Shreyans Parekh is the Director of KoyalWholesale.com, the world’s largest wedding and event supplies company. He founded the company along with his 2 siblings in 2003, and today, they have grown to carry over 50,000 products shipping worldwide. Shreyans graduated from Wharton’s full-time MBA program in 2010 majoring in strategic and entrepreneurial management, and marketing.
He attended the University of Pennsylvania’s undergraduate Huntsman Program in International Studies and Business, and sub matriculated into the MBA program, thus graduating with both his undergrad and grad degrees in 5 years and being one of the youngest graduates of the MBA program. He took the time out of his busy schedule to speak with us about his MBA journey.
What are the unexpected things you’ve learnt about yourself along the way?
Wow, quite a bit of unexpected things actually! I’ve learned that developing managerial skills and a managerial framework at tackling product issues is extremely important in guiding my company, KoyalWholesale.com. I learned that nearly every single ‘new’ implementation at Koyal, whether it involves personnel, technology, products, etc will almost always contribute to unexpected twists and turns on the road to becoming a truly robust global corporation.
What is the one thing you wished you had known before embarking on you MBA journey?
The one thing I wish I had known was how to leverage all the tremendous knowledge resources I had at my disposal in order to really be able to expand my company, KoyalWholesale.com. I tended to get engrossed in a lot of extracurricular activities and events that Wharton had to offer, without distilling my time and expertise within the industry that I was currently immersed in, retail e-commerce. I had been involved in two activities that boosted by management and analytical skills, Global Consulting Practicum and the Small Business Development Center, but involved working on external companies and ideas to hone my skills. Given my time commitment to these activities, I was not able to then apply these skills to Koyal, and to then develop my existing business plan with professors and entrepreneurs in house at Wharton.
What was your main reason/objective for starting your MBA…? Did this direction change over the course of your journey?
My main objective in starting my MBA at Wharton was to be able to access the business development programs, professors and classes that would enable me to grow Koyal after returning back to Southern California in 2010. My focus and objective remained constant throughout the program – to grow my expertise and analytical skills in retail and e-commerce, to be able to expand and guide Koyal along the correct course.
If you wrote a book about your MBA experience what would it be called?
The book would be called “The Global Family Business Management MBA” because the Wharton MBA has been invaluable in guiding my management of the enterprise founded by three siblings – myself, my brother Sheetal, a Pepperdine MBA, and my sister Shayna, a Yale-educated Attorney. The program also connected me with pioneers and thought leaders in e-commerce and online analytics, which has been invaluable for me to grow the company online.
What, if anything, would you change about your experience? What would make the “perfect MBA” for you?
The “perfect MBA” would have consisted of being able to communicate and share my growth strategy plan with my professors and advisors on a more engaging level to tackle our strategic growth issues worldwide. I wish I had taken advantage of Wharton’s robust entrepreneurial program to guide my strategy, and be able to grow the company globally.
What’s the one memory that will always stick with you throughout this experience?
The memory that will definitely stick with me throughout this experience will be the tremendous support and guidance of my classmates and peers. Interacted with so many established entrepreneurs, consultants and venture capitalists, has enabled me to develop the skills, expertise and confidence to grow Koyal.
What is next for you, now that you have graduated?
I will continue to devote my time and energies to growing Koyal global reach in weddings and special event decor and supplies. In addition, I will look to expand our partnerships with wedding planners, distributors, caterers and companies abroad.
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