An Exclusive Inside Look at the Life of Millennial Business Icon Praveen `Prav´Chelliah
Virtually every major analyst agrees: the past twenty-four months have drastically –and permanently- altered the overall social, economic and geopolitical landscape across every major market. A seemingly uncontainable wave of widespread changes have swept through the first month of 2021 as an undeniable sense of concern looms over every major international financial market.
However, for a new breed of multi-talented entrepreneurial figures like Prav Chelliah, the bigger the challenge, the bigger the opportunity. The young business visionary and established lifestyle guru has seized the moment and successfully positioned himself and his robust portfolio of companies at the forefront of the ever evolving “new normality”.
Chelliah´s enterprises include The Bloomfield Group – which has become synonymous with risk-free, high impact and high quality developments, Pluto Plants (a household name within Canada´s burgeoning legal cannabis industry) and the rapidly expanding ultra premium alcoholic beverage brand Ballers champagne, which has seamlessly ignited a profound revolution at the core of this ultra competitive business vertical which has seen billionaires like French born Bernard Arnault´s net worth skyrocket in recent years.
For this blooming and unapologetic nouvelle generation, the sky is certainly not the limit; But merely the view.
Praveen recently granted us an interview in which he laid out his vision and shared a handful of key strategic insights:
1. What is your "secret recipe" for financial success in the modern age?
This is a question I get asked often. It’s really too ambiguous to answer to be honest. That answer really depends on age, where you are born, the time you’re born in, etc. So many factors. Just look at the cannabis industry in Canada for example. If I was born 10 years earlier, I likely would’ve missed the cannabis train as I may have thought smoking “weed” was still taboo or socially unacceptable to tell my colleagues. Being in my early 20s, it worked out pretty well in my favor.
2. As a millennial business leader, what do you forecast for the industry in the short term?
Of course the main change I forecast is the shift of the global market to an everything online market place. This thought is further exaggerated during this Covid-19 pandemic were facing. Many retails are all forced to do business online, and of course what we see is the ones who don’t adapt are slowly going under.
In the real estate realm, (Canada wise), I see housing prices increasing outside of the greater Toronto Area, as the pattern now is people want to get out of major cities like Toronto, or New York City for example in the states. People are tired of the fast life and crowds and noise. My real estate firm Bloomfield Homes has been seeing significant housing demand increase outside the GTA, in contrast to condo pricing in downtown areas of Toronto dropping.
3. Can you share with our readers the story behind your company, Pluto Plants?
Pluto plants is a funny story. I’ve recreationally used marijuana in my youth years as many of us did. I never thought it was a harmful drug that should be criminalized like it was cocaine or heroine. When Canada decided to legalize cannabis, I knew the market demand for that product would be hot. I mean, everywhere I went people smoked weed! Even though it was illegal! I capitalized on the legalization and jumped into it full stream. Before even knowing if I would be approved to carry a cannabis retailer license, I took a gamble and bought the retail building out right. A huge risk considering if the license was denied, I just burned half a million on a building that was now useless. Of course, things worked out, and we will be opening more and more locations as time goes on.
