India has an ancient clothing design history and is referred to as a prominent and emerging fashion industry. In ancient times who thought that there would be an industry that would produce an annual revenue of $165 billion? A handful of skillful designers existed before the 1980s, and one of them was Ritu Kumar. Ritu Kumar is known as one of the best fashion designers in India.
She is an Indian Fashion Designer who started her career in a small village in Kolkata with her hand block printing techniques on clothes which amazed people. Ritu Kumar started the Era of Fashion Designing with her amazing designs of Lehengas and Bridal Dresses.
This StartupTalky article explores Ritu Kumar’s success story, including her early life, history, childhood, personal life, education, awards, net worth, and more.
Ritu Kumar – Biography
Name
Ritu Kumar
Birthplace
Amritsar
Born
11 November 1944
Nationality
Indian
Education
Loreto Convent (Shimla), Lady Irwin College in Delhi, Briarcliff College (New York)
Ritu Kumar was born in Amritsar and shifted to Shimla due to the lack of educational opportunities in Amritsar. She studied at a convent school there and got admitted to the Lady Irwin College of Delhi in the late 1960s as a student of art history.
She met her husband Mr Shashi Kumar at this place and got married the same year. Later she went to pursue a scholarship in Art History at Briarcliff college of New York.
Ritu has two sons Amrish and Ashvinkumar. Amrish works with Ritu and is the CEO of Ritukumar’s fashion brand label Ritu Kumar and Ashvin is a film director who has also been nominated for Oscar.
Ritu started her career and family at a very initial stage of her life and is managing all of it very well. Ritu also pursued museology from a college in Delhi to get more knowledge on ethnic fashion and work.
Ritu began her journey in the 1960s, while she was studying museology. She visited a small village Serampore in West Bengal. In that village, she found a small colony of hand-block printers who were out of work and needed financial help and employment. That is when the idea came to start a small enterprise of giving designs that the printers began working on.
These hand-block printers created beautiful designer sarees with their outstanding work. She continuously visited exhibitions and fairs to gain popularity and soon she was noticed for her extraordinary designs in India.
She experienced the rapid changes in India, which were replacing handmade textiles with machine-made plastics. Ritu Kumar created new globally relevant designs where the handmade textile legacy would remain the original emphasis.
Initially, she designed evening clothes and Indian bridal wear, and eventually, after the great success of her designs, Ritu opened stores in different states of India. Now she was at boom and everyone knew Ritu Kumar was a brand.
By making an effort, she went international by opening branches in Paris, London, and New York. In 2002 she launched the “Label” brand in partnership with her younger son Amrish Kumar.
Ritu Kumar with her son Amrish Kumar
Ritu Kumar has 4 brands i.e. “Label” for the modern outfits of girls and women. The second brand under her is “Ri’ which showcases the bridal and lehenga worn by women. The third brand is “Aarke” which is a part of the nightwear section for women. And last but not least “Home” is a brand that sells all the home décor and essential products.
Ritu Kumar is also recognized as her clothes have been worn by famous personalities such as Princess Diana, Priyanka Chopra, Madhuri Dixit Nene, and many more actresses.
The domain ritukumar.com attracted 1,850,126 users in the year 2020. During wedding seasons in India, the company invests in servers as well, to curb excessive website traffic. Digital Impressions has designed and made the website for Ritu.
Ritu Kumar – Designs
Kumar’s designs focus on using natural fabrics and traditional printing and weaving methods. While she blends in some Western elements, she mainly sticks to classic sari designs. Her creations have been worn by many famous people, including Princess Diana, Priyanka Chopra, Deepika Padukone, and Lara Dutta. Kumar’s work showcases timeless elegance, highlighting the beauty of traditional Indian craftsmanship. She is known for creating pieces that reflect both cultural heritage and modern influences.
