Fashalot – India’s first & fastest growing fashion hyper-local mobile first platform connecting shoppers with retail stores near them – has crossed its inflection point with more than 200% month on month growth in transactions and GMV (Gross Merchandise Volume) since its launch in April 2015.
With marquee national, international and regional brands already on-board, Fashalot covers large fashion categories in Delhi, Bangalore and Gurgaon. “Our users are getting addicted to the idea of fashion discovery from nearby stores and check-in discounts available at store. The objective behind creating such an application was to build a bridge between offline stores and online users. Fashalot currently has 0.6 million views of 55,000+ live products and has seen peak of 250+ daily shoppers to its partner stores.” said Amit Koshal, CEO & Co-Founder of Fashalot.
For retailers, Fashalot has already started contributing to incremental revenue and in some cases it is as high as 5% of store level contribution. With 99% of USD 100 billion fashion and lifestyle being offline, Fashalot’s scalability is expected to be the highest any technology company has witnessed thus far in India. Fashalot is now at an advanced stage of discussions with the top consumer tech Venture Capital funds to raise Series A for fuelling its mega growth with an addition of 4 new cities in the next 6 months.
The team take guidance from Mr. Govind Mirchandani, ex-CEO of Reid & Taylor, ex-CEO of Madura, who has joined as the Board Advisor. “We are on the growth path to build a highly scalable and delightful business for our partners, users and other stakeholders. Fashalot will continue to grow multifold and power over 10,000 monthly foot fall by December 2015” said Amit Koshal, CEO & Co-Founder of Fashalot.
Fashalot is mobile first location based platform connecting digital users to the brick and mortar stores. Fashalot is created by seasoned professionals from Intuit and Times Group and is one of the most loved names in the fashion discovery space. The company has received Angel investment from U.S. and Indian investors. It is an app set to redefine shopping and shopping habits in India by bringing offline fashion retailers on a single platform and working for them to increase foot traffic at their retail stores.