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Tag: Business Models

  • What Is Creator Economy & How Is It Driving India’s GDP?

    A software-facilitated economy created on platforms like YouTube, TikTok, Instagram, Facebook, Twitch, Spotify, Substack, OnlyFans, Tiki, and Patreon that allows creators and influencers to earn revenue is known as the Creator Economy.

    As the internet evolved over the years, so did its use. The virtual universe of the world wide web became the home of not just users and consumers, but creators. Individuals turned producers managing their own brands. This resulted in revolutionizing the way content was produced, distributed, and consumed. And the Creator Economy came into being.

    How Did It Start?
    The Working
    Business Models of Creator Economy
    India & The Creator Economy
    Conclusion

    How Did It Start?

    It was Paul Saffo from Stanford University who suggested that the creator economy came into being in 1997 as the ‘new economy’. Creators during that time were people who worked with animation and illustrations, although, with no discernible marketplace infrastructure to generate revenue. It was YouTube that coined the term ‘creator’ in 2011 that, at the time, applied to individuals who were famous on the platform. The term has rapidly gained popular acceptance and now applies to individuals who create online content. Hence, the creator economy is defined as an economic system built by independent content creators who are connected to their audience and businesses via the internet. The content created can be in the form of text, podcasts, music, videos, digital books, games, etc. This content can be monetized by sharing it on ad-sponsored platforms, partnering with brands, charging subscription fees, providing services, and much more. Some examples of content creators are TikTok stars Charlie D’Amelio, PewDiePie, and Addison Rae.

    YouTube: The Birthplace of the Creator Economy

    The Working

    The umbrella of the creator economy covers an entire ecosystem encapsulating creators, consumers, advertisers, and other stakeholders that significantly affect the way content is created, distributed, consumed, and monetized. The stakeholders within this realm are –

    1.      Creators also known as infopreneurs who engage in creating various types of content on a variety of topics to build and engage their audiences and monetize their creations. These creators can be Vloggers or Bloggers who give information and advice on specialized topics, Entertainers using their skills of writing, creating music or expressing through other art forms, Guides and Experts sharing their knowledge on products or services and Celebrities who use their popularity to create content.

    2.      Consumers are the target audience of the creators who engage with them or follow their opinions for entertainment or information. Consumers also support creators monetarily through content subscription.

    3.      Platforms are used equally by the creators and consumers to engage with each other. These are third party facilitators that help creation, distribution, consumption and monetization of content. YouTube and Instagram are examples of such platforms.

    Why Influencers Are An Integral Part Of Instagram: A Case Study
    Instagram has 800 million active users and around 500,000 Influencers and 60% trying to become an influencer and make a lot of money thorough this platform
    StartupTalkyPV Vyshnavi

    4.      Businesses advertise their wares and services through content creators. Partnering with influencers allows these businesses a direct access to their target audience. It also helps to make marketing campaigns effective. Influencers earn highly from brands through this partnership.

    5.      Tools are solutions that help the stakeholders to create and distribute content and also provide valuable performance insights to creators and businesses.

    Business Models of Creator Economy

    As new and emerging as this economy is, it has introduced innovative business models that has allowed successful career sustainability for creators. Off the many business models that have sprung around this economy, some commonly successful ones are –

    1. Platform Revenue Sharing

    As the most popular business model with the least barrier entry, it is used by creators who enjoy a significantly large following and want to diversify their earning sources. Creators monetize their content by earning a portion of the advertisement revenue that is generated from their channel pages and posts.

    2. Affiliate Marketing

    As the name suggests this commission earning based model helps both the creators to generate revenue and the businesses to generate credible leads. Through this business model, creators share coupon codes or special links that they receive. These are then tracked by the platform to ascertain if such leads have converted into actual sales.

    3. Product Placement

    This type of business model works on brand partnerships where creators and influencers are paid to use or feature brands and products in their content. Creators are remunerated for mentioning the products and services and providing website links in their content. Product Placement model is preferred by influencers who enjoy a large following as their fees per mention depends on their audience reach and penetration.

    Influencer Marketing Industry – How It Started and What Is Its Future?
    Influencer marketing is a type of social media marketing. It is a rapidly growing industry, having grown from $1.7 billion in 2016 to $13.8 billion in 2021.
    StartupTalkyKinnary Nensee

    4. Brand Sponsorship

    This model works on exclusive contracts between a business and the influencer. The influencer agrees to exclusively promote the business or brand by featuring it in their content.

    5. Subscription

    There are several platforms like Instagram that offer a subscription based business model. This entails viewers paying a subscription fee to watch exclusive content, live streams and videos which are otherwise not accessible. This type of business model presents a great opportunity for creators to grow their direct fan-to-creator revenue.

    6. Self-Brand Offering

    There are creators who also launch their own products and services including accessories, clothing lines, bags, purses, etc that helps them in generating revenue and establish their own separate business that is sustainable.

    India & The Creator Economy

    Between the years 2018 and 2022, startups within the creator economy in India have raised USD 2.5 billion and as per reports, it is growing at a CAGR of 25%. The main reasons behind its growth trajectory are flexible office hours, remote work and renewal of passion pursuits.

    According to Tamseel Hussain of Livemint – “Doctors are joining the creator economy and creating shows on various health issues, farmers teaching other farmers organic farming through story telling or even brands enabling their own community members to share powerful stories instead of going to influencers.”

    The driving indicators of the Indian creator economy’s growth potential are the fundamental changes in consumer behaviour, consumption patterns and the increasing number of first-time creators showcasing their talent.

    Reiterating this Tamseel Hussain said – “The rise of affordable smartphones and internet-access packages, coupled with digital media, has made being a creator easier. The capacity of hungry audiences demanding a variety of content is also a massive driver. Today stories are everywhere, from social media platforms to televisions, OTT, offline screens and even food and shopping apps. This is changing the landscape for the creator economy, especially in smaller Indian towns and cities, by building new opportunities for creators and offering unique stories to people where they spend the most time.”

    The already growing creator economy was, then, disrupted by the outbreak of the coronavirus pandemic. The severe lockdowns pushed imaginative boundaries as creators flocked the digital space showcasing a wide variety of talent and monetizing their content.

    What is also fuelling its growth is the increasing penetration of digitization of the rural areas of the country. It is widening prospects that is ably supported by cutting-edge technology. The rapid expansion of the Tier II and Tier III cities of the country means that more than 100 million new creators are expected to join the creator community further adding to the growth of the creator economy.

    Conclusion

    The rapidly growing creator economy is also facing obstacles and challenges. However, the constant technology evolution is quickly answering those challenges making the future look very promising. The creator economy of India is set to scale with people able to generate revenue doing what they love and connecting with their roots. It will be interesting to watch how the evolution shapes in the coming years.

    FAQs

    What is the Creator Economy and how is it transforming the way people earn a living?

    A software-facilitated economy created on social media platforms that allows creators and influencers to earn revenue, transforming the way people earn by providing opportunities for self-employment and income from a direct audience.

    Who are the key players in the Creator Economy and how do they generate revenue?

    The key players in the Creator Economy are creators and influencers who generate revenue through sponsored content, merchandise sales, and direct audience support such as tips, subscriptions, or paid memberships.

    What are some popular platforms that are driving the Creator Economy, and what kind of content is most successful?

    Popular platforms driving the Creator Economy include YouTube, TikTok, Instagram, and Patreon. Successful content includes video content, tutorials, lifestyle, and entertainment.

  • How Do SaaS Startups Make Money? | SaaS Revenue Model

    Software as a Service (or SaaS) is a new method for delivering software applications over the internet. It does not require any installation or maintenance of the software to avail of the services. The software is hosted by a third party and one can access it by paying a subscription fee.

    The benefits of the SaaS model are clear. It provides lower costs, lower commitment risk, and a try-before-you-buy model, which gives customers a remarkable opportunity to assess a product before making a purchase. Indeed, the benefit is so clear that a 2017 study conducted by BetterCloud found that 86% of organizations estimate that 80% of their business apps will be delivered through the SaaS model by 2022.

    Growth chart of SaaS business apps in companies
    Growth chart of SaaS business apps in companies

    In 2022, the SaaS market valuation is at $186.6 billion and has an annual growth rate of around 18%. It is projected to grow to $700 billion by 2030.

    For software businesses, on the other hand, the SaaS model presented an entirely new way to build, distribute, market, sell, and support a software product. It affects every single part of a software operation. But the most significant change that the SaaS model brought — the one at the root of all the other changes — was the SaaS revenue model. The Software as a Service (SaaS) revenue model is associated with regular, ongoing payments over a defined period, in exchange for using a software application or other tool.

    About SaaS
    SaaS Revenue Model & Its Phases
    Phase 1: The Initial Sale
    Phase 2: Retention Revenue
    Phase 3: Expansion Revenue
    How to build a great SaaS revenue operation

    Software As A Service
    Software As A Service

    About SaaS

    SaaS is referred to as a software distribution model in which a cloud provider hosts applications and makes them available to end-users over the internet. In this model, an independent software vendor may contact a third-party cloud provider to host the application.

    SaaS is one of the categories of cloud computing that include infrastructure as a service (IaaS), and platform as a service (PaaS). SaaS applications are mostly used by IT professionals, business users, and personal users. Products ranging from entertainment services, like Netflix, to advanced IT tools come under SaaS. SaaS products are mostly marketed to B2B and B2C customers.

    As per recent McKinsey & Company study, technology industry analysts have predicted further growth in the SaaS market, and expect to see the market for SaaS products close to $200 billion by the year 2024.