Ritu Kumar receiving Padma Shree by the Government of India
There is a long list of awards that Ritu Kumar, fashion designer has achieved during her journey in the fashion industry. The long list flows as:
Lifetime achievement award by NIFT
Lifetime achievement award by Kingfisher Group
Outstanding Woman Entrepreneur award by PDHCC
The award of “Chevalier des Arts et des Lettres” was given by the French government
Lifetime achievement award at Kingfisher Fashion Fantasia (2000)
Indira Gandhi Priyadarshini Award
Won the Achievement Award in the year 2012 L’oreal Paris Femina Women’s Awards
Padma Shree by the Government of India (2013)
Conclusion
Ritu Kumar one of the leading fashion designers in India, is a role model and inspiration to the youth who want to pursue a career in the fashion industry. She is a successful female entrepreneur and a live example of Indian women who are not dominated by the men in this society.
Ritu Kumar was the first person to introduce the boutique culture in India. Ritu took the chances and performed outstandingly. She is a true example of a pioneer in the fashion industry thus making a remarkable position in the present era.
FAQs
Who is Ritu Kumar?
Ritu Kumar is a famous fashion designer in India. She is claimed to be the first designer to introduce boutique culture in India and is one of India’s finest fashion designers.
How many stores does Ritu Kumar have?
Ritu Kumar has 93 stores across the country.
Who is the brand ambassador of Ritu Kumar?
Shanaya Kapoor is the brand ambassador of Ritu Kumar.
What is Ritu Kumar education?
Ritu Kumar’s education journey began in Simla, where she attended Loreto Convent due to limited schooling options in Amritsar. She then studied at Lady Irwin College, where she met her husband, Shashi Kumar. Later, she received a scholarship to study Art History at Briarcliff College in New York. After returning to India, she furthered her studies in museology at the Asutosh Museum of Indian Art, University of Calcutta.
What is the revenue of Ritu Kumar?
The annual revenue of Ritu Kumar was over INR 3 billion for 2023.
What is the difference between Ritu Kumar and Label Ritu Kumar?
Ritu Kumar is the name of the designer herself, known for her contributions to traditional Indian fashion. She creates high-end, bespoke clothing using natural fabrics and traditional techniques, focusing on both modern and classic Indian designs.
Label Ritu Kumar, on the other hand, is the brand under which her ready-to-wear collections are sold. It offers stylish, contemporary pieces inspired by Ritu Kumar’s design philosophy but is more accessible compared to her couture collections. The label provides a range of products, from casual wear to festive outfits, blending traditional and modern elements.
Vishal Mega Mart, one of India’s leading value retail chains, has emerged as a dominant player in the affordable retail sector by focusing on providing quality products at competitive prices. With a robust presence across 30 states and union territories, the company has built a reputation for catering to the evolving needs of India’s middle- and lower-middle-income groups. Its extensive product portfolio, ranging from groceries and personal care to apparel and electronics, ensures that customers can find everything they need under one roof. The company’s focus on semi-urban and rural markets has also allowed it to tap into underserved regions, further driving its growth. Recent initiatives, such as piloting a quick commerce model and enhancing its e-commerce platform with two-hour delivery, highlight its commitment to adapting to modern retail trends.
With aggressive expansion plans and a strong emphasis on customer satisfaction through innovative loyalty programs and targeted advertising, Vishal Mega Mart is well-positioned to sustain its leadership in value retail. Its impressive stock market debut underscores investor confidence in its growth trajectory and long-term potential.
This post provides you with information about How Vishal Mega Mart started, its Startup Story, History, Tagline, Logo, Business Model, Funding, Revenue, Competitors, Growth, and more.
With over 400 stores nationwide, it’s a shopping hub that’s hard to miss. What began in 2001 as a small initiative by Ram Chandra Agrawal, offering primarily ready-made clothing, has transformed into a retail giant. Vishal Mega Mart is one of India’s largest retail chains offering a wide range of products, including clothing, groceries, household items, electronics, and more, at affordable prices. It operates as a value-focused hypermarket, targeting middle-income customers. With numerous outlets across India, Vishal Mega Mart aims to provide quality goods at competitive prices, catering to both urban and semi-urban areas.
Vishal Mega Mart – Industry
Market Size
India’s fashion retail sector was valued at a whopping INR 6 trillion in 2022. By 2027, this figure is projected to nearly double, reaching over 11 trillion rupees.
Leading Players
Aditya Birla Fashion & Retail Limited (ABFRL) leads the pack as India’s first billion-dollar fashion retailer. With a vast retail footprint of 11.9 million square feet, it has set the benchmark for large-scale operations in the industry.
