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Zuzer Lucknowala, Founder & CEO, Party Cruisers India Limited

With our successful public debut on emerge platform of NSE our main intention is to quicken the growth trajectory at Party Cruisers India Limited and do this before we list on the mainboard.

April 15, 2021 8:00 IST | India Infoline News Service
Founded in 1994, Party Cruisers India Limited (PCL) specialises in wedding and events management business wherein the company offers a variety of wedding and event facilities. The Wedding Management Services range from pre-wedding, during the wedding, and post-wedding events like in-house designing, designation wedding event décor, floral trade, etc.

In an interaction with Shweta Papriwal, Editor, indiainfoline.com, Zuzer Lucknowala, Founder and CEO, Party Cruisers India Limited, said, “Franchise, Business Associates and Joint Venture Model will lead the growth of the company in coming two years and also mentioned how Party Cruisers India has shown positive growth trend in the current times”.
 
Tell us about the extravagant and glamorous event industry and what makes Party Cruisers India a leading player?

We Indians love to celebrate and especially Indian weddings that is known for being larger than life affairs, but unfortunately the weddings were scaled back last year due to the COVID-19. The last year’s wedding season people opted for low key celebrations in smaller venues with a smaller number of guests and rituals, however the wedding industry in India has started getting back at its peak.  

Despite the fact that events / experiential industry has suffered due to the Pandemic and seen significant downfall, we at Party Cruisers India Limited have seen positive growth and have managed to make profits in recent past. This is through our 26 years of significant experience and highly evolved event management, has been able to accomplish extravagant and glamorous wedding with effortlessness.

Our sole objective, for any event, is to offer clients a total hassle-free wedding management experience, provide their immediate family members and their guests with a personalized and professional treatment, have a range of services from creating and managing parameters that ensures very warm hospitality to wedding concepts and themes that make the dreams and family aspirations a reality.
 
After successful IPO, what is the expansion plan of Party Cruisers India?

With our successful public debut on emerge platform of NSE our main intention is to quicken the growth trajectory at Party Cruisers India Limited and do this before we list on the mainboard. Our focus is to change overall definition of Indian Wedding and event management industry.

We are looking to turnaround what the business has faced in past year due to the pandemic and adopt innovation for the events in the new normal. We are also focusing on various avenues to expand our business especially via the franchise, merger, business associates and the joint venture model as this helps us to create an impact in the wedding and event management industry, understand our real market brand value, to produce valuable insights in order to maximize our business across India, to be a niche company offering one-stop solutions for our clients and offering unique wedding and event experience to our clients.
 
How has the franchise / profitable partnership business model evolved of Party Cruisers India?

Our company founded in 1994, has managed to build in-house brands for variety of wedding and event facilities. However, we have successfully established our franchise model as we believe in a Profitable Partnership Model. Our vision is to retain and respect the identity of each individual who chooses to partner with us, we like to encourage and explore ideas together and pay keen attention to every detail where strict adherence to the quality of the services we give to our clients excels every time. Whenever companies / individuals are choosing a partner with us, they would not only get to use our brand name’s but also gain experience and expand themselves as Brands come with 16 plus years of mega experience in giving Signature Weddings to the clients.

In the coming future we will consider adopting joint venture and franchise structure – this will inject capital in return for an equity stake. Our strategic joint venture and franchise will be used as step to entry in the market for the small & medium players of the industry. Also, the participation in our Joint venture, Business associates and Franchise model will generate the strong income stream with strategic entry and exit.
 
How is the new normal impacting the evolution of events / experiential sector?

The new normal has impacted almost all aspects of life and with the time business across the globe has adopted and found novel and innovative ways to bring people together to share experiences. Due to new normal and the government norms, traditional events at one side are now experiencing steady rise while on the other hand virtual events are fully fledged for all sorts of events. This new normal has evolved and fetched opportunities for planners as the events are not limited by the size of the venue but can expand their audience to by including virtual attendees, as well as those who prefer to attend in person.
 
With the downfall in the industry what is your take on the developments in the coming future?

Due to Covid 19 event industry and the sector associated with it has incurred heavy losses, even the entire supply chain including the Event Hospitality Industry, Event Food Court Operators, Restaurants, etc. have faced a beating with no clear roadmap. But with the new norms, new set of hybrid events and innovation adding to the experiential sector, companies have started seeing positive movement. And with the graph of events most likely moving upwards with new drifts, aspects like strong principles, cost- consciousness, delivering best quality and controlling the hygiene factor will aid the industry to bounce back further quicker.

What is the business outlook you see for experiential sector globally?

Interactions and social gatherings have been integral part of human life hence businesses across the globe have found various innovative ways to bring people together to share experiences, while adhering to rules and guidelines. In my opinion, while the businesses across the globe have started getting back at its peak, the companies with out of the box experience are more likely to thrive. Also, companies will have to unlock the value of technology and innovation to transform their businesses. 

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