    All About SaaS

    SaaS Revenue Model & Its Phases

    Before SaaS, the software revenue model was transactional and all that mattered was the initial sale of the software product. Big, fancy salesmen sold long-term deals for one, two, or even five million dollars a pop. Done. Hands dusted, gong rung, contract signed — all the revenue that was going to come from that deal had been generated.
    Enter the SaaS revenue model. It swapped the single point of revenue with three essential phases: Initial sale → Retention → Expansion

    SaaS Revenue Model
    SaaS Revenue Model

    There are three phases of the SaaS Revenue Model as listed below.

    • Phase 1: The Initial Sale
    • Phase 2: Retention Revenue
    • Phase 3: Expansion Revenue

    Phase 1: The Initial Sale

    It still exists! And it’s still an essential part of the SaaS revenue model. “Closing” an initial sale includes everything from a simple self-serve upgrade to an annual contract shepherded by an inside salesperson.

    If you play this phase well and show strong initial sales growth, you’ll get somewhere with your SaaS business. You’ll probably be able to raise some money, maybe even have a mini-brand — excellent! But these days, an initial sale brings in far less revenue than in the traditional SaaS revenue model. It’s still extremely important — you need a flow of new customers — but you also need to move on too.

    Best SaaS Marketing Agencies to hire for 2021
    SaaS Marketing Agencies can help you in automating and scaling up your marketingresults. If you are reading this article then you probably have raised somemoney to grow your Software as a Service business or platform and are nowlooking forward to increasing your customer base. Software applicati…
    StartupTalkyManav Makhija

    Phase 2: Retention Revenue

    “You mean we have to keep them happy? Forever??” – Early SaaS pioneer

    Quite so, Mr. Early SaaS Pioneer. There’s a new (SaaS) revenue model in town. Most early players, however, maintain the sales-first mentality even though they’re selling much smaller, month-to-month deals. They’re celebrating the initial sale disproportionately which is not correct for SaaS.

    On the other hand, some SaaS companies quickly realized the importance of retention. Indeed, they saw that an initial sale didn’t matter much if a new account was canceled three, six — even 12 months later. They realized they couldn’t sustain growth if they churned the customers they brought in. These people know how to play the game of SaaS.

    Today’s SaaS pros realize that retention is the biggest revenue opportunity in SaaS. An initial sale might get you $500 in the bank when you convert that deal. But retention, retention will bring in that amount times the number of months the account stays active. And why? Here’s some fast math on that point:

    • 1 month (initial sale): $500
    • x 12 months = $6k
    • x 24 months = $12k
    • x 36 months = $24k

    Indeed, the revenue opportunity from retention is exponentially larger than the initial sale. Execute well in this second phase, my friend, and you will build a solid, sustainable SaaS business. Excellent! But wait — if you want to build a great SaaS business, crush the competition, and have a shot at an IPO, you’ll have to master the third phase of the SaaS revenue model: Expansion.

    Phase 3: Expansion Revenue

    Often overlooked, always important — this is where the true secret to SaaS growth lies. Savvy SaaS teams quickly realized that they could drive revenue growth by expanding existing accounts. Upsells, cross-sells, and any other sales that could generate additional revenue from existing customers became SaaS staples. And it worked earlier, mainly because the opportunity for second-order revenue was huge.

    Calculating expansion revenue growth rate
    Calculating expansion revenue growth rate

    You understand the realities of the three phases of SaaS revenue. Excellent! But that’s only half the battle. The other half is executing against it. You’ll need to shift the way you look at adoption, customer service, sales, and marketing. Thanks to the SaaS model, the operations of software businesses are changing.

    Customer relationships: In the SaaS revenue model, customer relationships are based on the ongoing delivery of customer value.

    Marketing issues related to the SaaS/subscription model: Marketing strategies focus on growing subscribers through lead generation, branding, goodwill activities, and other efforts to create interest in the product or service.

    Operational implications of the SaaS/subscription revenue model: Companies employing the SaaS/subscription revenue model should focus primarily on delivering cost-effective customer value.

    Financial and strategic implications: In most cases, successful SaaS/subscription companies build up their subscriber base over a long period. In the interim, they require financing to develop delivery capacity as well as to support efforts to increase the user base.

    Key metrics: SaaS/subscription companies consider key metrics to be customer retention and net new growth in subscriber numbers.

    Modalities: While SaaS/subscriptions are most commonly thought of as single sales to individual subscribers, the SaaS/subscription model also works with bulk sales. Rather than selling one subscriber one subscription, a company can sell subscriptions in larger increments for a reduced per-user rate.

    Costs and benefits of the SaaS/subscription model: The SaaS/subscription revenue model usually works best when a company is servicing ongoing and continuous customer needs. This means that customer relationships may span several years. It is often challenging to convince new customers to commit to long-term contracts, especially in the case of companies offering novel products or services.

    Ultimate List of SaaS Product Review Sites
    Product reviews can help you in a number of ways and even be crucial in yoursales process. The fact is, 90% of consumers read online reviews[/indian-review-sites-new-upcoming-trend/] before even visiting a business.Similarly, 77% of B2B buyers conduct their own research before talking tosalespeo…
    StartupTalkyRishabh Rathi

    How to build a great SaaS revenue operation

    To build a great SaaS revenue operation, there are three truths teams must accept:

    1. SaaS revenue goes well beyond an initial sale. There are three essential phases of revenue and a SaaS business must execute well in all three phases to become great.
    2. Building a management structure that provides continuity and strategic consistency across these three phases of revenue will ensure the best shot at success.
    3. Product engagement is the key to winning the game of SaaS. Great SaaS operations understand this and find a way to bring this data to their team in the most actionable way possible. Great SaaS revenue models seamlessly integrate product engagement insights into every part of their customer-facing operations.

    Conclusion

    A good SaaS model provides lower costs, and lower commitment risk, and a try-before-you-buy model gives customers a remarkable opportunity to assess a product before making a purchase. For software businesses, on the other hand, the SaaS model presents an entirely new way to build, distribute, market, sell, and support a software product.

    Now that you know about the revenue model of SaaS, let’s get on board and start executing them in your business.

    FAQs

    What is SaaS?

    Software as a service (or SaaS) is a way of delivering applications over the Internet – as a service. Instead of installing and maintaining software, you simply access it via the Internet, freeing yourself from complex software and hardware management.

    What are the examples of SaaS?

    Examples of SaaS are – BigCommerce, Google Apps, Salesforce, Dropbox, MailChimp, ZenDesk, DocuSign, Slack, and Hubspot. PaaS Examples: AWS Elastic Beanstalk, Heroku, Windows Azure (mostly used as PaaS), Force.com, OpenShift, Apache Stratos, Magento Commerce Cloud.

    What are the three phases of the SaaS Revenue Model?

    The three phases of the SaaS Revenue Model are:-

    • Phase 1: The Initial Sale
    • Phase 2: Retention Revenue
    • Phase 3: Expansion Revenue

    Is Netflix a SaaS?

    Yes, Netflix is a SaaS that offers software to watch licensed videos. It follows a subscription-based model wherein the user can choose the suitable one as per its requirement.

    Is Facebook a SaaS?

    SaaS simply stands for “Software as a Service”. Facebook is a consumer network product, not technically SaaS, but there’s no other product that provides as many services as Facebook does.

    Are mobile apps SaaS?

    The new frontier for enterprise software as a service (SaaS) providers appears to be in mobile apps. While desktop platforms are still the backbone of any SaaS product, mobile apps are becoming increasingly important. Mobile apps and API connections are expected to add 0.71% growth to the SaaS Market Size.

  • redBus Business Model – How Does redBus Make Money?

    redBus is India’s first organized bus ticket booking service and the biggest aggregator of bus tickets. It has been received very promptly by the Indians. India being the 5th largest contributor to the world’s GDP, aims to take the travel and tourism industry to $250 billion by 2030 and $1 trillion by 2047.

    Companies like redBus put their immense contribution towards making the journey of travellers very convenient and safe. redBus’ contribution has taken the travel and tourism industry to great extent. Let’s look at the business model of redBus and understand its complete operations.

    RedBus – Enjoy a cozy and comfortable bus travel with RedBus!
    With all the buzz that the millennials have with traveling and easy bookings, we had to have the online booking portals that are easy as a button. Today from airfare booking to bus booking, we have all arrangements for easy and fast online booking. One such company that revolutionized the
    StartupTalkyVidhi Punamiya

    About redBus
    Where Does redBus Operate?
    Key Services of redBus
    Target Audience of redBus
    Business Model of redBus
    What Is Unique About The Business Model Of redBus?
    How Does redBus Make Money?

    About redBus

    redBus is India’s largest online bus ticketing platform headquartered in Bangalore and owned by Goibibo. It provides a ticket booking facility through its website, iOS, and Android mobile apps and connects bus travellers with a network of over 2500 bus operators.

    For better guidance, the company joined the TiE Entrepreneurship acceleration program where they got the guidance of great mentors.

    redBus was the first of its kind and no doubt, it came out radiantly. Today, it sells more than 18,000-20,000 tickets per day. The company has two subsidiaries YourBus and Empresa Digital Peruana S.A.C.

    Where Does redBus Operate?

    Till now, redBus has served more than 18 million people across the world. Outside India, redBus also has a strong foothold in many countries :

    Countries where redBus operates:

    • Colombia
    • India
    • Indonesia
    • Malaysia
    • Peru
    • Singapore

    Key Services of redBus

    redBus offers a secure and manageable experience for booking tickets online. Moreover, it offers complete choices to the customers such as choosing their destination with their preferred seating options. redBus not only works in the roadways domain but recently enters into the railway domain under the name of redRail.