Emerging Trends and Challenges
Performance Struggles: Established brands are grappling with inconsistent growth and struggling to maintain their dominance.
Competition from New Entrants: Digitally native brands, designed to cater to evolving consumer preferences, are outpacing traditional players.
Fast Fashion’s Boom: Fast fashion now makes up 60% of mass-market sales, climbing from 56% pre-pandemic, signaling a growing demand for trendy, affordable clothing.
Tier II and III Cities Rising: Organized retail is rapidly expanding into smaller cities, unlocking untapped markets and boosting growth.
Changing Urban Preferences: Urban shoppers are increasingly prioritizing experiences and luxury goods, shifting their spending away from traditional apparel purchases.
Ram Chandra Agarwal is the Chairman & Managing Director of V2 Retail Ltd. He is a trailblazing entrepreneur whose vision and leadership have left an indelible mark on India’s retail landscape. Starting his business journey in 1994 with Vishal Garments in Kolkata, Agarwal laid the foundation for what would become a retail revolution. By 1997, he had established Vishal Retail and in 2001, he took on the role of Chairman and Managing Director, guiding the company through its transformative journey.
Recognized as a pioneer in value retailing, Agarwal introduced the concept to India, reshaping how millions shop. With over 25 years of entrepreneurial experience, he is celebrated for challenging conventional wisdom and spotting untapped opportunities with remarkable agility.
For his groundbreaking contributions, Agarwal has been honored with numerous awards, including recognition from Ernst & Young, underscoring his role as a visionary leader and game-changer in the business world. Under his leadership, V2 Retail Ltd continues to thrive, embodying the innovative spirit he brought to the industry.
Vishal Mega Mart – Startup Story
Ramchandra Aggarwal’s story is one of grit, ambition, and relentless determination. It all started in 1986 when he borrowed money to open a humble photostat shop. While it wasn’t much, it was a beginning. His entrepreneurial journey soon took a turn as he ventured into the clothing business, managing a small shop in Kolkata for 15 years.
Driven by a bigger vision, Ramchandra relocated to Delhi in 2001 to lay the foundation for Vishal Retail. His dream of creating a retail empire took shape and what began as a single store quickly blossomed into Vishal Mega Mart—an iconic name in India’s retail landscape. The company even made its debut on the stock market, signifying a major milestone.
However, success didn’t come without its trials. The 2008 stock market crash brought his business to the brink, plunging him into debt and testing his resilience. Yet, Ramchandra refused to give up. With unwavering determination, he rebuilt the business, transforming it into an INR 1000 crore retail giant.
Ramchandra’s journey, from running a small shop to leading one of India’s largest retail brands, is an inspiring testament to the power of perseverance and vision.
Vishal Mega Mart’s mission is to make aspirations affordable for everyone. By offering an extensive selection of the latest fashion, general merchandise, and grocery items at competitive prices, the brand aims to cater to the diverse needs of its customers. Every product on the shelf reflects a commitment to delivering value without compromising on quality, ensuring that every shopper enjoys a fulfilling and budget-friendly experience.
Vision
Vishal Mega Mart envisions itself as the ultimate destination for quality and value. With a focus on providing customers with a unique shopping experience, the company strives to blend affordability with excellence. Through innovation and an unwavering dedication to customer satisfaction, it aims to redefine retail in India and set new benchmarks in the industry.
Vishal Mega Mart – Name, Tagline and Logo
Vishal Mega Mart Logo
Vishal Mega Mart Tagline: “Making Aspirations Affordable.” Vishal Mega Mart ensures that every shopper can fulfill their needs and desires while enjoying great value for their money. This promise has made it a trusted destination for millions across India.
Vishal Mega Mart – Business Model
Vishal Mega Mart thrives on a discount retail model, offering quality products at low prices by purchasing in bulk and passing on the savings to customers. This approach focuses on high-volume sales and affordability, making it a go-to destination for budget-conscious shoppers. Here are the key elements of its business model:
Diverse Product Range: Catering to a variety of needs, Vishal Mega Mart offers everything from groceries and personal care products to clothing, home essentials, and electronics. This one-stop-shop concept ensures convenience for customers by fulfilling multiple requirements under one roof.
