Vineet Trakroo’s journey as a prominent business leader began with over two decades of experience in leading B2C organizations, including Usha International, Cavinkare, Pidilite, and Beiersdorf. With a strong educational foundation in Electrical Engineering and an MBA in Marketing from the prestigious Jamnalal Bajaj Institute of Management Studies, Mumbai, Vineet was well-prepared for the corporate world. At the young age of 27, Vineet was already leading Sales and Marketing operations for Postman edible oils, one of India’s oldest brands. By 1997, he had successfully signed a joint venture with Unilever, bringing some of their imported brands into India. His career continued to soar as he became the first Head of Marketing for Fevicol in 1999, where he established their marketing department and developed a new brand identity. Vineet also launched the Fevicol Champions Club, a CRM program for carpenters and contractors, showcasing his innovative approach to brand management. We at CIO Global, are proud to introduce Vineet Trakroo as one of the Promising CEOs to Watch, 2024.
Vineet’s career further flourished as he headed Sales and Marketing for Beiersdorf India, managing renowned brands like Nivea and Hansaplast. His expertise was sought after by Cavinkare, where he played a pivotal role in bringing the Adidas range of personal care products to India through a joint venture with Coty in 2008. In 2011, he joined Usha International as the Chief Marketing Officer, leading a significant brand and business transformation that resulted in a 50% growth in their business. After 23 years of corporate success, Vineet decided to take his experience to the next level by founding ESA- Evolution Strategy Advisors, a boutique consulting firm. This firm focuses on exponential growth for the manufacturing-based B2C industry, offering end-to-end solutions that encompass business transformation, operational strategy, and execution across sales, distribution, marketing, brand, and product management.
Vineet was inspired to start ESA after recognizing a growing gap in competencies among companies. This gap was becoming more pronounced with the advent of modern management techniques, data-driven decisions, digitalization of business processes, and increased global competition. He observed that companies in India were struggling to keep up with global competitors, especially with the increasing commoditization of products. Vineet saw an opportunity to help these companies focus on customer experience and drive system efficiencies to lower costs, even in sales and marketing functions.
“Modern CEOs must be prepared to navigate geopolitical changes, environmental shifts, and the evolving attitudes of Generation Z towards work.”
Looking ahead, Vineet has ambitious goals for Evolution Strategy Advisors. The company aims to continue its growth by partnering with more B2C organizations, focusing on business health analysis, transformation, and leveraging consulting, research, and analytics techniques. A significant trend that ESA is embracing is the digitization of business, not just in marketing but also in sales, to provide transformation solutions backed by data.
Vineet defines success for ESA by the success of their clients. The firm sees itself as a growth enabler, with their success being measured by their clients’ growth and evolution. Impressively, 80% of ESA’s customers have returned for additional projects, reflecting the firm’s ability to deliver tangible results. Another measure of success for Vineet is the complexity of the business challenges ESA solves, such as doubling growth for market leaders and revitalizing companies with stagnant historical growth. The most rewarding success criterion for Vineet is when clients see growth prospects within just 2-3 months of starting a project.
However, Vineet acknowledges that his journey as a CEO hasn’t been without challenges. One of the biggest hurdles has been establishing trust with prospective clients. Much like a patient visiting a doctor, clients need to recognize that there’s a problem, and they must be open and truthful about their challenges. Vineet has found that organizations willing to trust ESA and embrace new solutions have benefited significantly, as they were open to looking at problems from a fresh perspective and implementing innovative strategies with the firm’s support.
Vineet Trakroo’s company, Evolution Strategy Advisors, stands out in the competitive landscape of business transformation and growth within the B2C manufacturing sector. Several factors set them apart from their competitors:
- Proven Track Record: Evolution has an excellent history of delivering on large projects for significant clients, consistently achieving impressive results.
- Impressive Growth Outcomes: The company has driven substantial topline growth for its clients, ranging from 30% to an astounding 300%.
- Experienced Team: The team is composed of former CXOs who bring a wealth of experience in the clients’ industries, helping to mitigate risks and ensure successful outcomes.
- High Client Retention: A testament to their effectiveness, 80% of their clients return for additional projects, reflecting the trust and satisfaction they inspire.
- Innovative Tools and Methods: Evolution Strategy Advisors utilizes unique tools and methodologies, all backed by data, to deliver reliable and impactful results.
Under Vineet’s leadership, Evolution Strategy Advisors has reached significant milestones. As the Founder and CEO, Vineet has led the transformation of loss-making brands, doubled sales within just 12 months, and represented prestigious international brands such as Coty, Honeywell, and Westinghouse in licensing and joint ventures. Over the past decade, the firm has completed over 100 projects for more than 50 clients across various sectors, including FMCG, durables, building materials, pharmaceuticals, and B2B.