    List of services provided by redBus:

    • Bus Hire
    • Bus Tickets
    • rPool (Bikepool & Carpool)
    • rYde
    • redRail

    Target Audience of redBus

    redBus generally target audiences who want to book a bus ticket without going to the physical place to buy a ticket. This concept of redBus is made to acquire its consumers by providing customer support, discounts, and other perks which are impossible to get at the physical bus counter.

    Business Model of redBus

    The business model of redBus is very strong along with its digital marketing strategies. redBus’ business model is straightforward, as it charges a commission on every bus ticket booking. It also charges a commission from the bus operator on every ticket booked through its platform. The commission is approximately 10-20% based on the value of the ticket being sold.

    redBus also provides hotel services along with ticket booking. It offers great deals on various occasions and also offers special discounts as well. But, the most advantageous factor that comes with RedBus is that it provides an opportunity for the customer to choose the most favourable route to their destination with the best seat in the best bus.

    What Is Unique About The Business Model Of redBus?

    Its business model is entirely based on its quality service to the customers. Its social media strategies are designed so well that it always finds great proposals for its audiences. It mostly keeps on promotion but that too, on customers’ demands and favours.

    Some of the features that make it unique are:

    • Customers can track their buses.
    • Customers can book buses according to the ratings.
    • There are reserved seats for women.
    • Customers can give feedback on the services provided and their experiences after the trip.

    How Does redBus Make Money?

    redBus makes its money by charging some fee as commission from the bus operators on each booked ticket on redBus. The commission comes as 10-20% of the total ticket value.

    In 2019, redBus received great success, it had annual revenue of $85 million. The company has a valuation of $710 million in 2020. Now, it has over 36 million users from all over the world with 3500 bus operators according to the data given on its website. And known as the largest online bus ticket company.

    Conclusion

    redBus has gone through lots of success and failure since its launch in 2006. There are tons of bus services available 24×7 to meet all the needs of travellers. Its business model is quite simple and strong but most importantly, redBus is widely famous and welcomed among the common people.

    redBus eases the major issue of finding the correct bus for any destination. It’s one step closer to fulfilling every need of a traveller along with destination travel requirements. redBus is one of its kind and it’s a true inspiration for developing services for the betterment of common people.

    FAQs

    What is redBus?

    redBus is an online bus ticket booking platform from Phanindra Sama, Charan Padmaraju, and Sudhakar Pasupunuri in 2006.

    What are the subsidiaries of redBus?

    redBus has two subsidiaries YourBus and Empresa Digital Peruana S.A.C.

    How much commission does redBus take?

    redBus charges a 10% to 20% commission on the value of the ticket.

    Which company owns redBus?

    The parent company of redBus is Goibibo.

    Who is the founder of redBus?

    Phanindra Sama, Charan Padmaraju, and Sudhakar Pasupunuri founded redBus in August 2006.

    Did Ibibo Group acquire redBus?

    Yes, redBus was sold to Ibibo Group for $138 million.

  • How Companies Use Green Marketing Strategies For Their brands?

    In 2022, we are living in an Era of Climate Change. It is a well-known fact that people are now becoming more concerned about environmental issues. The awareness of sustaining the environment has risen to a global level. Human beings all around the globe are thinking of being kinder to the planet and considers pollution of all type (air pollution, plastic waste, global warming, food waste, etc.) as a major threat to the environment around us.

    In a small initiative towards our mother planet, people have been showing interest in buying products or engaging in purchasing services that are eco-friendly and have less or no impact on the environment, even if that product or service would cost them a little more. For example, people are more comfortable paying high prices for organic cosmetics than the ones that are cheap but processed chemically. On a similar note, organic products, or services that have negligible impact on the environment tend to experience high demand from their customers or users.

    Catching on to the trend, organizations have started utilizing sustainable approaches to their business models and aim to contribute to societal goals through Corporate social responsibility because these factors determine the future of their organization.

    Green Marketing Strategies

    Importance of Sustainability and Corporate Social Responsibility for Businesses Worldwide
    Green Business Model
    Benefits of Associating Brands with Ecology
    Green Marketing Strategy and Its 4 P’s

    Top 3 Best Eco-Friendly Business Ideas You Can Start in 2022
    As people are getting more conscious about the environment an eco-friendly business idea can turn out profitable. so here we have listed business ideas.
    StartupTalkyManav Makhija

    Importance of Sustainability and Corporate Social Responsibility for Businesses Worldwide

    Sustainability and Corporate Social Responsibility for Businesses
    Sustainability and Corporate Social Responsibility for Businesses

    The world has arrived at a point where the climate is a matter of concern and needs to be dealt with seriously. The heatwaves around the globe and scarce natural resources are already the signs of it getting worse day by day even after prolonged healthy ways of sustainability. This proves that we need to do even more of what is already being done. We must accept the fact that we caused the climate crisis and need to incorporate a changed, rather much more productive business model to be a thrust for good in the world.

    Sustainability is utilizing resources in a way that not only fulfills the needs of the present generations but is also sufficient for the coming generations and thereafter. Utilization along with preservation is the key to gaining sustainability.

    Corporate social responsibilities are the policies and practices incorporated by the organization to leave a positive impact on the world. These are ethically oriented practices that reflect accountability and commitment to the well-being of society.

    Businesses need to combine environmental sustainability as well as their social responsibility in their business models to create something that is not only beneficial for them in monetary terms yet additionally profitable for the people, society, and the surrounding at the same time. Even consumers nowadays want to associate themselves or build a transactional relationship with organizations that are eco-friendly in nature. They think that their actions make a difference, in other words, they feel when eco-friendly companies are prioritized over others, they are not only taking the initiative to protect the environment themselves but also pushing other organizations in doing the same.

    What Makes remote Working Beneficial to the Environment
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    Green Business Model

    Green Business Model
    Green Business Model

    As the name suggests, it refers to new, innovative, and eco-friendly ways of leading a business that is not only suitable for the present generation yet additionally builds a sustainable environment for the coming generations as well. To incorporate a green business model, companies adhere to certain practices that are fruitful for the environment around them. A few basic ways in which companies could frame their policies in the context of the green business model are:

    • Recycling of their products and materials used,
    • Substitution of unwanted or toxic elements,
    • Reducing the ecological footprint,
    • Focusing more on environmental values than on economic benefits,
    • Utilizing renewable energies,
    • Adhering to Corporate Social Responsibility,
    • Reducing expenses on plastic packaging, transportation, and energy and water usage.

    Benefits of Associating Brands with Ecology

    Brands with Ecology
    Brands with Ecology

    There are a lot of monetary as well as psychological benefits to the green business model. The below-mentioned points are a few reasons for incorporating businesses with an ecological marketing framework:

    • Businesses get an opportunity to take positive action concerning the environment.
    • The business is regarded as a progressive and revolutionary brand
    • They become more trustworthy in the market in no time
    • They tend to attract the section of customers that are eco-friendly and are highly concerned with protecting and preserving the natural environment. These customers have a willingness to spend more to be ethical towards society.
    • Associating business models with ecological aspects is an amazing way to differentiate a particular business from competitors in the market.
    • The brand always stays on top in the market, as organic products nowadays have a high demand. This ultimately benefits the organization in rapid growth.

    A Complete Guide on Green Marketing, Its Importance & Benefits
    Green marketing is the process of promoting products or services which are eco-friendly. These products or services may be environmentally friendly in themselves or produced in an environmentally friendly way.
    StartupTalkyAvantika Bhardwaj

    For example, there are a lot of leading shampoo brands such as Sunsilk, Clinic Plus, Head & Shoulders, etc., available in the market, but the ones that have just entered the business, like WoW, Mamaearth, and Khadi have been proclaimed as a much trustworthy brand than the former by the same customers despite being costly and have encountered a rapid growth within a couple of years. This is sole because they have focused on delivering organic materials.

    Green Marketing Strategy and Its 4 P’s

    Green Marketing Strategy and Its 4 P’s
    Green Marketing Strategy and Its 4 P’s

    A marketing strategy is a plan that resembles the vision and goal of an organization and is reviewed on an annual basis. Whereas the green marketing strategy plan focuses on developing a market plan that only maximizes the profits for businesses yet additionally works with principles and policies that are sustainable for the environment.

    There are a few key elements of a green marketing strategy:

    • The goal of the business: To develop a green marketing strategy, the mission and vision of the organization should be lined up to plan out things in the most appropriate way possible.
    • The objective of the business: The objective of the business ought to be stated very clearly and should cover the goals as well.
    • Strategies and Plannings: After the goals and objectives of a business are formulated, the most important that comes is the strategies and planning. The strategy must be articulated in a way that depicts how the objective of the business will be achieved and in what period of time.
    • For example, if a company is indulged in the manufacturing business, then it should focus on buying locally available resources instead of importing raw materials from outside. This step will help the organization in reducing its carbon footprint. Furthermore, planning refers to specific means that would be utilized to accomplish the strategies.
    • Market: The market segment that will be targeted needs to be predetermined.
    • Target customers: Identifying potential customers or users is the most critical task. There are all sorts of customers in the market, people who are enthusiasts about the environment and would only purchase products that are eco-friendly or organic. Whereas there are still a large number of people who are not concerned much about the environment and buy products that suit their budget or are considered cheap and best.
    • Therefore, choosing the targeted audience is a critical task and needs to be formulated in a way that the products and services of a business not only serve one section of the customer but are beneficial for the other as well.

