Cricket Meets Luxury: Steve Waugh Shares Entrepreneurial Journey in India | ET Now Hangouts
From Cricket Field to Luxury Business! Former Australia captain Steve Waugh joins ET Now Hangouts with Tim Thomas, co-founder of Australia Essence, to discuss their venture into the Indian market.
Discover how Steve Waugh is building a connection with Indian consumers beyond cricket:
✅ Premium Australian products in wellness, food, beverages & lifestyle
✅ Marketing strategies for India’s aspirational luxury consumers
✅ Insights on omni-channel distribution & authentic storytelling
✅ How cricket principles influence Steve’s entrepreneurial journey
Watch the full interview for an inspiring story of passion, perseverance, and premium global products meeting Indian tastes.
#stevewaugh #australiaessence #luxuryproductsindia #indianmarket #etnowhangouts #luxuryproducts #etnow #businessnews
From Cricket Field to Luxury Business! Former Australia captain Steve Waugh joins ET Now Hangouts with Tim Thomas, co-founder of Australia Essence, to discuss their venture into the Indian market.
Discover how Steve Waugh is building a connection with Indian consumers beyond cricket:
✅ Premium Australian products in wellness, food, beverages & lifestyle
✅ Marketing strategies for India’s aspirational luxury consumers
✅ Insights on omni-channel distribution & authentic storytelling
✅ How cricket principles influence Steve’s entrepreneurial journey
Watch the full interview for an inspiring story of passion, perseverance, and premium global products meeting Indian tastes.
#stevewaugh #australiaessence #luxuryproductsindia #indianmarket #etnowhangouts #luxuryproducts #etnow #businessnews
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NewsTranscript
00:00Hello and welcome to this very special episode of ET Now Hangouts with me, Ankita Saxena.
00:09Well, I have a very special guest on the show today.
00:13You might have seen him as a fierce opponent on the cricket field against the Indian team.
00:18But today he's forging a rather intimate relationship with the Indian consumers through his entrepreneurial offerings.
00:24Now, I'm talking about the former Australia captain and cricket legend Steve Walk, who's teamed up with Tim Thomas to co-found Australia Essence, a premium luxury offering to the Indian market.
00:37And they will have a whole host of products ranging from wellness, beauty, food and beverages.
00:43To give more color on this, I'm joined by both Steve and Tim today.
00:47Hi, Steve. Hi, Tim. Thank you so much for taking the time out and joining us on ET Now Hangouts.
00:52Thank you. Thank you.
00:53Well, right off the bat, Steve, you have had a very intimate relationship with India, a very longstanding relationship, first on the field as a fierce opponent.
01:03And then, of course, you're working with the center of India-Australia bilateral relationships as well.
01:08Now you're forging a rather intimate relationship because you have to work with the consumers now through your entrepreneurial offering.
01:14And while you have faced the Indian cricket team on the field, how prepared are you to face the challenging Indian consumer of it?
01:24Yeah, good question. Hopefully, OK, because I've been coming to India now for 40 years.
01:29First tour was back in 1986, so obviously a long cricketing career.
01:33Then I got involved in philanthropy, had a long association with India, just finished a photographic book all through India.
01:39And now the business venture, Australia Essence, so it's really showcasing Australian products to the Indian market and hopefully making the entry into India a lot easier than it otherwise would be because it's a little bit complicated to bring your product to India and make it work.
01:56So, Teela, with our team in Australia Essence, we hope to make that a smooth transition for people wanting to showcase their products into India.
02:04Australia's got some amazing produce and that is our aim.
02:08Yes, absolutely. And Tim, let me get you in also.
02:10Now, with AEG, you are getting luxury products into the Indian premium market.
02:15What do you think is going to work as far as the Indian luxury market is concerned?
02:20What is the market for it and what is going to be the headroom for growth for you?
02:24So, I do think that there is a shift in the way the luxury market is consuming in India.
02:31I think there's a move in luxury consumption from indulgence to intentionality or conscious consumption.
02:38And I think Australia has amazing stories behind its products, its produce, obviously marked by provenance and ethical supply chains,
02:47but also some salt-of-the-earth business owners who have really been building fantastic products and businesses for multiple generations.