This differentiated approach, focusing on providing end-to-end solutions, has earned them the trust of some of India’s largest business houses, such as Titan, Tata Motors, Mahindra, and the Murugappa Group. Additionally, large multinational corporations like Pepsi, Abbott, Pfizer, Saint Gobain, Kokuyo Camlin, and Asahi have chosen Evolution Strategy Advisors for multiple projects. With over 80% of their clients returning for more work, the company’s success and impact are clearly reflected in these enduring partnerships.
“In our business, mitigating failure for clients is a core responsibility—addressing challenges head-on and finding solutions is what we do best.”
Innovation is at the core of Evolution Strategy Advisors’ approach. Vineet understands that no two clients are alike, and neither are the industries they operate in. To solve complex business issues, the company offers bespoke strategies and solutions tailored to each client’s vision. This requires continuous exploration of new approaches that align with clients’ resources and cultures without causing disruption. The company’s solutions are unique and innovative, with the first step in this process beginning with data analytics. By identifying key insights from available data, Evolution Strategy Advisors is able to craft strategies that are both practical and forward-thinking.
Technology plays a crucial role in the business strategy of Evolution Strategy Advisors. It forms the backbone of their recommendations and processes, all of which are data-driven. Vineet has ensured that the company remains at the forefront of technological advancements:
- Cloud Computing: For the past 10 years, Evolution has been using cloud platforms for universal and quick access to clients. This early adoption has provided them with a competitive edge.
- Data Analytics: The firm has been employing data analytics and visualization techniques long before tools like Power BI were available, showcasing their innovative approach to handling data.
- Project Management: Techniques such as OKR (Objective and Key Results), used by industry giants like Google and Intel, are incorporated into their project execution to ensure faster delivery.
- Sales Automation: The company has enabled clients to migrate to sales automation and has provided them with the knowledge to use data in their daily operations to identify valuable insights.
Evolution Strategy Advisors specializes in delivering long-term growth for their clients. Vineet and his team work closely with clients to create a strategy roadmap that outlines the big picture and desired results. This roadmap is then broken down into specific, progressive time periods, detailing the impact on the company’s P&L and the necessary investments. Once clients are aligned with the long-term vision, Evolution works on an operational plan with defined timelines. This plan balances short-term tactical needs with long-term goals. For instance, initiatives such as trade schemes or consumer demand generation activities are designed to meet immediate needs without disrupting the broader strategic objectives. By carefully managing these short-term initiatives, Evolution ensures that their impact is limited to the present, allowing the long-term initiatives to continue driving sustainable growth.
Vineet Trakroo offers valuable advice for those aspiring to become CEOs in today’s fast-paced business environment. He emphasizes that a successful CEO must be a team player and a mentor to their team. With skills driving business success, it is crucial for a CEO to unify the team around a common goal. Vineet believes that a CEO’s success is defined by their ability to keep the team together and focused on delivering results. Additionally, he advises that modern CEOs must be prepared to navigate geopolitical and environmental changes, as well as adapt to the evolving attitudes of Generation Z towards work. These factors are increasingly important in the dynamic business landscape.
In Vineet’s line of work, mitigating failure for clients is a core responsibility. Clients often seek out Evolution Strategy Advisors because they lack the time, resources, or expertise to tackle a particular project. When challenges arise during the implementation phase, Vineet and his team address them head-on. They maintain open communication with the project lead, informing them promptly if any aspect of the project is not progressing as planned. Vineet encourages client teams to openly discuss challenges and setbacks so that alternative solutions can be identified and implemented. With a team of former CXOs who have encountered a wide range of business issues throughout their careers, Evolution Strategy Advisors is well-equipped to handle challenges. They draw on their extensive experience to relate past solutions to current problems, whether these occur at the client acquisition stage or during project execution. Additionally, the firm conducts thorough data analysis and establishes governance systems that provide early warnings of potential setbacks, enabling proactive problem-solving.
“A successful CEO must be a team player and a mentor, unifying the team around a common goal to deliver results.”
To maintain a balanced life, Vineet Trakroo engages in several hobbies and interests outside of his professional responsibilities. He has a passion for music, movies, and traveling, which allow him to unwind and gain new perspectives. Walking is another activity he enjoys, offering him time to reflect and recharge. These interests help Vineet stay grounded and maintain a healthy work-life balance, which is essential for sustaining long-term success as a CEO.