    List of Top 15 Sustainable Startups in India
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    Furthermore, the 4 P’s had to be incorporated into the above business plan to lead and gain maximum trust and profit from the market. Developing the strategies around these areas enhances the brand value, sales of the product and services, and profitability. They are:

    • Green Product: Companies nowadays are focusing on developing greener products that are eco-friendly and use recycled scraps to manufacture new products to lessen their need for new raw materials. For example, Nike manufactures most of its shoes by recycling scrap and plastic bottles from waste. This step not only reduces landfill waste but also helps them in cutting manufacturing costs while decreasing their dependence on new materials.
    • Green Price: It is a well-known fact that green products are costlier than non-green products which only attracts only a few segments of society that are extremely concerned about the environment and are willing to pay more. So, this aspect needs to be worked on a little so that the pricing of greener products and conventional ones do not have a difference in pricing.
    • Green Place: Companies ought to choose a place that minimizes the customers’ as well as the manufacturers’ efforts in purchasing or selling the product. E-commerce websites are quite eco-friendly in this aspect as it cuts down the transportation of goods and services.
    • Green Promotion: While selling a product in the market, companies donate a portion of their profits to charities that are doing good for the environment. They have long-term environmental goals, such as 50% less carbon footprint by 2025, creative ways to save power, no plastic usage, and planting a tree for every item sold. These measures help them in bringing practices that ultimately promote them as an advocate of the environment.

    Conclusion

    Globally, people are thinking about how to treat the world better and see pollution as a serious threat to the ecosystem. People have been interested in acquiring eco-friendly goods and services that have little to no impact on the environment, even if they cost a little more, as a modest gesture to our mother earth. Sustainability is achieved through both consumption and preservation. Innovative, sustainable business methods that not only benefit the current generation but also create a sustainable environment for future generations.

  • Business Model of Shein – How Does Shein Make Money?

    Shein has gained immense popularity among the youth. If you are a fashionista then you must have bought some trendy clothes from Shein at a very low price. The company has been very successful in the ultra-fast fashion market. Shein ships in 220 countries and provides clothes for men, women, and children.

    According to research, it was found that in 2021 Shein’s mobile app had over 7 million users in the US alone. The hashtag #Shein has generated over 6.2 billion views on TikTok. The estimated revenue of this company is $10 billion every year. Let’s see the Business Model of Shein in great detail.

    What is Shein?
    Evolution of the Fashion Industry
    Ultra-Fast Fashion
    Business Model of Shein
    Marketing Strategy of Shein
    What’s Unique About Shein?
    How Does Shein Make Money?

    What is Shein?

    Shein is a Chinese international B2C fast-fashion online platform headquartered in China. The company was founded by Chris Xu in 2008. The company sells clothes, bags, shoes, accessories, and other fashion items. Shein’s target countries are Europe, America, and the Middle East. The brand is very popular among Gen Z.

    Shein mainly works by targeting the audience who prefers western clothes. As for the target market, Shein mainly works for young people who want to be unique and socially acceptable.

    Before we have a deeper look at the business model let’s first understand how the fashion industry works. This will help us better understand the Business Model.

    Evolution of the Fashion Industry

    In the late 1990s and early 2000s, Zara and H&M introduced the world of fast fashion. Buying trendy clothes from the stores at a very low price was something new to the people.

    Zara introduced this phenomenon to the people and made a lot of money. The key components that helped Zara become successful were shorter manufacturing cycles, following the fast-moving trends, just-in-time logistics, and big investments in flagship stores located in most city centers.

    This enabled the stores to provide a wide variety of trendy inexpensive clothes that changed every week. Variety, speed, and convenience were the main factors of the fast fashion model.

    Until the 2010s this business model worked pretty well. Since then, e-commerce has penetrated the market which led to the growth of mobile commerce. Due to this, the fast fashion industry changed completely.

    Ultra-Fast Fashion

    Over time many people started using mobile and mobile commerce grew rapidly. Due to the internet, people were able to get information instantly. Everything shifted online. Using social media and other online platforms people were able to understand fashion trends instantly in a very short time.

    Fast Fashion evolved to ultra-fast fashion where only a few designs were created to test the likes of people. If the people demanded the clothes they were made in large numbers. The ultra fast-fashion retailer invested all its capital in capturing fashion trends even faster.

    Clothes and other fashion accessories were manufactured at a very high speed. Massive money was invested in logistics to deliver products to millions of customers without operating physical stores. Now, as you have understood how the ultra-fast fashion industry works and how the fashion industry has evolved let’s have a look at the business model.

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    Business Model of Shein

    Shein Website
    Shein Website 

    To understand the business model of Shein let’s first see how a fast food delivery company works. There are thousands of ghost kitchens everywhere. When you order food online the food delivery services take the food from these ghost kitchens and deliver it to your doorstep.

    Your preferences and the number of orders you place dictate the opening and closing of these ghost kitchens. Shein’s business model also behaves similarly. Shein does a partnership with these ghost factories and promises demand. They install their order system in these factories which helps them to track and deliver the orders efficiently.

    Shein teaches them how to manufacture things efficiently. In this way, Shein produces fashion items at a much faster rate. The company understands what things are booming in the fashion industry, produces product pages, checks the engagement behaviour, and then tells the factories to produce the products.

    Shein has a strong online presence. After reading about the evolution of the fashion industry and ultra-fast fashion you must have understood that a strong online presence and understanding the fashion trends quickly are necessary to be successful in this industry.

    Shein advertises aggressively on TikTok and other social media handles. After working for so long in this industry Shein is able to understand the fashion trends much faster than other companies. The company has further shortened the manufacturing cycles.

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    Marketing Strategy of Shein

    Aggressive Marketing on Social Media

    Shein marketing on Instagram
    Shein marketing on Instagram

    The company’s marketing is majorly focused on social media. Shein has understood that social media has a great influence on youth. The company is the #1 brand for TikTok teens.

    Shein has an army of fashion bloggers that constantly post content on TikTok using the hashtag Shein. In return, Influencers get free merchandise. On YouTube, people share their experiences with Shein. Since the company provides a large variety of products many YouTubers are interested in reviewing their products.

    Affiliate Programs

    Shein’s affiliate program has helped the company to increase its conversions. In this program, people can earn a commission by recommending Shein products to others. If they place the order you get a small commission. Due to these affiliate programs, many teens have promoted their products on social media. This has increased the company’s reach.

    What’s Unique About Shein?

    Shein is the most preferred fashion brand by the young generation. There are multiple things in Shein’s business model that makes it different from other:

    Model

    To have the upper hand over its competitors the company uses the digital-first model. The digital-first model enables the customers to make a purchase by the means of a digital platform and get it delivered at their preferred locations.

    Marketing Strategy

    Shein uses a micro-influencer marketing strategy. There are several micro-influencers in coordination with Shein and the company provides them with gifts at the end of each month. This give-and-take relation makes a better marketing strategy for the platform.

    An Indian Actress Advertising Shein Sale on her Social Media Account
    An Indian Actress Advertising Shein Sale on her Social Media Account

    Use of Social Media

    Social Media users have noticed Shein on their screens while scrolling through social media platforms like YouTube, Tik Tok, Instagram, etc. The media influencers contribute majorly to the selling of Shein products at such mediums. This strategy enables Shein to directly showcase its product in the market.

    How Does Shein Make Money?

    Shein’s revenue model is simple. The company earns money by selling products online. They sell a cheap version of trendy clothes and fashion items via their mobile app. The company uses the vertical integration strategy.

    Shein earns its revenue in multiple ways. The most preferred method is by selling clothes. Shein purchases clothes in bulk quantity for a cheaper price and then sells them at a higher percentage.

    Apart from this, Shein also replicates the high-end dresses to sell them at relatively lower prices. This practice also increases the sales of Shein and hence making an additional column in the money chart.

    Apart from all the above money-making options, Shein also provides in-app advertisements on its platform and generates some revenue through it too.

    Shein Revenue for 2020-2022 in US Billion Dollars
    Shein Revenue for 2020-2022 in US Billion Dollars

    Conclusion

    Shein understood fast fashion better than other companies. As the company provides a large variety of products at a very low price many people love shopping through Shein. The company has a lot of Influencers on various social media platforms which helps them to increase its popularity.

    In the west, many people prefer Shein over Amazon. This shows how much the company has grown over these years. To stay in this race for a longer period the company needs to identify the fashion trends quickly and provide those clothes to the people before it gets out of fashion.

    FAQs

    Who is the CEO of the Shein?

    The current CEO of Shein is Chris Xu.

    Who owns the company, Shein?

    Shein is owned by a parent organization named Nanjing Lingtian Information Technology with four major shareholders named JAFCO Asia, IDG Capital, Sequoia Capital China, and Tiger Global Management.

    Why is Shein so successful?

    There are numerous reasons for Shein to be counted as a successful firm. Some of the factors responsible for making Shein successful are its effective marketing strategy, customer value, and brand model. Shein values customer satisfaction over profit and is in a give-and-take relationship with its influencers to advertise.

    Is Shein a profitable company?

    Shein does not provide many insights into its financial details. However, with the available information, one can easily estimate that Shein is a profitable company.

  • Business Model of Dailyhunt – Most Preferred Local News Sharing Platform in India

    The days when all the essential pieces of information from across the globe were shared by only the means of newspaper or the television screen are now the past of the present world.

    Today, the news can be shared and accepted by just using a smartphone. There are several applications made across the globe that enable the sharing of news easily and fast. One such app is named Dailyhunt.