02:56So, we think the headroom, to answer your question, is to be able to curate the best products for where the Indian aspirational consumer is today,
03:04but also to be able to tell that story in a way that culturally resonates.
03:07Right. Also, what entails in your product portfolio?
03:12You have a couple of brand portfolios, whether it is in wellness or food or beverages.
03:17Take us through that. Give us some color on that as well.
03:20Yeah, look, we feel very passionately about where Australia brings a unique proposition to India.
03:25If I think about fresh produce, there is so much amazing produce that comes out of the smaller states of Australia, like Tasmania, in cherries, in scallops, in cheeses.
03:38So, there is opportunities to bring the best of Australian fresh produce.
03:43We feel very strongly about the food technology aspects of what Australia brings.
03:48So, in the way we mix flavors from our provenance into olive oil, into nutritional snacks, and then beverages.
03:58We've got some really interesting, highly, I guess, intentional ways of consuming beverages, such as alkaline water and a brand called Alka Power.
04:09And then Steve will talk about high-performance apparel.
04:13We think the Indian consumer, particularly at the aspirational end, is through gym, gymming and elite sports, is really taking off in terms of demand.
04:25And I think, Steve, you would say there's a lot of opportunity for high-performance.
04:28And the water is an interesting story.
04:29The alkaline water, that comes from Barrow, which is Don Bradman's hometown.
04:33So, it's linked there to cricket.
04:35And another product we're bringing right now is oat milk.
04:37And Steve Smith and Alex Carey are partners in that business.
04:40So, there's a lot of linkage to cricket there as well.
04:43Yeah, some of my power brands.
04:45I mean, when I was playing, I used compression garments.
04:47I was one of the first players to do that.
04:49So, I know the benefits of that.
04:50So, there's some great Australian companies that have got that technology, which they can export to India.
04:55So, yeah, we're looking at innovative Australian products, very authentic, that can have an impact in the Indian market.
05:01And that's food and water and sporting products.
05:04Yeah, there's a whole range of things we can introduce.
05:07Right.
05:07In fact, Steve, you have had your year to the ground because you have been doing a lot of charity work in India.
05:12So, you, in a way, understand the Indian.
05:15You have a pulse on India, if you will.
05:17Yeah.
05:18What do you think will work for the Indian consumers through your offering?
05:22I think products that are genuine and authentic, that you don't have to sell too much.
05:26I mean, they speak for themselves.
05:28They're the products I'm interested in.
05:30Every product we introduce today in the Steve Warhamper is something I've used and believed in.
05:34And I know the owners, I know their stories, they're real people.
05:38And I think Indians will see that connection straight away.
05:41They've got great backstories.
05:43They're in it to make a difference.
05:45If they do that, they're not making money, but it's about producing a good product.
05:49And that's what I'm interested in because when I played cricket for Australia, it was all about having complimentary players in the team with different personalities, different character traits.
05:57And at the end of the day, they're all playing for the team.
05:59And that's what we want to bring products to India that are really worthwhile and are quality.
06:05Right.
06:06Also, Tim, talk to us about how do you plan to market these products?
06:10Because you will have to spread awareness about these products.
06:12What is going to be your marketing mix?
06:14I think that will be our core capability that we bring to the market.
06:18As Steve says, we have great stories to tell.
06:20But then we need to tell them in a way that resonates with the local, if you like, cultural ecosystem.
06:26So we'll work with top retailers to work with them to deliver new consumer experiences that retailers have never had the chance to before.
06:34We will work with online channels and we'll work with the B2B market as well.
06:39But I think there will be a lot of education that we will invest up front in Australia's story in terms of great product, great provenance, ethical supply chains.
06:49Because what you read on the label is what you get inside the tin.
06:52Right.
06:52Also, talk to us about the distribution and the supply.
06:55Do you plan to be just offline, an offline offering or are you planning a more omni-channel approach?
07:00How is that going to work?
07:01Yeah, we've really studied the way the premium consumer behaves in India and it's very much, you know, I've heard the word fidgetal.
07:09I used to use the word omni-channel, but now I believe fidgetal is one, which is where, you know, you get educated offline.
07:15You might do a lot of the further education online, but you might want to experience the product in the store.
