Rakesh Aggarwal | |
|---|---|
| Born | Rakesh Aggarwal 16 August 1975 Cardiff, Wales |
| Nationality | Welsh |
| Occupation | Internet retailing |
| Father | Raj K Aggarwal |
| Website | Escentual.com |
Rakesh Aggarwal (born 1975[ citation needed ]), is a Welsh businessman and founder of the internet cosmetics retailer Escentual.com. [1]
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.
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]
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]