    Dailyhunt is not something similar to other available platforms. Dailyhunt is one of the major platforms used for the sharing of news across the nation with many Indian languages accepted.

    Introduced in the year 2010, Dailyhunt is a mobile-based news application and news aggregator platform giving a common point to all Indians. It is recorded to gain high popularity day by day mainly because of the multiple local languages supported by the platform. To know more about Dailyhunt’s business model, continue to read below.

    Dailyhunt – About
    Dailyhunt – Startup Story
    Dailyhunt – Business Model
    What Is Unique About the Business Model of Dailyhunt?
    Dailyhunt – Target Audience
    Dailyhunt – Competitors
    How Does Dailyhunt Make Money?

    Dailyhunt – About

    Dailyhunt is a news aggregator and Indian content application that has its headquarters located in Bangalore, India. The company was formerly known as Newshunt and was launched in the year 2010. Dailyhunt provides news articles in local languages i.e., around 14 languages from different content providers.

    Dailyhunt was previously named as Newshunt
    Dailyhunt was previously named Newshunt

    The mission of the company is “the Indic platform empowering a billion Indians to discover, consume and socialize with content that informs, enriches and entertains”.

    The mobile application was produced by two ex-employees of Nokia and was then acquired by the founder of Verse Innovations. Later on, the mobile-based news-sharing service was renamed Dailyhunt during the peak of its popularity.

    Dailyhunt is one of its kind of platforms that allows its users to share information in their own desired language rather than depending on any one language.

    From the time of its introduction to now, Dailyhunt has seen great popularity in its name. Currently, Dailyhunt enjoys more than 350 million users monthly with its revenue around $127 million in 2022.

    Currently, the platform is managed by Virendra Gupta who serves as the CEO of the firm, and Umang Bedi as the President of the platform.

    Dailyhunt – Startup Story

    Virendra Gupta - Founder and CEO of Dailyhunt
    Virendra Gupta – Founder and CEO of Dailyhunt

    The most favoured local news platform Dailyhunt was started by two ex-Nokia employees in the year 2009. Soon, it was taken over by Virendra Gupta, the founder of Verse. The Verse Innovation was a value-added company. Verse innovation currently is a local language technology company and is counted as the parent organization of Dailyhunt.

    The founder of Verse Innovation started his firm in the year 2007. But even after the success of the newly launched technology, something was missing in his innovation.

    He believed that his product will not maintain its shine in the market for a longer period. At such moment, previously known as Newshunt came to his notice. Virendra Gupta purchased the Newshunt in 2011 and it was renamed Dailyhunt in 2015.

    The vision seen by Virendra Gupta on Dailyhunt was to create a platform that provides content in vernacular languages. He believed that 70% of India consists of non-English speakers and that was the target audience for Dailyhunt. Hence, after taking over the Newshunt and with the introduction of better facilities, Dailyhunt kept on becoming a larger platform and giving tough competition to non-Indian platforms.

    Dailyhunt – Business Model

    Dailyhunt Group has different types of offerings which are mainly divided into 3 broad categories. One of the key features of this application is that they provide content in regional languages.

    The company acts as a news aggregator through Dailyhunt, they also have another entity called Greynium Technologies that house news and various other platforms that provide content such as CareerIndia, OneIndia, Boldsky.com, Gizbot, etc. The company has also launched a platform named Josh which is similar to TikTok as a short video-sharing platform.

    As mentioned earlier the important feature of all the application are it provides content in local languages. Dailyhunt provides content in 14 different languages, whereas Josh provides content in 12 different languages and the other content platforms provide content in 9 different languages.

    The Dailyhunt group has a huge base of content providers which include 100K content partners, news content published in 14 different languages by content creators producing 250K news every day.

    What Is Unique About the Business Model of Dailyhunt?

    Dailyhunt’s business model is very unique compared to other content providers as mentioned earlier all the platforms of Dailyhunt provide various content in local languages. The English content providers will have to directly compete with already well-established global creators such as Instagram, Facebook, Twitter, etc.

    Whereas Dailyhunt concentrates on the Indian market by providing content in local languages. The application has also been able to secure a well-established position in the market.

    Dailyhunt – Target Audience

    Dailyhunt focuses mainly on the millennial group in the country where the age varies from 25-34 years. However, the company focuses on providing content in regional local languages through which it targets all the major populations in India including the people from rural areas as well.

    Global Ranking Chart of Dailyhunt
    Global Ranking Chart of Dailyhunt 

    Dailyhunt – Competitors

    Even though Dailyhunt had stepped foot into the market at an early stage, they have many competitors in the news industry. With the growth of digital content, a lot of applications are racing to reach the number one position in the news aggregator Industry.

    The competitors of Dailyhunt are Feedly, Google News, Flipboard, Inshorts, etc
    The competitors of Dailyhunt are Feedly, Google News, Flipboard, Inshorts, etc

    There is no direct competition for Dailyhunt as they have content in various languages. One of the major competitors as a news aggregator for Dailyhunt is Google News.

    Other than Google News some of the other competitors of Dailyhunt include Flipboard, Inshorts, Briefing, Feedly, etc.

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    How Does Dailyhunt Make Money?

    Dailyhunt’s major source of revenue is through advertisements however, in the year FY19-20 the company was able to increase its revenue up by 100% year on year despite the pandemic. Other than this the application concentrated on raising funds and has had multiple funding rounds.

    Recently in the year 2020, Dailyhunt had become a Unicorn Startup in India. The company has received a total funding of around USD 540 million and the most recent funding was USD 207 million which was through Series H funding.

    The company also receives revenue through e-books as well as magazines. Anyone can read the news provided by Dailyhunt for free of cost but for downloading the books or magazines one will have to make a payment for it.  

    Conclusion

    Dailyhunt was one of the unique platforms that gain popularity quickly despite the risks present in the market. From the time of its start to now Dailyhunt has seen significant growth in the news aggregator market and through its unique approach to providing content in different languages, the company was able to stand out from its competitors. The above text provides basic information about Dailyhunt and its business model.

    FAQs

    How does Dailyhunt make money?

    There are multiple ways through which Dailyhunt creates revenue. One of the major sources of income for Dailyhunt is by the means of advertising. Dailyhunt earns money by selling out advertisements for different startups and services on its application.

    Who is Virendra Gupta?

    Virendra Gupta is the founder and Present CEO of the company, Dailyhunt.

    Is Dailyhunt a product-based company?

    No, Dailyhunt is not a product-based company. Instead, it can be considered a service-based company mostly used for sharing information.

    Who are the investors of Dailyhunt?

    Dailyhunt has more than one investor attached to it. Some of them are Kotak Investment Advisors, Luxor Capital Group, Baillie Gifford, Sumeru Ventures, and many others.

  • Flyrobe Business Model: How Does Flyrobe Make Money?

    Indians never fail to amuse themselves with their traditional attire, especially in ethnic wear on occasions or events. On the other hand, wearing such clothes costs like anything in this world, even if you are wearing them for one day or keeping them permanently.

    That’s why Flyrobe has made a favourable store by conferring rental dresses at affordable prices. Besides that, customers can buy the products by paying the full settlement.

    Flyrobe – About
    Flyrobe – Products and Services
    Flyrobe – Target Audience
    Flyrobe – Business Model
    What Is Unique About Flyrobe’s Business Model?
    How Does Flyrobe Make Money?

    Flyrobe – About

    Flyrobe is an online rental clothing company for men and women. Instead of owning a one lakh dress for a one-day occasion, renting it at an affordable rate would do wonders. Flyrobe sells handmade ethnic wear of the RIB brand and charges fare only on the rental dresses but they ask you to pay extra if you exceed the specified due date.

    On the other note, there are no delivery fees or transportation charges and also the company grants one more expedient to the customers where the required product delivers within 3 hours.

    Notably, Flyrobe is an online clothing portal that sells as well as rents western attire, ethnic, accessories, designers, and men’s and women’s collections which was launched in 2015 by Pranay Surana, Tushar Saxena, and Shreya Mishra.

    Currently, the business is planning to open 30  branches in different cities to dilate their services in the country. The company is operating in 10 major cities in India and has two offline stores in Mumbai, Bangalore, Ahmedabad, and Delhi.

    Flyrobe – Products and Services

    Flyrobe is known for its Ethnic attire, which is made by its handcrafted RIB brand. Subsidiarily, The company sells branded clothes such as Zara, Armani, GLITZ, Sabyasachi, DIOR, etc. to the customers.

    Flyrobe also sells designer collections, and accessories like sunglasses, bracelets, rings, and chains. Furthermore, Flyrobe offers party dresses, lehengas, sherwani, tuxedos, and other branded collections.

    Flyrobe Website
    Flyrobe Website

    Flyrobe comes up amazingly with its new arrivals of handcrafted dresses which are given as rentals at a reasonable price. In case you are buying such dresses from Flyrobe, it is said that it costs an arm and a leg.

    The store also touts celebrities’ look outfits and renowned designer’s outfits, whereas Alia Bhatt, Sonakshi Singha, Parineeti Chopra, and others have played a part in the growth of Flyrobe.

    Flyrobe – Target Audience

    Every woman admires herself when it comes to traditional wear, so it is highly recommended for the age group 20 to 40 years, who love to wear ethnic attire to any occasion to amuse others with their classy look. So Flyrobe targets women majorly by selling or renting women’s collections at a pragmatic price.

    Flyrobe – Business Model

    Unlike other clothing companies, Flyrobe renders their clothes in rental to the customers at a cheaper rate. They rent the on-demand product for a four to eight days period and charge no delivery fees. But if the specified rental period became due, then the customers are asked to send an email to the company in requisition for the dilatory.

