Heritage and innovation: Leveraging family legacy in Ipse Ipsa Ipsum

• Main Authors: GOH, Kenneth, ANG, Jovina
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2024
• Subjects: entrepreneurial business strategy; Sustainable business practices; furniture; Strategy; business model canvas; Entrepreneurial and Small Business Operations; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/cases_coll_all/498; https://cmp-shop.smu.edu.sg/products/heritage-and-innovation-leveraging-family-legacy-in-ipse-ipsa-ipsum?variant=42026817323050
• Institution: Singapore Management University

In March 2024, eight years had passed since Saurabh (Sam) Mangla had founded ipse ipsa ipsum (ipse). ipse was an affordable luxury lifestyle furniture and accessories brand that juxtaposed the old and the new, East and West, and culture and modernism that generated several millions in sales on an annual basis. Mangla was a third-generation entrepreneur based in Singapore. A key factor that had contributed to Mangla’s success was his ready access to a loyal team of artisans who were either employees or subcontractors of Sanik, the India-based family business that was founded by his grandfather. Another innovative step introduced by Mangla was the use of technology such as augmented reality, virtual reality and Artificial Intelligence to enhance customer experience. Crucial for ipse’s rapid expansion in the global marketplace was the development of a robust online ecommerce channel. Mangla needed a capital injection of S$5 million (US$3.7 million) to fund the online expansion growth. How should he position the business to attract the required capital investment for growth? And should he reinvent ipse’s current business model? Students will be able to: 1) understand how a family business can be a foundation for entrepreneurship, 2) gain a deeper understanding of creating a brand that combines luxury and sustainability, and 3) develop a commercially viable business for the long term.