07:21So we will definitely be playing across online and offline.
07:25So what, according to you, are going to be the key levers for growth for an international luxury brand to enter Indian market?
07:32So we've studied what the Europeans do, what the Americans do.
07:39I think the strategy for Australia, as Steve says, has to be quite different.
07:43It's around authenticity.
07:44So if we can find a way to pick the right brands, the categories are going to grow.
07:49I mean, the food category, the beverage category, the lifestyle category, the wellness category, they're going to grow.
07:55So it's only a question of how do you compete and how do you compete is really around authentic storytelling.
08:00We've got great products, but then how we tell the story is important.
08:05But we don't think there are constraints on the growth.
08:07We're very optimistic.
08:09I think we've heard the statistics that by 2027, there will be 100 million premium consumers in India.
08:15You know, that the economy is going to double by 2030, of which 60 percent will come from the consumer economy.
08:22So we're very confident in the growth trajectory of the premium consumer market.
08:28And we think our marketing strategy is the right one to build, to bring the best products under the Australia Essence House of Brands.
08:34So you're planning to launch what are going to be key markets?
08:37What are the areas of focus as of now?
08:40As of now, we'll go category by category.
08:42But look, for example, if we think about the premium wine category, we think there's great opportunity in markets like Bangalore, markets like Mumbai.
08:52And, you know, I think we'll go category by category.
08:56So India is many Indias.
08:59In my time when I was with AXA, building AXA's business across 200 cities across India, that's one thing you learn, that every city, every product requires a different strategy.
09:10But we'll be very flexible in how we grow.
09:12Right.
09:13Steve, in your second innings as an entrepreneur, what are your aspirations?
09:19Same as, I guess, in cricket and philanthropy is to do the best job I can possibly do, to give it everything and to make sure it becomes a success.
09:28And also realise that not every day is going to be successful.
09:30There's going to be some downs.
09:32That's how you come back the next day really counts.
09:34How can you improve your business?
09:35How can you make it better?
09:37And what are you going to do to make it happen?
09:40So it all becomes attitude.
09:42It's about learning as well.
09:44I wasn't the finished product when I first played for Australia.
09:46In fact, I didn't score a century for three and a half years.
09:49I didn't win a test match for two years.
09:51Yeah.
09:51Then we went on to win 16 tests in Iran and become the number one batsman in the world.
09:54So for me, it's about learning, continually trying to get better, be aspirational and do the best job you can be.
10:00So I think the lessons I learned in sport are the same in business.
10:03It's about perseverance and bouncing back the next day and getting better.
10:07So what's the analogy between cricket and entrepreneurship?
10:11I mean, you've just started out.
10:13Sure.
10:13What are the analogies that you can draw?
10:15I think it's back yourself and have a go.
10:16Don't doubt yourself.
10:17You can achieve anything if you put the work in it and if you have the passion for it and commitment.
10:22But you've got to have the fire in the belly.
10:26You can't have people force you to do it.
10:27You've got to want to do it yourself.
10:29Right.
10:29And, you know, as a cricketer, I'm sure you have a certain playbook or the rules that you play by.
10:35What would be in your entrepreneurial or startup playbook?
10:40Think big, you know.
10:41Don't listen to someone if they say you can't do it.
10:44I think surround yourself with people who have got positive attitudes, who believe in you and who back you.
10:53Finally, Tim, what's your vision for Australia, I sense, for the next five years?
10:57Because India is also in its growth journey.
10:59In fact, the discretionary spends are picking up.
11:02The luxury market is booming and burgeoning in India.
11:05What's your vision?
11:06And can you put a certain number to it?
11:08So, firstly, we want to bring the best of Australian products to India.
11:13So, we want to continue to be very selective in which brands join the platform.
11:19Our vision in five years is that those brands deliver high performance.
11:23So, high performance in an Indian context is, you know, $50, $75 million of revenue for each of the high-performing brands.
11:31But, ultimately, we want to be the natural choice for any Australian premium product.
11:38Who do they come to?
11:39They come to Australia Resents to enter the Indian market.
11:42I have a couple of rapid-fire questions for you.
11:45Let's see if you can hook or duck our googlys.