    It is saddening when one buys an expensive dress for 50 thousand rupees but wears it only for a one-day event. That’s why Flyrobe sounds good when expensive clothes are available for rent at an affordable rate to the customers for 4 to 8 days without delivery charges.

    What Is Unique About Flyrobe’s Business Model?

    Being on top of its game, Flyrobe uses unique ideas that make them stand apart from its competitors. Some of the ideas used by Flyrobe are:

    No delivery charges

    Flyrobe provides an excellent service to its customers by way of free pick up and delivery to the address provided by the customer. This is one of the few reasons why Flyrobe is popular among its competitors and customers likewise. The delivery of western clothing within 3 hours with no pickup and delivery charges was coveted by the customers of Flyrobe.

    Services offered in 16 major cities

    Flyrobe offers its service in 16 major Indian cities: Delhi, Gurugram, Faridabad, Noida, Ghaziabad, Chandigarh, Ludhiana, Jaipur, Mumbai, Pune, Indore, Lucknow, Hyderabad, Ahmedabad, Bengaluru, and Agra.

    Rented outfits at a cheap price

    The very reason why Flyrobe is favored is because of renting good quality ethnic and western wear at a cheap price affordable to people. This allows people who would want a lehenga for a 3-day function to not spend a fortune on buying a lehenga but also wear one that makes a statement.

    Offers a wide range of clothing from top designers

    Who wouldn’t love wearing a lehenga from the maker of Anushka Sharma’s wedding lehenga and not having to sell their kidney in the process? Flyrobe offers ethnic and western clothing from top designers like Sabyasachi, Zara, Armani GLITZ, Dior, etc. to its customers and has multiple partnerships with several agencies and designers.

    Online and In-store presence

    Flyrobe’s online reputation across 16 Indian cities at a reasonable rate of rent for a minimum of four days has customers crowding their site. Customers who want to make alterations to the dress can visit their stores and get a fitting done for no cost.

    How Does Flyrobe Make Money?

    Flyrobe is gaining much recognition with different types of audiences favouring its concept. Flyrobe makes money in more than one pattern. The majority of the revenue collected by Flyrobe comes from its online sales. As per its founders, 65% of revenue is collected from its online sales.

    Apart from that, Flyrobe charges a commission from its sellers on each successful renting and purchase. There is also the option of a subscription plan available for its users which provides additional benefits to the user.

    On the other hand, Flyrobe charges a fixed amount from then in return for the subscription model. Flyrobe also earns its revenue from the advertisements provided on its platform.

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    Conclusion

    Flyrobe’s unique idea created an industry that is thriving and profitable. It is well received among those people who would love to wear high-end fashionable ethnic wear to marriages and functions as these are celebrated as grand festivities in India but can’t afford to purchase them for a one-time affair.

    And the ability to wear International branded western wear for rent is an option that is positively tempting to those who love fashion. The largest rental platform’s presence in 16 major cities in India and the offline stores only help in increasing the reach of Flyrobe among masses of people who are planning a budget wedding dress.    

    FAQs

    What is Flyrobe?

    Flyrobe is a startup focused on fashion-based products which allow them to be rented and purchased. Majorly, it is an apparel-based renting platform.

    Who started Flyrobe?

    Flyrobe was started by Shreya Mishra, Tushar Saxena, and Pranay Surana in 2015.

    Can I rent my clothes on Flyrobe?

    Yes, Flyrobe allows easy renting of individuals’ clothes on its platform. One can easily rent their clothes on Flyrobe until and unless the dress meets all the eligibility criteria of the startup.

    Is Flyrobe Profitable?

    Flyrobe is a profitable business as its revenue collection has been noted to have significant growth over the years.

  • Gojek Business Model – How Does Gojek Make Money?

    Gojek is an Indonesian super app which is a one-stop destination for paying bills, booking movie tickets, ordering food, buying groceries, sending or receiving packages, booking two-wheeler or four-wheeler taxis, paying money digitally and much more. The company provides 20+ services to consumers.

    The company which started as a ride-hailing service with just 20 motorcycles is now Indonesia’s first decacorn.

    In May 2021, Gojek merged with Indonesian e-commerce company Tokopedia to form GoToGroup. The company has created its own ecosystem and is growing at a rapid scale.

    In the beginning, the company faced tough competition from Uber but, still, the company was able to beat the company all thanks to its business and revenue model.

    Let’s decode the business and revenue model of Gojek, shall we?

    What is Gojek?
    Main Services of Gojek
    Target Audience of Gojek
    Business Model of Gojek
    What Is Unique About Gojek?
    How Does Gojek Make Money?
    How Did Gojek Destroy Uber?

    What is Gojek?

    Gojek is an Indonesian company that has a super app using which you can pay money digitally and get access to on-demand services in various sectors like transport and logistics, food and shopping, daily needs, business, news and entertainment. Basically, the app is a one-stop destination for users to get a wide variety of services.

    Gojek operates in 5 counties: Indonesia, Vietnam, Singapore, Thailand, and the Philippines. The headquarters of this company is in Jakarta.

    The journey of the company started in 2010 when the company had 20 motorcycle drivers who were providing on-demand bike rides to passengers. Later, the company started providing food delivery and courier services.

    Although things completely changed for the company when it launched its official app in 2015 with four services: GoRide, GoSend, GoShop, and GoFood. Later, Gojek changed its business model to a super app and the rest is history.

    Main Services of Gojek

    Gojek provides 20+ services to its users:

    Transportation and Logistics:

    • Goride: Get a two-wheeler taxi and reach your destination on time.
    • Gocar: Book a four-wheeler taxi.
    • Gosend: Send or receive packages within a few hours.
    • Gobox: If you moving out and want to shift your goods to the new house you can use this service.
    • Gobluebird: Book exclusive Bluebird rides (Bluebird is Indonesia’s leading taxi operator).
    • Gotransit: Acts as a trip assistant where users can plan, track and reach from one destination to another using: public transportation, Gojek transport or a combination of both. This service provides real-time updates.

    Food and Shopping:

    • Gofood: Order food online from your favourite restaurant.
    • Gomall: Buy products from the online marketplace.
    • Gomart: Get groceries at your doorstep.
    • Gomed: Buy medicines from licensed pharmacies.

    Payments:

    • Gopay: 4th largest e-wallet service in Indonesia
    • Gobills: Pay your bills online.
    • GoPaylater: GoPayLater from Findaya provides a payment method where users can pay bills, buy clothes and pay the money in the upcoming months
    • Gopulsa: Top up your data and talk time.
    • Gogive: Donate money to the trusted NGO and GO beneficiaries.
    • Goinvestasi: Buy and sell gold and get the money credited to your Gopay account

    Daily Needs:

    • Gofitness: Access exercises such as yoga, Zumba, pilates and many more

    Business:

    • Gobiz: This service is especially for merchants who want to manage and grow their business.

    News and Entertainment:

    • Gotix: Book movies and events tickets
    • Goplay: Stream movies and web series
    • Gogames: Get gaming tips, top-up gaming credits and watch your favourite gamers
    • Gonews: Read the latest news

    Target Audience of Gojek

    The target audience of Gojek is people between the age group of 18-34 years old who live in urban cities. The company also targets people who are not financially stable by providing them with their digital payment service: Gopay.

    Since Gojek provides a wide variety of services they are able to cater for the needs of a larger audience. Their super app model allows them to connect with different kinds of people from different sectors.

    Business Model of Gojek

    Gojek follows the super app business model where they provide a wide range of services to its users on a single platform. This means that instead of using one app to book movie tickets and another app to send packages they can use Gojek to fulfil both of their demands.

    The super app model provides a more convenient approach and also saves time for the consumers. This business model works really well because nowadays consumers have become impatient and want things as fast as possible.

    The business model of Gojek revolves around three segments: consumers, merchants and drivers.

    Let’s see how the super app works for these three segments:

    Consumers:

    First consumers need to identify what kind of service they want. For example, do they want to book movie tickets, send packages, book a two-wheeler or order food?

    If the customers want to order food online, Gofood is the right option. The second step would be to select their desired food and add it to the cart. Finally, they have to pay the money. After paying the amount consumers will receive the food at their doorstep.

    Merchants:

    Once the food is ordered or any kind of service is requested the merchants will receive the order details in their Gojek app. Once merchants understand the order details they need to start processing the order. In the meantime, the delivery driver is on his way to get the product.

    Merchants have to make sure that they make the product or service as soon as possible. Once the order is ready, the delivery guy takes the product and delivers it to the customer. When the product is handed over to the delivery guy the money is instantly deducted from the merchant’s Gopay wallet.

    (All the transactions on Gojek are majorly done via Gopay)

    Drivers:

    Drivers need to first sign-up with Gojek by providing some basic details like name, address, identity proof, vehicle number, license number and many more.  The internet connection of drivers needs to be really good if they want to receive a large number of orders.

    Drivers can choose from a wide variety of services. They can sign up as the two-wheeler taxi driver, car drivers, delivery guys and much more. To get started they need to turn on the online icon which is present in the Gojek app. Once they turn it on, they will start receiving the orders.

    If a delivery guy is busy delivering products, the app shows him busy and the order is automatically assigned to another driver.

    What Is Unique About Gojek?

    The USP of Gojek is that the company provides 20+ services which users can access from just a single app. To beat its competition the company started using scooters and motorcycles instead of cars to avoid the huge traffic jams. Due to this brilliant idea, the services of Gojek became more premium and hassle-free.

