D2C

Fireside’s Kannan Sitaram on the consumption slowdown, beauty’s future, and consumer tech opportunities

Pranav Balakrishnan

December 16, 2024 | 13 Min Read

VS Kannan Sitaram, a seasoned FMCG veteran and venture capitalist, shares his insights on India’s D2C landscape amid an urban consumption slowdown. In a candid conversation, he discusses the challenges facing brands, Honasa’s recent challenges, and emerging opportunities in consumer tech.

Key Takeaways

Even as an urban consumption slowdown is grabbing headlines, Fireside’s Sitaram says the firm’s portfolio companies are bucking this trend.
They’ve done this by targeting niche consumer segments with sharp positioning and premium products, unlike big FMCG players that prefer a homogenised approach
While the BPC space has grown more cluttered, Sitaram says the firm is still finding promising opportunities to build standout brands
Fireside now wants to do more seed-stage investments and continues to see opportunities to serve both the Gen Z and ageing consumer segments. Beyond this, it’s bullish on consumer health

Venture capitalist VS Kannan Sitaram stands as a pivotal yet understated partner at Fireside Ventures, the investment firm that has been instrumental in driving India's direct-to-consumer (D2C) revolution over the past decade.

While his colleague Kanwaljit Singh has been the public face of the firm—best known for backing now-household brands such as wearables giant BoAt and Mamaearth’s parent company Honasa—Sitaram brings a distinctive depth of experience from the fast-moving consumer goods (FMCG) sector.

With a robust background that includes serving as COO of Dabur and a recent tenure as CEO of Innovative Foods (maker of frozen food brand Sumeru), Sitaram offers a unique perspective that sets him apart in the venture capital landscape. This experience helps him connect with many founders in a way few of his peers can.

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