Private Label Strategy: The retail chain manufactures and sells its own private-label brands exclusively in its stores. These products are priced lower than national brands, helping customers save money while boosting the company’s profit margins.
Focus on Non-Metro Markets: A significant part of Vishal Mega Mart’s success lies in targeting smaller cities and rural areas. By tapping into the increasing purchasing power of these regions, the brand has established itself as a key player in underserved markets.
Franchise and Ownership Model: Vishal Mega Mart operates through a mix of company-owned and franchise stores. This hybrid model allows for rapid expansion while minimizing capital investment, enabling the brand to grow its footprint efficiently across India.
With over half of its revenue coming from general merchandise, Vishal Mega Mart’s business strategy combines affordability, variety, and accessibility, ensuring its strong presence in the competitive retail market.
Vishal Mega Mart – Revenue Model
Vishal Mega Mart stands out in the retail sector due to its focus on high-margin segments, with general merchandise (GM) and apparel contributing approximately 72.5% of its total sales. This focus contrasts sharply with competitors like Avenue Supermart, which derives only 23.5% of revenue from these categories.
The emphasis on general merchandise and apparel works to Vishal Mega Mart’s advantage, as these segments typically deliver higher profit margins compared to groceries, food, and other fast-moving consumer goods (FMCG). This strategic revenue mix not only enhances the company’s profitability but also positions it well for long-term growth. By capitalizing on these high-margin categories, Vishal Mega Mart can maintain a competitive edge and drive future success in an increasingly crowded retail market.
Quick commerce is disrupting the retail landscape, fueled by the demand for instant delivery and convenience. Platforms like Zomato and Swiggy Instamart are expanding aggressively, introducing services such as large-order deliveries, white goods, and deep discounts. While Vishal Mega Mart’s reliance on in-house brands and high-margin items like apparel provides a buffer, the company must closely monitor this sector to adapt and stay competitive as consumer preferences shift rapidly toward speed-driven shopping experiences.
Slowing Sales Growth in Modern Trade
The growth of modern trade sales in groceries, personal products, and home care items has slowed significantly, marking a four-year low. This decline is attributed to a shift in consumer behavior toward online channels, especially quick commerce, and the closure of hundreds of stores by retailers aiming to boost profitability. With modern trade sales growing only 3.2% in July-August compared to 24% the previous year, Vishal Mega Mart faces pressure to navigate this challenging environment while maintaining its growth trajectory.
Balancing Traditional and Evolving Models
While quick commerce poses a significant challenge, Vishal Mega Mart operates on a unique model focused on affordability and high-margin products. This model may shield it from the immediate threats of quick commerce; however, the company must ensure it evolves in tandem with market trends. Striking the right balance between its traditional strengths and the need for innovation will be critical to sustaining its leadership position in the competitive retail space.
Vishal Mega Mart – Growth
Vishal Mega Mart has steadily grown into one of India’s leading retail chains, driven by strategic expansions, value-driven offerings, and a strong focus on affordability.
Fiscal Year
Operating Revenue
Total Expenses
Profit/Loss
FY22
INR 7586 crore
INR 7155 crore
INR 431 crore
FY23
INR 7618.7 crore
INR 7188.36 crore
INR 321.27 crore
FY24
INR 8911.9 crore
INR 8324 crore
INR 461.90 crore
Vishal Mega Mart Financials
In FY22, the company reported an operating revenue of INR 7,586 crore, total expenses of INR 7,155 crore, and a profit of INR 431 crore. In FY23, revenue slightly increased to INR 7,618.7 crore, with expenses rising to INR 7,188.36 crore, resulting in a reduced profit of INR 321.27 crore. By FY24, revenue grew significantly to INR 8,911.9 crore, while expenses reached INR 8,324 crore, leading to a profit of INR 461.90 crore.