    How Does Gojek Make Money?

    Commission from Consumers:

    Gojek gives a one-stop solution to its consumers for all their demands. They don’t have to install numerous apps to fulfil their needs. Instead with just Gojek, they can access 20+ services. For this convenient and fast service, consumers need to pay a service charge of 10% of the order.

    Commission from Merchants:

    A lot of merchants want to showcase their products and services on Gojek. Due to the huge customer base and popularity of this super app, everyone wants to grow their business and open new streams of revenue. Gojek takes a small commission from the retailers on each order that they get. This commission is automatically deducted from the retailer’s wallet when they hand over the product to the delivery guy.

    Commission from Drivers:

    Drivers and delivery partners also need to pay Gojek a commission of 20% on each order delivered. This is a smart strategy since it encourages drivers to deliver more products in order to gain profit.

    How Did Gojek Destroy Uber?

    In the beginning, when Gojek started its ride-hailing service its biggest competitor was Uber which had already earned its name in the market. Although Uber wasn’t able to capture the market and its newly arrived competitor Gojek grew both its customer base and profit.

    What is one thing that allowed Gojek to beat Uber?

    Gojek was able to beat Uber because the company had studied the local market of Indonesia in detail. The company had understood most of the cities in Indonesia has a huge traffic jam. In this condition, using cars to deliver passengers won’t be a smart decision.

    To avoid traffic jams and speed up their process Gojek started using scooters and motorcycles. This made the transportation service of Gojek much more convenient and hassle-free.  On the other hand, Uber’s business model was purely revolving around cars which made it impossible for the company to grow.

    Another advantage of incorporating scooters and motorcycles in their business model was that it was much cheaper for people to buy two-wheelers than a four-wheeler. This helped Gojek to get a huge amount of drivers.

    After that Gojek transformed itself into a super app which further helped the company to capture the whole market.

    Conclusion

    The business and revenue model of Gojek taught us that we should always understand the target audience’s needs and behavioural patterns. We should also study the local market in great detail. These two things will allow you to build a powerful business model.

    Gojek understood that most of the cities in Indonesia have a lot of traffic congestion. So, when the company started its ride-hailing service it started using scooters and motorcycles instead of cars to avoid traffic jams. This made the company’s services more premium and attractive.

    After that, they started giving a wide variety of services to acquire more customers. Gojek is successful today because they have simplified the customer journey and made their services top-notch.

    Remember, when you provide quality services to the customers your business will automatically grow. You should always try to innovate and aim to make the lives of your customers easier and happier.

    FAQs

    How does Gojek operate?

    Gojek follows a super app business model where they provide a wide range of services like paying bills, booking movie tickets, ordering food, buying groceries, booking a four-wheeler or a two-wheeler taxi and much more on a single platform.  Gojek operates with 3 people in its business model: Consumers, merchants and drivers.

    How does Gojek make profits?

    Gojek earns profits by taking commissions from its consumers, merchants and drivers. Consumers need to pay a service charge of 10% of the order. While the drivers receive a commission of 20% on each order delivered.

    How does Gojek make profits?

    Gojek focuses on bikes and scooters instead of cars to avoid traffic jams and speed up their process.

  • Dunzo Business Model | How Does Dunzo Make Money?

    Assume you’ve got a strong desire for pasta but need to replenish your medication supply. You immediately realize that you need to collect your laundry for a big event. Would it not be wonderful to do everything on a centralized screen? Dunzo is exactly that.

    Dunzo is an on-demand, hyper-local multi-delivery care app. It provides anything to its customers for a modest shipping cost. For example, if you forgot your MacBook at work or some documents at home, it can get them to you on demand.

    Alternatively, if you wish to shop for food from the market or a hoodie from the retail outlet, the multi-delivery services provider will get it for you. It’s worth noting that none of these diners, shops, or retail chains is owned by the firm. Its business strategy is based on shipment.

    Ankur Agarwal, Dalvir Suri, Kaber Biswas, and Mukund Jha co-founded this incredible Bengaluru venture in 2014. They took orders via WhatsApp and received significant attention from early adopters. However, as the company and its clientele grew, they instantly transitioned to an omnichannel framework, securing visibility through a Mobile app, an iOS app, and a web page.

    Business Model of Dunzo
    How Does Dunzo Make Money?
    Dunzo Marketing Plan
    What Is Unique About Dunzo’s Business Model?

    Business Model of Dunzo

    Dunzo is an on-demand distribution network that has revolutionized how folks buy, exchange products, and travel. In today’s market, it’s an example of a two-sided channel. Buyers are on one end of the link, and sellers are on the other. It serves as an eCommerce platform, bringing together buyers and sellers.

    It adheres to a hyperlocal business model, ensuring app progress and longevity. It runs things via a phone app and a webpage. In the hyper-local market, the portal provides on-demand concierge. The firm runs using a data-driven approach that links shipping suppliers with clients in their direct proximity.

    Dunzo App
    Dunzo App

    Clients can even talk with the supplier via the chat room; they send pertinent product photos and interact effectively. The portal gives Dunzo money and a variety of other electronic payment methods. It makes great use of AI. for its clients, assisting them in providing a contented and sleeker interaction when people request it.

    As the market grows stronger, the firm gains traction, rivals arise, and the industry becomes far more competitive. It presently faces competition in the market with well-known brands such as Swiggy and Grofers.

    How Does Dunzo Make Money?

    Dunzo has divided its earnings into 5 different channels.

    • Transaction Fee– It charges a pertinent fee from the alliance shopper order, which can range between 15% and 30%.
    • Shipping Fee– Shipping fees vary from Rs. 10 to Rs. 60, based on location & order value.
    • Uptick cost – Also known as Surge pricing is used when demand in a specific location rises.
    • Service – Repair and maintenance, homecare, and so on.
    • Miscellaneous Bracket– It is known as a #kuchbhi demand, according to Biswas, the creator of Dunzo. The role determines who is in charge of such sections.

    The following are some examples of #kuchbhi requests:

    • Take a 15 seconds clip of my apartment as it is being built to ensure that everything is working perfectly.
    • Please bring my blazer from the apartment.

    Dunzo benefits from a larger consumer snippet because it’s in the Hyper-Local Delivery biz. Its clientele can span from a 65-year-old guy who needs his homeopathy delivered as promised to a 12-year-old youngster who borrows his mate’s classwork notebook.

    Dunzo Marketing Plan

    It experiences numerous challenges in its advertising campaigns. Its main aim is to share awareness of the app’s versatility by publicizing it via varied touchpoints. However, because most biz is done online, it effectively uses its internet site by building a reputation distinctive to its customers.

    Bollywood quotes:

    It employs Bollywood buzzwords and dialogue to pique the interest of the audience. The daily alerts are usually interspersed with beautiful songs or movie titles.

    Promoting through memes:

    It’s a well-known trend follower in memes and adverts. It quickly adapts to the web, and its fresh meme-based promotional tweets quickly become popular.

    Promoting on Social Media:

    Its content is frequently vibrant and synchronized with the logo’s primary green or black colors. On touchscreens, the label forms a powerful interactive world that instills optimism. It prefers Instagram, Twitter, and Facebook. It attempts to disseminate everyday life tweets through the use of their totems, Harri and Dunya. These characters, attired in Dunzo gear, portray Dunzo-thoughts partner’s in everyday situations. The app-based delivery company is on its way to Chennai.

    Last month, the portal launched in Hyderabad. It enables clients to generate a list of dispatch tasks. It’s focused on building brand awareness among its army. The aim is to show the activities and cohesion of the multiple brands as they’re all together in this time of turmoil. It expresses employee personal info and emphasizes the importance of their hard graft to keep things running. Its collaborators’ organizations were also disclosed.

    Hyper-Local Interaction:

    Because it handles hyperlocal stock, it is critical that the urban areas where it renders care are adaptable. It accomplished this by utilizing illustrators as well as modifying actual pictures. The label aspires to capture the heartbeat of the town and to become a factor in society.

    Twitter:

    It relies heavily on Twitter, like any label that provides customer care. With two-way interaction, they can ensure clients feel respected. It has lately become more pertinent than ever, as folks have more queries about shipments during the pandemic. It also aids in the promotion of brands and processes.

    The Ordinary’s Content:

    One of the most striking features of its online interaction is the way they generate content from everyday objects. These are mostly food-themed, which performs well due to the subterfuge and approachability. It helps users in seeing these items in a fresh way.

    Uniformity and Promotions:

    Dunzo was inspired by a popular Instagrammer named ‘Dude with a sign,’ who stayed in crowded locations with signage that discussed specific aspects such as informing people. It was one of the first labels to use the layout in their interaction. It’s since been used repeatedly in their interaction. Its #90sRedun advert evokes nostalgia. It harks back to such classic ads by remaking them with label assimilation, rewriting catchphrases with a flair, and using the heritage of these labels to travel us back to the good old days.

    What Is Unique About Dunzo’s Business Model?

    Though most rivals bring on a slew of suppliers and middlemen and then expect their users to locate a means around the facilities, it’s solely responsible for delivering the order to the consumer’s location.

    Its business plan is very flexible and adapts efficiently. For instance, when they noticed that a huge chunk of their clients was repetitively ascribing the same job, they introduced a repeat-task toggle.

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    Conclusion

    Every startup faces difficulties, and Dunzo was no exception. Initially, the venture had to deal with budget problems, an ineffectual delivery mechanism due to staff taking longer to finish tasks, trouble handling mobile and web apps, and increased costs.

