Women have made significant contributions in every profession and have even taken on leadership positions. Zonu Reddy, a successful businesswoman competing against popular figures like Tata and Ambani in the bakery sector, is influencing the dynamics in the male-dominated business.
One of the most well-known bakery chains in the United States, Magnolia Bakery, was purchased by Zonu Reddy and moved to India. Pret A Manger and Starbucks, owned by Mukesh Ambani and Ratan Tata, respectively, dominate the Indian bakery setting.
According to numerous market researchers, Magnolia Bakery is becoming increasingly popular in India, and it is potentially overtaking Starbucks and Pret A Manger.
Who is Zonu Reddy?
Following graduation from The International School Bangalore, Zonu Reddy enrolled at the University of California, Berkeley to work toward a Bachelor of Science in Cell Molecular Biology. She later began to develop long-term marketing strategies after learning about social media and digital advertising.
In her spare time, she devotes herself to CREDAI, a group for young people that promotes real estate development, where she serves in leadership positions. She has also worked with angel networks, which support and provide funding for promising founders and their start-up companies.
Zonu Reddy and Nischay Jayeshankar, who had recently gotten married, made the decision to team up and launch their own business, Spago Foods, which went on to sign a multi-crore dollar deal with the iconic New York City bakery.
Reddy and Jayeshankar, who founded Spago Foods, bought the Magnolia franchise for India and launched the bakery in Bengaluru in 2019. It opened in numerous cities, including Gurugram and the Delhi/NCR region.
Currently owned by a US-based entrepreneur named Steve Abrams, Magnolia Bakery has an annual revenue of over USD 23 million, or more than Rs 191 crore in Indian rupees. There are currently 4 Magnolia Bakery locations in India, and the company plans to eventually open a dozen more.