11:47Okay.
11:48Cricket or entrepreneurship?
11:52Entrepreneurship.
11:52Which baller was your biggest nightmare?
11:55Well, there's a few of those.
11:57Kirtley Ambrose.
11:58Which batsman were you most afraid of while bowling?
12:04Let's say Viv Richards.
12:06Viv Richards.
12:07Okay.
12:08Who was the most annoying team member?
12:10The troublemaker you had trouble keeping in check as a captain?
12:14Well, probably the Master 19 team would be a tie between Merv Hughes and Glenn McGrath.
12:19Glenn McGrath.
12:19And Merv Hughes, yeah.
12:20Most memorable moment on the field and off it?
12:24On the field?
12:25It's hard to go past winning the 87 World Cup here.
12:28In India, at Eden Gardens in front of 100,000 people.
12:31That was amazing.
12:33The worst moment?
12:34There probably wasn't too many.
12:37Look, I think every time you make a duck in a test match, you feel a bit embarrassed.
12:43And I think I scored 32 test entries and I scored about 28 ducks.
12:46So, many times, probably being dropped is probably a low point in anyone's career, but it can also be a turning point.
12:54Okay.
12:54So, who's your favourite all-time pricator and the current one as well?
12:58Wow.
12:58Look, I'll keep it to an Indian context because I shouldn't be a popular answer.
13:04I think I never played against this guy, but I really, by the way, play Emma Stoney.
13:08Okay.
13:08Because he always seemed to have that magical touch of winning and he had that aura about him, the way he carried himself.
13:14Current favourite.
13:15I'll keep it Indian as well.
13:16I like the way Rishad Pant plays.
13:18He's got no theory, just any situation.
13:21He believes he can overcome it.
13:23Who was a better fielder, you or Mark?
13:26Probably most people say Mark, so I tend to agree with that.
13:28We were both naturally talented, but he was one of the best slip fielders that ever played the game.
13:33Okay.
13:33Most painful defeat as a captain?
13:36I know what you want me to say.
13:38Eden Garden, maybe?
13:39No, of course not.
13:40No, that was, look, a great test match.
13:42Yeah, we would have liked to have won, but having said that, when you play against great opposition,
13:46and they're just too good for you, sometimes you're going to say, you guys are too good.
13:49So, I know you want me to say that, but I'm not going to say that.
13:53I never saw defeat as being painful.
13:54I just saw it as part of the game.
13:56You clearly ducked there.
13:58Yes.
13:58But what's your favourite Indian cuisine?
14:01I like all foods, I must admit.
14:03I love the vegetarian food in India.
14:06Okra is my favourite vegetable.
14:07Or bindi.
14:08So, if a Bollywood biopic was being made on your life, which Indian actor would play Steve Walk?
14:13I have no idea.
14:14And no one would want to do that anyway.
14:15Anyway, you could probably answer that.
14:17I've heard a lot.
14:17You maybe can answer that better than me, I'm not sure.
14:19One Bollywood actress you'd like to take out on a date?
14:22Oh, look, I can't because I'm married, you know.
14:24I wouldn't be able to do that.
14:25Look, Priti Zintra, I think she's involved in cricket, and I think she's very popular.
14:30Yeah.
14:30But, look, I admire her work, yeah.
14:34Yeah, I think that's what Brett Lee also said.
14:36Of course, yeah.
14:36Yes.
14:38On that note, thank you, Tim.
14:39Thank you, Steve.
14:40It was a pleasure talking to both of you.
14:42Thank you for joining us.
14:43Cheers.
14:43Cheers.
14:45Cheers.
14:46Cheers.
14:47Cheers.
14:48Cheers.
14:49Cheers.
14:50Cheers.
14:51Cheers.
14:52Cheers.
14:53Cheers.
14:54Cheers.
14:55Cheers.
14:56Cheers.
14:57Cheers.
14:58Cheers.
14:59Cheers.
15:00Cheers.
15:01Cheers.
15:02Cheers.
15:03Cheers.
15:04Cheers.
15:05Cheers.
15:06Cheers.
15:07Cheers.
15:08Cheers.
15:09Cheers.
15:10Cheers.
15:11Cheers.
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