Vishal Mega Mart – Advertisements and Social Media Campaigns
Vishal Mega Mart – Advertising Strategy
Advertising Strategy
Vishal Mega Mart (VMMG) places significant emphasis on advertising across multiple platforms to enhance brand visibility and customer engagement:
Print Media: Long-term advertisements in newspapers such as those under BCCL (Times Group) are utilized. This includes a five-year agreement covering print publications and other media outlets like the Internet, radio, and television.
Television: Campaigns featuring Tina Parekh aim to reach a broad audience.
Outdoor Advertising: Billboards and roadside advertisements enhance visibility in strategic locations.
Agency Collaboration: Cheil India has been engaged in integrated advertising solutions, offering expertise in creative, media, data, activation, and retail strategies.
Promotional Activities
Vishal Mega Mart employs a robust category management system (VRPL) to optimize promotions and ensure customer satisfaction:
Weekly Promotions: Regular promotional schemes help drive foot traffic and boost sales.
Slow Mover Strategy: Special promotional plans are created to improve sales of slow-moving inventory.
Store Layout and Visual Merchandising: The store layout, product positioning, and merchandise displays are strategically designed to attract customers and improve the shopping experience.
Co-Branded Card
In collaboration with SBI Cards & Payment Services Private Limited, Vishal Mega Mart introduced a co-branded card to enhance customer loyalty. Key features include:
An INR 250 discount voucher upon signing up
Reward points for every INR 100 spent
Sales Promotion Techniques
Vishal Mega Mart uses various promotional strategies to appeal to value-conscious consumers:
Buy-One-Get-One (BOGO): Offers and combo packs are frequently employed to boost sales.
Psychological Discounting: Pricing items at INR 99 or INR 49 influences customer perception of affordability.
Special Event Pricing: Discounts and special deals are rolled out during festivals like Diwali, Christmas, and New Year.
E-Commerce
Vishal Mega Mart’s eCommerce platform offers added convenience with features such as:
Two-hour delivery service
Flexible time slots to accommodate customer preferences
This multifaceted approach ensures Vishal Mega Mart remains competitive and relevant in the dynamic retail landscape.
Vishal Mega Mart – Awards and Achievements
Vishal Mega Mart has consistently earned accolades for its innovative loyalty programs and commitment to societal change, showcasing its excellence in the retail industry.
International Loyalty Awards
2024: Won the “Best Loyalty Programme of the Year – Food Retail and Non-Food Retail” category.
2023: Named the “Regional Winner Asia,” covering the Indian subcontinent and regions to the east.
Singapore’s Loyalty and Engagement Awards (2023)
Secured Gold in the category “Best Loyalty Strategy – Retail,” highlighting its customer engagement excellence.
Jagran Achiever Awards
Recognized for “Excellence in Value Retail – Bringing Societal Change through Advertising,” reflecting its impact on community welfare and value-driven retail strategies.
NCPDEP – Mindtree Hellen Keller Award (2020)
Honored for its efforts in creating an inclusive environment, showcasing a strong commitment to diversity and social responsibility.
Vishal Mega Mart – Competitors
Vishal Mega Mart faces competition from retailers that cater to similar value-conscious customers in India’s retail market, like the following:
Store Expansion: Vishal Mega Mart is aggressively expanding its footprint, with plans to add 80–100 stores annually. While already present in 30 states and union territories, the company aims to deepen its presence in Tamil Nadu, Gujarat, and Maharashtra.
Quick Commerce: The company is piloting a quick commerce initiative within a 7–10 kilometer radius of its stores. Customers can log into the Vishal Mega Mart app to view and purchase items directly from the inventory of their nearest store.
Affordable Retail: Catering to India’s middle- and lower-middle-income groups, Vishal Mega Mart emphasizes affordability by aligning its product offerings with consumer aspirations and leveraging its private-label brands to meet market demands effectively.
Stock Market Debut: Vishal Mega Mart made a stellar debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18, 2024, with shares listing at INR 110 on the BSE—a 41% premium to the issue price of INR 78—and at INR 104 on the NSE. The company reported a profit of INR 4.6 billion ($54 million) on revenue of INR 89.1 billion for the fiscal year ending March 2024.
FAQs
What is Vishal Mega Mart?
Vishal Mega Mart is one of India’s largest retail chains offering a wide range of products, including clothing, groceries, household items, electronics, and more, at affordable prices.
