Six co-founders from Mumbai established the Bombay Hemp Company in 2013, aiming to utilize cannabis and hemp plants for creating textiles and lifestyle goods. While many associate cannabis with its illegal status and recreational use, these co-founders seek to reshape that perception. They believe in the potential of cannabis to improve the socio-economic conditions of farmers. Avnish Pandya, Chirag Tekchandaney, Delzaad Deolaliwala, Jahan Peston Jamas, Sumit Shah, and Yash P Kotak joined forces to rebrand cannabis as a versatile resource. Their startup, BOHECO (Bombay Hemp Company), endeavors to produce various products such as apparel, beauty items, and building materials from this misunderstood plant.
The idea for BOHECO originated from the shared experiences of the co-founders during their time at H R College of Commerce and Economics in 2013.
Yash Kotak, a co-founder of the company, recalls their early initiative called ‘ProjectChirag’ within their college group, SIFE (now Enactus). The project aimed to introduce affordable solar electrification in rural areas across India. While working on this project, the founders noticed the widespread presence of the cannabis plant throughout the country, irrespective of state or district boundaries. They observed that cannabis naturally grows in certain regions of India.
In 2013, Jahan visited his relatives in Australia and encountered hemp being utilized in various industrial and medical products in rural areas. This experience intrigued him, and upon sharing it with the other founders, they collectively became interested in exploring the potential of cannabis as a business opportunity in India. This led them to delve into the regulatory landscape, research aspects, and commercial prospects related to cannabis.
Motivated by their desire to benefit agricultural and local industries, the six co-founders embarked on establishing the Bombay Hemp Company (BOHECO). Their guiding principles, “Educate, Cultivate, Elevate,” underscored their mission to advocate for the societal advantages of industrial hemp. From the outset, BOHECO has aimed to challenge misconceptions surrounding cannabis and support local farmers by offering cultivation assistance and promoting socio-economic upliftment.
Established in 2013, BOHECO’s operations in cannabis cultivation begin with thorough surveys and subsequent research and analysis.
According to Yash, the process involves organizing farmers for the collection and distribution of hemp seeds for food and fiber for textiles. They gather raw material from locally growing cannabis plants, which is then processed, manufactured, and sold. Additionally, BOHECO collaborates with local vendors and rural stakeholders to source hemp leaves for developing proprietary Ayurvedic medicine formulations.
In the medium term, the company aims to provide larger farming communities with cultivable and standardized hemp seed varieties, and initiate commercial-grade cultivation in multiple states. This expansion is intended to enhance the scale of raw material supply through vertical integration. Currently, BOHECO works with nearly 100 farmers.
In India, the hemp-based foods, textiles, and Ayurvedic wellness products industry is evolving, according to the founders. While certain consumer categories like superfoods and natural wellness products have established market opportunities, others such as hemp-based formulations are relatively unexplored and present potential for growth.
In India’s hemp and cannabis sector, there are over 30 companies involved in various aspects of the value chain. For instance, GreenJams Infrastructure is developing hemp-based building materials, FitSkinology specializes in skincare products using hemp seed oil, and Hemp Horizons focuses on hemp-based foods. Hemis operates as India’s initial offline hemp retail outlet, while HempCann Solutions produces cannabis-based Ayurvedic formulations along with other non-cannabis Ayurvedic products. Additional players include Its Hemp, Be.Hemp, and Awega Green Technologies.
Yash notes that due to the industry’s early stage, there’s limited quantitative data on the hemp/cannabis market size, but BOHECO estimates it to be between $500–750 million annually. In July 2018, Uttarakhand became the first state to allow large-scale commercial cultivation of industrial hemp, with the Indian Industrial Hemp Association (IIHA) receiving a license to cultivate cannabis on 1,000 hectares. BOHECO aims to market FSSAI-approved hemp seed-based food products from licensed crops in Uttarakhand and Uttar Pradesh.
BOHECO’s entry into the hemp market began with handloom fabric produced by a women’s self-help group in Uttarakhand, aiming to bridge urban communities with local artisans working with wild hemp. They sought to change the perception of cannabis from “dope” to “hope” by emphasizing its positive environmental and social impacts. Despite modest initial sales, the impact motivated them to expand into medicinal products. Their Ayurvedic medicine and wellness range includes licensed hemp leaf-extract products containing cannabinoids like CBD and THC, which have therapeutic value for various symptoms and ailments, discovered through research on the human Endocannabinoid System (ECS).
When BOHECO initially launched, they faced skepticism and resistance, as they were perceived as young men venturing into a controversial industry. Over the past 7.5 years, they’ve diligently worked alongside various state governments and industry partners to address challenges. They understood that success would require alignment across the entire ecosystem, from government bodies and scientists to farmers and consumers.
With an initial investment of Rs 13 lakh, BOHECO has grown its brand to a value of Rs 2 crore, with a significant boost from a $1.7 million investment in 2016 from investors like Ratan Tata. Currently, 70% of their revenue stems from their health and wellness brand (BOHECO Life), with the remainder from textile verticals such as B Label and Hemp Fabric Lab. They’ve adopted an intensive distribution model for online channels and selective distribution for offline outlets, including 75 select stores in Tier I markets and participation in numerous consumer exhibitions.
Despite challenges posed by COVID-19, particularly impacting their textile-based businesses, BOHECO has adapted by implementing inventory planning, shifting dispatch centers, and communicating with customers regarding delays. They’ve managed to sustain their CPG business while strategizing for post-lockdown recovery in other sectors. Additionally, they’ve prioritized maintaining healthy cash reserves for business stability.
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Their health and wellness products have great potential for global markets.
It’s wonderful to see BOHECO adapting to challenges like COVID-19 and still thriving.
Their efforts to rebrand cannabis as a versatile resource are much needed.
BOHECO’s approach to the hemp industry is innovative and forward-thinking.
Ratan Tata’s investment in BOHECO highlights its potential.
The growth of BOHECO from a small investment to a multi-crore brand is impressive!
Their focus on sustainability and local communities sets a great precedent.
BOHECO is a great example of how startups can drive social change.
Their commitment to working with state governments and industry partners shows their dedication.
It’s amazing how they managed to overcome initial skepticism and resistance.
BOHECO’s Ayurvedic products could revolutionize the wellness industry.
Their work with local farmers and artisans is truly commendable.
It’s fascinating how BOHECO is turning ‘dope’ into ‘hope’ through sustainable practices.
The potential for hemp in textiles and wellness products is enormous.
Educate, Cultivate, Elevate – BOHECO’s guiding principles are spot on!
I love how they started with an idea during college and turned it into a successful business.
It’s inspiring how BOHECO is helping farmers improve their socio-economic conditions.
Hemp has so many uses beyond recreational drugs; BOHECO is proving that.
Great to see young entrepreneurs tackling misconceptions about cannabis.
BOHECO’s initiative is a game-changer for the hemp industry in India!