    Dunzo aspires to be India’s hyperlocal Amazon & notable e-commerce hub. It strives to be a Unicorn with $1 billion worth. It intends to enlist vendors across niche spots and communities in 25 Indian cities in order to achieve a lucrative position.

    It intends to navigate international waters using a hyperlocal shipping business strategy in densely populated areas such as Singapore, Dhaka, and New York. It is recreating the notion of a 15-min city by increasing the accessibility and availability of services/goods.

    FAQs

    What is Dunzo’s business model?

    Dunzo follows a hyperlocal business model approach where the customer demands a product using the app and the delivery person delivers it from the nearby store.

    Is Dunzo B2B or B2C?

    Dunzo operates in the B2C on-demand space.

    Who is the CEO of Dunzo?

    Kabeer Biswas is the current CEO of Dunzo.

  • Is Vicco Dying? – Story of Once Most Popular and Loved Brand

    I know your mind has started humming that jingle. Earlier, people used to love singing Vicco’s jingles, just like they did movie songs and we still do that whenever we spot a Vicco product. Such jingles are referred to as classic jingles, and each memorable jingle or music has a fascinating past.

    Its jingle made it the most renowned and well-liked brand in every home. Everyone loved their products, whether it was their lotion or toothpaste. Vicco modified its branding and marketing strategy in light of newly emerging trends. However, the fact that it was a herbal product remained unchanged. Vicco continues to operate given the ongoing competition because of its USP.

    Vicco – History
    Vicco – Marketing strategy
    Vicco – Promotion strategy
    Vicco – Vicco vs Central Excise
    Vicco – The lawsuit’s response
    Vicco – Business expansion and Product Diversification
    Vicco – Awards
    Vicco – Media Presence

    Vicco – History

    Keshav Pendarkar founded Vicco in 1952. In Nagpur, he was running a local ration shop. We all possess high aspirations and are striving to achieve them. We all desire to attain more ambitions in life, and Keshav was no exception. As a result, he relocated to Mumbai with his family and began working for his goal.

    He soon began his business in a modest godown, producing chemical-free teeth cleaning powder for folks of all ages. He devised this strategy since it is something that would be used daily and by anyone. As a result, the possibilities of it being famous were higher, and that’s what prompted him to manufacture a product like this.

    Keshav and his sons practised door-to-door sales because they had no other way to promote their products. Vicco teeth cleaning powder, derived from 18 different medicinal herbs, gained popularity over time, and the Pendharkar family decided to establish their business.

    In 1952, Keshav was thinking about the future and observed that folks were using toothpaste instead of tooth powder to clean their teeth. Keshav requested his son, Gajanan Pendharkar, a pharmacist, to create toothpaste out of the medicinal herbs. So Vicco never used any chemicals in their toothpaste as some kinds of toothpaste had fluoride, which might have posed health issues if swallowed by the user.

    They didn’t want anyone to get sick from using their toothpaste. They eventually received a positive reaction to their products, but Keshav passed away in 1971. Gajanan Pendharkar, his son, continued his father’s business. The company’s turnover was approximately Rs 1 lakh at the time, and Gajanan was the one who transformed it from an ordinary brand to India’s most renowned brand.

    Vicco – Marketing strategy

    Vicco’s skin products have always been yellow, symbolizing the brand’s long-lasting relationship with turmeric and its effects on perfect skin, whilst the logo depicts antiseptic aspects.

    Many domestic and global care products were still making their way into India in that era. Vicco seized this chance to establish a foothold because customers demanded speedy solutions. It launched a product named “Vicco Turmeric” cream that resided in the hearts of youth suffering from acne who couldn’t wait for a long-term cure. It also claimed that this product blocked the absorption of damaging ultra-violet radiation.

    There was no guarantee that it could survive in the market since it was chemical-free and was made just from turmeric and other medicinal herbs. People were concerned that the cream’s yellow tint would turn their faces yellow.

    This issue was solved by requesting the salesperson to test the cream on the cheeks of the merchants and then showing customers the outcomes in a mirror. Now, we know Vicco Turmeric’s marketing adventure has been filled with new ideas.

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    Vicco – Promotion strategy

    The firm opted to use television to reach potential customers. Only Doordarshan was available on television during those days. Gajanan Pendharkar used a distinctive manner of presenting its company. He spoke with the producers of the TV show “Yeh jo Zindagi hai,” which led to Vicco’s commercial being aired during the show’s broadcast.

    It was the first brand to sponsor a television show just so their jingle could be broadcast repeatedly, and this was called “marketing blitzkrieg” meaning “doing your branding on multiple platforms at the same time.”

    Folks used to buy videotapes to see movies during those days, and Vicco transmitted its jingles in local dialects on those tapes as well. Indians residing in other countries bought the tapes, hence more people became aware of the brand.

    The ads claimed that the lotion is good for the skin and elegance, highlighting the therapeutic benefits of turmeric as found in Ayurveda. Vicco Turmeric Skin Cream was marketed as a blend of turmeric’s antibacterial qualities and sandalwood oil’s calming and refreshing effects.

    Aside from promoting a healthy, bright complexion, the commercials also showed ways it could be utilized as a medication to treat cuts and bruises, acne, and burns.

    In the meantime, the firm’s advertisement for Vicco Turmeric WSO Skin Cream focused on the medicinal benefits of turmeric for skincare, while the exclusion of the pricey component of sandalwood oil made it economical perhaps to the general public.

    Although Vicco Turmeric Skin Cream has lost its competitive edge due to the success of its rivals, the firm has been utilizing platforms such as tv and radio to inform the masses about the importance of Indian herbs and their significant uses.

    Vicco has recently introduced skin moisturizers, sunscreens, and oil-based lotions to cope with the present while remaining a subtle but important aspect of our culture.

    Vicco is now attempting to reposition itself as a youth-oriented brand. They recently signed Alia Bhatt as the face of their Vajradanti toothpaste and worked with her on ads.

    Vicco – Vicco vs Central Excise

    Vicco Vajradanti and Vicco Turmeric Skin Cream were not qualified to be categorized as herbal remedies, as stated by the business, and were rather identified as cosmetics by the Central Excise Department in 1978.

    Vicco Labs, not accepting the department’s claims, filed a lawsuit in Civil Court to oppose the allegation. On the 6th of May, 1982, the court ruled in Vicco’s favour, declaring that these goods were “ancient herbal formulations and not cosmetics.”

    When the Excise Department denied the ruling and initiated a lawsuit, the situation became even worse. They took the case to the high court, but the high court too ruled in support of Vicco stating that since it was herbal medicine, no tax could be levied. However, in that period, a tax and central excise reform were introduced, and this new central excise tariff act 1985 was adopted in 1986, and once it was enacted, a second trial was started, this time by central excise on Vicco, and that case lasted several years.

    Finally, in 2007, the verdict of this long legal dispute was announced. The Judge ruled in favour of Vicco and that cosmetic taxes cannot be levied against them, they must be abolished.

    The essence of the story, however, is how a lawsuit prompted the business to communicate and present the brand as ayurvedic rather than cosmetic, which was lauded as one of the smartest approaches in the sector.

    Vicco – The lawsuit’s Response

    Is Vicco’s product Ayurvedic or cosmetic? That was the question at the inception of this judicial dispute. To respond, Vicco explicitly stated in the jingle, “Vicco turmeric, Not cosmetic; Vicco turmeric ayurvedic cream.” Although it is a classic jingle, it was created with the most basic line anyone could imagine. That is why, over time, even the most basic things can become iconic. So try to keep it simple.

    Vicco – Business expansion and Product Diversification

    Did you know that Vicco’s current turnover is over 500 crores? It has built factories in Dombivli, Nagpur, and Goa to expand its business. However, in 1986, Sanjeev Pendharkar understood that his pharmacy diploma would not be enough, so he pursued a management and law course to help the company flourish.

    They began as a small tooth powder firm and have since expanded to include a diverse product portfolio such as Vicco Vajradanti paste, Vicco turmeric cream, Vicco sugar-free paste, Vicco foam base, Vicco turmeric facewash, and so on. The firm exports its goods to 30-40 nations worldwide.

    Vicco – Awards

    • In 1980, the company received an “International trade trophy award”.
    • Vicco was ranked 28th among India’s most trusted brands according to the Brand Trust Report 2012.

    Vicco – Media Presence

    Vicco can also be found on all sorts of digital media. The firm is actively organizing its advertising and promotion activities in this digital era. Besides launching ad campaigns like #NoFilter on Instagram, the firm has been consistently maintaining its social media presence with frequent posts and influencers.

    Vicco Turmeric is a frequent online coach for natural and brighter skin with brief lesson clips thereby placing Ayurveda in the spotlight, developing content to connect with people.

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    Conclusion

    Vicco’s marketing adventure has fostered and revived the spirit of therapeutic remedies and perks in this modern era, by it being the lead promoter of Ayurveda and using herbal supplements in its products. It has proven to be a fighter in the face of severe rivalry from multinational cosmetics companies, and this outlines the brand’s branding and promotion tale.

    I hope you found this story behind the Vicco jingle interesting.

    FAQ

    Is Vicco company closed?

    No, the company still sells its paste, face wash, and other products. The revenue of the company was  Rs 190 Crore in 2021.

    Who is the founder of Vicco?

    Keshav Pendarkar founded Vicco in 1952.

    What is the revenue of Vicco?

    The revenue of Vicco is Rs 190 crore in 2021.

    When was Vicco Turmeric launched?

    Vicco turmeric cream was launched in 1965.