Pare Innovations: Redefining interior design with innovation and sustainability

New Delhi: Pare Innovations, founded in 2020, is a leading manufacturer of innovative panels for walls and ceilings in India, reshaping real estate and interior design.

Parth Parmar, Director of Pare Innovations, has led the company from a small team to over 200 employees in three years, navigating challenges with resilience and fostering a culture of innovation.

Here is an excerpt of an interview with Mr Parmar.

Q: How did you come up with the name "Pare Innovations" for your organization?

Parth Parmar: The name "Pare Innovations" was inspired by the Sanskrit word "Parey," which means "beyond." We wanted our organization to embody the concept of going beyond conventional boundaries and pushing the limits of innovation. The name encapsulates our vision of pioneering new ideas and solutions in the interior design industry.

Q: Can you tell us about the inception of Pare Innovations and the vision behind it?

Parth Parmar: The idea for Pare Innovations stemmed from our collective experience of over 30 years in the building materials industry. While participating in international exhibitions and fairs, we observed a gap in the Indian market for innovative wall and ceiling solutions. This realization, coupled with our exposure to top designers and trends, inspired us to launch Pare Innovations with a vision to bring cutting-edge designs to Indian consumers.

Q: What sets Pare walls and ceilings panels apart from competitors in the market?

Parth Parmar: Pare Innovations stands out due to its unique manufacturing technology, which is currently unparalleled in our sub-segment. Our products are not only aesthetically pleasing but also cater to the specific preferences of Indian consumers. For instance, our wooden collection has been a hit in the Indian market, showcasing our understanding of local tastes. Additionally, we prioritize cost-effectiveness without compromising on quality, making our products accessible to a wide range of customers. Furthermore, we have introduced innovative solutions such as marble-textured panels, which provide the luxurious look of marble at a fraction of the cost, addressing the demand for high-end finishes in a cost-effective manner.

Q: Sustainability is a key focus for Pare Innovations. How do you ensure eco-friendly practices in your production?

Parth Parmar: Sustainability is at the core of our operations. We utilize recycled materials in our manufacturing process, minimizing waste and environmental impact. While I don't have specific figures at hand, recycling is an ongoing process for us, and we continuously strive to increase our sustainability efforts.

Q: How does Pare Innovations stay ahead of competitors in the market?

Parth Parmar: We believe in keeping our ears to the ground, which means staying connected to every aspect of the market, from top-level trends to grassroots insights. Regular market visits and interactions with craftsmen help us stay informed about evolving consumer preferences and industry innovations.

Q: How has digital marketing and online presence contributed to the growth of Pare Innovations?

Parth Parmar: In today's digital age, a robust online presence is essential for business success. We have dedicated teams for social media management and online marketing, ensuring that our brand remains visible and relevant to our target audience. Digital marketing has been instrumental in expanding our reach and driving brand growth. As Peyush Bansal, co-founder and CEO of Lenskart, aptly puts it, "right now, the entire business is phygital," meaning it should have both a physical presence and online presence. If you're lacking even in one, you're going to lose those departments. This quote resonates with our approach at Pare Innovations, where we understand the importance of integrating physical and digital channels to maximize our impact and reach our audience effectively.

Q: How does Pare Innovations foster innovation within its teams, and what strategies do you employ to keep the entire organization motivated?

Parth Parmar: Innovation is ingrained in our company culture, and we encourage creativity at all levels of the organization. Regular brainstorming sessions, feedback mechanisms, and cross-functional collaborations help generate fresh ideas and solutions. As for motivation, we believe in leading by example and maintaining open communication channels to keep our teams engaged and inspired.

Q: Can you share any exciting projects or collaborations that Pare Innovations has undertaken or is planning for the future?

Parth Parmar: We recently completed a significant project that we are proud of, and we have several exciting collaborations in the pipeline. One noteworthy collaboration is with Danube Group, in the UAE, a renowned brand, which underscores our commitment to expanding our presence globally.

Q: What are the long-term goals for Pare Innovations, and what can we expect from the company in the future?

Parth Parmar: Our long-term goals include expanding our market presence both domestically and internationally. We aim to become a leading player in the industry, with a presence in numerous countries and cities worldwide. Additionally, we have some groundbreaking product launches lined up, including one scheduled for next month, which promises to redefine the industry standards.

Q: What advice would you give to aspiring entrepreneurs, particularly those interested in the interior design industry?

Parth Parmar: My advice to aspiring entrepreneurs is simple: don't overthink it, just take action. The interior design industry offers ample opportunities for innovation and growth, and those who are willing to seize them with determination and passion are bound to succeed. Trust your instincts, stay adaptable, and never lose sight of your vision.