.
  12. ↑ Thomas, Miri. Direct Commerce Magazine. 11 November 2012. Retrieved 19 December 2012. Available behind paywall.
  13. ↑ "Could Your Old Make-Up Be Bad For Your Health?". Marie Claire. 26 August 2015. Retrieved 25 November 2015.
  14. ↑ "Is Your Make-Up Safe? Deadly Bacteria, Including Meningitis, Found in Cosmetics". Daily Express. 25 August 2015. Retrieved 14 March 2016.
  15. ↑ Meeting agenda 28 April 2014 cardiffstudents.com [ dead link ]
  16. ↑ Memorandum and articles of the Association cardiffstudents.com [ dead link ]
  17. ↑ "About Copra – Copra". copra.org. Retrieved 24 September 2017.
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