When Nazneen Katrak could not find comfortable socks for all her outdoor activities which included trekking and mountain climbing in the Himalayas she decided to manufacture them. With only Rs 500 as seed capital, she borrowed Rs 5,000 from her maternal aunt and started Mustang Socks in 1987. Socks were also not customized to suit the convenience of people of different ages and she wanted to bring comfort to the older generation by way of material and style. At that time all Katrak had was her belief in herself and her passion to do business and become an entrepreneur. Even after a sudden attack of Lyme disease (transmitted to humans through the bite of infected blacklegged ticks) confined her to a wheelchair she persevered.
Today Mustang Enterprises (ME) produces over a million socks a month and has 50 plus dealers from all over the world, says Katrak. Their annual revenue is more than Rs 70 crores with a compound annual growth rate (CAGR) of 18 to 20%, she notes. They employ locals and have 45% women employees, including those differently abled.
Top: Mustang Enterprises factory; 2nd row, from l: award winning socks;
(standing) Capt Percy Master, Behroze Daruwalla, Aspi Antia, Lubeina
Shahpurwala with Nazneen Katrak Photos: Jasmine D. Driver
Katrak was recognized as Woman Entrepreneur of the Year with the Golden Maharashtra MSME (Micro, Small and Medium Enterprises) Award for Women 2015 (see "Recognition for Mustang,” Events and Personalities, Parsiana, March 21, 2015). Expressing her gratitude, Katrak told those present at the awards function, "I am so glad that with government backing platforms like this, women and young entrepreneurs are being encouraged to follow their passion — even if their passion is making good quality socks. I am humbled and thank you all for the love that Mustang Socks has got!”
The World Zarathushti Chamber of Commerce (WZCC) Women Entrepreneurs (WE) wing who planned a day trip to the ME plant at Palghar were impressed by the expertise of the staff, the cleanliness, smooth operations and the positive atmosphere exuded at the factory, which opted to train locals and not import professionals from elsewhere. When asked about the challenges faced by ME, partner Lubeina Shahpurwala, who joined the firm in 2004, smilingly replied that the team’s challenge is to keep offline and online product synergies intact. Raising awareness about socks as an item of apparel rather than a commodity has been a tough task. She strives to enrich and add value to their trade, profession and industry. Shahpurwala looks after sales, marketing and business development.
Always an adventurer, Katrak was the youngest member of the first Indian women’s expedition to 9,930 ft Hanuman peak in the Himalayas. When she returned to her home base, she needed 18 buckets of water to wash away thick layers of dirt, not having bathed for 20 days. "All you needed in those days was a good pair of shoes with a firm grip,” explained the entrepreneur (see "Fire and ice,” Parsiana, January 7, 1975). "People often came and told my parents they should not allow me to go off like this, but it does not bother them at all,” she states. She brought that same daring approach to her entrepreneurial venture.
A technical enthusiast, she is always scouting around for the latest machines and technology, while Shahpurwala focuses on new design concepts and customer needs. Nazneen’s nephew Juan Katrak who is also a partner oversees production and purchase of raw material.
Top: Mustang Enterprises plant; above: Lubeina Shahpurwala (l) and Nazneen Katrak; inset: Juan Katrak
WZCC global president Capt Percy Master, whilst presenting a vote of thanks and mementoes to both entrepreneurs echoed the group’s sentiments that women entrepreneurs always managed to overcome challenges and come out winners!
With inputs from Behroze Daruwalla