1. Vanity fair

Vanity fair

BrandWagon checks out some of the big online fashion stores that are getting the eyeballs and the moolah

Published: December 2, 2014 12:55 AM

Myntra.com   

  • Name of the company: Myntra Designs Pvt Ltd.
  • Started:  2007, retailing personalised products. By 2011, Myntra shifted its focus to retailing fashion and lifestyle products online
  • Headquarter: Bangalore
  • Promoters: Mukesh Bansal and Ashutosh Lawania
  • Investors: Tiger Global, IDG Ventures, Accel Partners, Kalaari Capital, Premji Invest among others
  • Business model: Hybrid model; mix of inventory and marketplace model
  • Private labels:  Roadster, Dressberry, HRX by Hrithik Roshan, Anouk, Kook N Keech, Mast, Harbour and ETC.
  • Size of operations: Ganesh Subramanian, COO, Myntra says, “Myntra is aiming at a revenue of R 2000 crore by end of FY15.”

On the future of apparel as a category and where it stands

Subramanian says that according to management consultancy firm Wazir, the Indian apparel market will grow more than four times to attain $200 billion by 2025 with the country becoming the fastest growing market along with China. “This Diwali we have seen a three-time hike in sales over the same period last year. This growth trend has been noticed primarily in tier 2 and 3 cities which account for 55% of the traffic on our website,” adds Subramanian.

Faballey.com   

  • Name of the company: High Street Essentials
  • Started:  2012
  • Headquarter: Noida
  • Promoters: Tanvi Malik, Shivani Poddar and Vinod Poddar
  • Investors: Indian Angel Network
  • Business model: Private label
  • Private labels:  Faballey
  • Size of operations: Says Shivani Poddar, co-founder, Faballey, “We have been clocking 800 orders on a sustainable basis in the last six months.”

On the future of apparel as a category and where it stands

Faballey.com started as an accessories-only brand in 2012, but added apparel to its repertoire in early 2013. Clothing now comprises more than 85% of Faballey’s revenue with more than 300 new SKUs introduced every month, says Poddar. “We have 1500 styles within clothing alone, with another 500 in accessories. It works on a fast-fashion model, wherein we design, produce and launch new products every week. Our target audience comprises young, discerning and fashion conscious women. The start-up is clocking more than R1.4 crore revenue per month, growing at 25% month-on-month,” Poddar added.

Jabong.com

  • Name of the company: Jabong.com
  • Started:  2012
  • Headquarter: Gurgaon
  • Promoters: Arun Chandra Mohan and Praveen Sinha
  • Investors: CDC Group Plc, Kinnevik, Rocket Internet
  • Business model: Hybrid model; mix of inventory and marketplace model
  • Private labels:  Sangria, Lara Karren, Incult, Miss Bennett
  • Size of operations: NA

On the future of apparel as a category and where it stands

“Apparel is an important category in the e-commerce business. In fact, in the coming years, a large chunk of the e-tailing business would be apparel and accessories. As one of the leading e-tailing companies our mission is to maintain the leadership position by offering an interesting catalogue of products,” says Arun Chandra Mohan, founder and CEO of Jabong.com.

Zovi.com

  • Name of the company: Zovi.com
  • Started:  2011
  • Headquarter: Bangalore
  • Promoters: Manish Chopra and Satish Mani
  • Investors: SAIF Partners, Tiger Global
  • Business model: Private label
  • Private labels:  Zovi
  • Size of operations: “Zovi is the fastest growing online fashion brand and it is aiming to cross $100 million revenue next year,” says Manish Chopra, CEO, Zovi.com.

On the future of apparel as a category and where it stands

Apparel is one of the highest margin categories in e-commerce which makes it increasingly interesting. While price plays an important role, the range and designs are playing an important role in movement of customers to e-tailers for their fashion needs, says Chopra. “Consumers are beginning to trust Zovi with high quality products and the fact that we have a highly responsive mechanism for them to exchange/return products for any reason has built a strong level of confidence,” he adds.

Yepme.com

  • Name of the company: Vas Data Services Pvt Ltd
  • Started:  2011
  • Headquarter: Gurgaon
  • Promoters: Sandeep Sharma and Vivek Gaur
  • Investors: Helion Ventures Partners
  • Business model: Private label
  • Private labels:  Yepme
  • Size of operations: Sandeep Sharma, founder, Yepme.com, says, “Yepme dispatches close to 5,00,000 units each month.”

On the future of apparel as a category and where it stands

The ever-lasting demand for fashion and high margins is what makes the category so successful online, says Sharma. “Worldwide too, fashion is moving online and people are buying a lot through mobile devices. We are growing extremely fast and witnessing 200% growth in our revenue on a yearly basis. Apparel is the best performing category for us followed by footwear. As of now, about 70% of our revenue comes from product lines for men. Having said that, our product categories for women are witnessing strong growth now after endorsement by Esha Gupta. The top 10 cities contribute to about 35% of our sales and overall sales are dominated by southern states,” he adds.

Limeroad.com

  • Name of the company: AM Marketplaces Pvt Ltd
  • Started:  2012
  • Headquarter: Gurgaon
  • Promoters: Suchi Mukherjee, Ankush Mehra and Prashant Malik
  • Investors: Lightspeed Venture Partners, Matrix Partners India
  • Business model: Managed marketplace model
  • Private labels:  None
  • Size of operations:  Suchi, founder and CEO, LimeRoad.com, says, “In the last eight months, LimeRoad has seen a growth of 600% in sales.”

On the future of apparel as a category and where it stands

Lifestyle is going to explode in the next one year with it taking over other categories such as electronics and books, says Mukherjee. “So the aim is to turn LimeRoad into the biggest discovery platform with more focus content which includes the scrapebook style that we currently follow and improving upon in it, apart from adding more sellers,” she adds.

Fashionandyou.com   

  • Name of the company: Fashionandyou  India Pvt Ltd
  • Started:  2011
  • Headquarter: Gurgaon
  • Promoters: Smile Group
  • Investors: Sequoia Capital, Norwest Venture Partners, Intel Capital and Nokia Growth Partners
  • Business model: Flash sales
  • Private labels:  NA.
  • Size of operations: “We have been generating gross merchandise value worth $4.5 million with 6000 transactions per day,” says Aasheesh Mediratta, founder and CEO, fashionandyou.com.

On the future of apparel as a category and where it stands

“Apparel contributes 62% of our
total sales which is projected to
grow 15-20% month-on-month.
We are the leader in flash sales and our promise to the customer continues to be “Great Brands at Great Discounts” everyday,”
says Mediratta.

Zivame.com

  • Name of the company: Zivame
  • Started:  2011
  • Headquarter: Bangalore
  • Promoters: Richa Kar
  • Investors: IDG Ventures, Kalaari Capital and Unilazer Ventures
  • Business model: Inventory model
  • Private labels:  Penny and Cou Cou
  • Size of operations: Richa Kar, co-founder and CEO, Zivame, says, “The e-commerce portal is adding 15 new products month-on-month.”

On the future of apparel as a category and where it stands

“The aim is to turn Zivame into the most preferred destination for lingerie. As for  e-commerce in India, the apparel sector will have a mix of players right from multi-brand e-tailers to niche players to private labels,” says Kar.

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