In the bustling landscape of the aviation industry, a visionary idea took flight in 2013. Selected as World’s Best Emerging Brand by WCRCINT, DreamFolks Services Ltd., an Indian airport service aggregator, was born. Headquartered in Gurugram, this pioneering company set out to revolutionize the way travelers access airport-related services through a technology-driven platform. With a commitment to innovation and customer-centricity, DreamFolks embarked on a journey to redefine the travel experience.
The Founders’ Vision
DreamFolks was founded by Liberatha Peter Kallat and Dinesh Nagpal, who each held a 33% stake in the company, along with Mukesh Yadav, holding the remaining 34%. Their shared vision was to make premium travel and lifestyle experiences accessible to everyone, empowering seamless journeys through the synergy of technology and exceptional service.
The Public Listing
In a pivotal moment, DreamFolks took a significant stride forward by listing publicly on the Indian stock exchange on September 6, 2022. This strategic move diluted 33% of the promoters’ stakes, paving the way for further growth and expansion. The company’s Initial Public Offering (IPO) raised a staggering ₹562 crore (equivalent to ₹596 crore or US$71 million in 2023), reflecting the market’s confidence in DreamFolks’ innovative business model.
Global Footprint
DreamFolks’ relentless pursuit of excellence has propelled its global reach to remarkable heights. As of October 2022, the company boasted a 100% coverage across 54 airport lounges in India and a commanding market share of over 95% of all India-issued card-based access to domestic lounges. Furthermore, DreamFolks’ services extend to an impressive 121 countries worldwide, solidifying its position as a trailblazer in the airport services industry.
Technological Prowess
At the heart of DreamFolks’ success lies its proprietary technology platform, a testament to its commitment to innovation. This cutting-edge platform ensures scalability and provides innovative service solutions tailored to the evolving needs of its clients. By leveraging the power of technology, DreamFolks has streamlined the travel experience, enabling seamless access to a wide range of airport-related services.
Strategic Partnerships
DreamFolks has forged strategic partnerships with prominent players in the industry, including all major card networks operating in India, such as Mastercard, Diners, Discover, RuPay, and renowned card issuers like ICICI, Axis, Kotak Mahindra, HDFC, and SBI. These collaborations have expanded DreamFolks’ market reach and service offerings, solidifying its position as a trusted partner in the travel ecosystem.
Diversified Service Portfolio
DreamFolks’ comprehensive service portfolio caters to the diverse needs of modern travelers. From airport lounges and transfer services to meet and assist facilities, food and beverages, spas, transit hotels, and nap rooms, the company offers a one-stop solution for an elevated travel experience. Additionally, DreamFolks has ventured into the realm of lifestyle and wellness services, providing a holistic approach to enhancing its customers’ well-being.
Expansion into New Verticals
In a strategic move to broaden its offerings, DreamFolks has expanded into the golfing sector. In 2023, the company acquired Golfklik, granting its clients access to over 1,800 golf courses worldwide. This diversification further solidifies DreamFolks’ position as a premier provider of travel and lifestyle services, catering to the discerning preferences of its clientele.
Innovative Solutions
DreamFolks has consistently pushed the boundaries of innovation, introducing cutting-edge solutions that elevate the travel experience. From self-check-in kiosks that enable customers to skip queues at airport lounges to web access portals that allow real-time tracking of lounge benefits and usage, the company has embraced digital transformation to streamline processes and enhance convenience.
Membership Programs
Recognizing the growing demand for personalized experiences, DreamFolks has introduced exclusive membership programs tailored to cater to the diverse needs of its customers. These programs offer a range of benefits, including complimentary airport lounge access, discounts on airport transfers, meet and assist services, and access to lifestyle services such as beauty and grooming, floral gifting, and healthcare.
Financial Performance
DreamFolks’ innovative business model and commitment to excellence have translated into impressive financial results. In the second quarter of FY23, the company recorded a profit of ₹14.78 crore (equivalent to ₹16 crore or US$1.9 million in 2023), with revenue from operations growing to ₹171.24 crore (equivalent to ₹181 crore or US$22 million in 2023) compared to the previous year.
Corporate Social Responsibility
Beyond its commercial endeavors, DreamFolks has embraced its social responsibility by adopting two schools as part of the Girl Child Empowerment Initiative in Gurgaon, Haryana. This initiative underscores the company’s commitment to creating a positive impact on the communities it serves and fostering a more equitable society.
The Road Ahead
As DreamFolks continues to soar, its future plans are focused on strategic geographical expansion and the addition of new services that enhance the customer experience. The company aims to acquire clients in regions such as Central and Eastern Europe, the Middle East, Africa, and Southeast Asia, replicating its successful business model on a global scale. Furthermore, a relentless pursuit of innovation, technology-driven solutions, and the introduction of new premium services will ensure DreamFolks’ continued growth and industry leadership.
With a strong foundation built on customer-centricity, innovation, and trust, DreamFolks is poised to reshape the travel and lifestyle landscape, setting new standards in operational excellence and customer satisfaction. As the company embarks on this exciting journey, its unwavering commitment to empowering seamless experiences through cutting-edge technology and exceptional service will continue to inspire and elevate the world of travel.