Who is the founder of Vishal Mega Mart?
Ram Chandra Agarwal founded Vishal Mega Mart in 2001.
Who are the main competitors of Vishal Mega Mart?
The main competitors of Vishal Mega Mart include Reliance Retail, DMart, Trent, and others.
What was the revenue of Vishal Mega Mart in 2024?
Vishal Mega Mart earned an operating revenue of INR 8912 crore in 2024 at the profit of INR 462 crore.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Chappers.
Maharashtra has a rich and varied arts heritage. Kolhapuri chappals are one of the most popular hand-made crafts from locally sourced leathers. It has its origin in the Kolhapur town of Maharashtra. Kolhapuri chappals are made from leather using only natural ingredients. They are the best example of ethnic and traditional fashion footwear that are eco-friendly and handcrafted. Startups are taking initiatives with their innovative approach to preserving the ancient craft traditions of India and supporting Indian craftsmanship. Chappers is one of the brands that is reviving craftsmanship in India. They started with Kolhapuri chappal and now bringing a revolution in footwear fashion, especially for men.
Read the success story of Chappers, its founder, business model, growth, and the challenges it faced in the journey.
Chappers is a men-focused brand. They make footwear for women too but there are bigger issues to solve when it comes to men’s footwear. Chappers aims to solve the following problems in the Indian footwear industry:
Men are taught not to wear good colours. The industry hence makes only black, brown, and grey for them. Those who want to wear colours do not have options.
Custom footwear is often very expensive and unreliable. they want to change that. They give men brilliant quality custom footwear at the right price.
Mass customization would be the norm in a few years. They want to be the brand that revolutionizes the footwear industry.
Footwear and technology usually never go hand in hand. The Indian footwear industry is very unorganized and needs disruption. They have built India’s first virtual customization software where the customer will be able to customize the footwear on large touch screens first, check if it suits their taste, and then place an order for it. They aim to home deliver a custom pair of footwear within 72 hours.
This industry is heavily reliant on inventory. Retailers have to stock up huge number of styles only to know that only a few of them work. Later they have to offer heavy discounts on styles that don’t work. With our model, our franchises will keep only bestsellers in stock and the rest will be custom-made. Since the lead time will be just 72 hours, the customer won’t mind waiting. Plus, the price of the in-stock designs and the custom product will be the same, adding to the value.
Chappers – Founder and Team
Harshwardhan Patwardhan – Chappers Founder
Harshwardhan Patwardhan is the founder of Chapppers. He has completed his MSC in management from the University of Nottingham.
Currently, they are a team of 25 people including a sales team, operations team, accounts team, and a team of expert craftsmen. Each of them has the vision to make Chappers the best footwear brand India has ever seen.
Chappers – The Idea and Startup Story
Chappers initially started with a vision to take the Kolhapuri chappal global. Harshwardhan first came across Kolhapuri chappals on his first traditional day in college. His brother gave him ancient-looking chappals to wear under his kurta and he fell in love with them. Since then, there hasn’t been a day that he has not worn a Kolhapuri. But it had certain negatives. It was hard, slippery, and available only in the traditional brown colour. He started wondering if he could change these things. Would people in Europe/Latin America wear this chappal if he worked on the negatives? He started researching and working with different materials and that’s when Chappers was incepted.
Chappers – Name and Logo
Chappers Logo
Before the founder even started finding a name for the brand, people had started placing orders, as they found his work interesting and wanted cool-looking-new-age Kolhapuris. He had booked a stall at a flea market in Phoenix Market City, Pune and they asked by what name should they reserve the stall. That night, he chalked out close to 200 names but only 1 stuck. He took “Chapp” from “Chappals” and since I was making them comfortable and in a way westernizing the chappal, he added “ers” to it like Slipp”ers” or Loaf”ers”. He joined them together and it made a very short and sweet brand name “Chappers”. Since the name was coined by Harshwardhan, I had no issues in trademarking and copyrighting it too!
He asked one of his friends to develop a logo for the startup, based on the concept of taking Kolhapuris global. So, he actually drew a Kolhapuri and fit the font such that “C” was the heel and “S” was the thumb! And he loved it!
Chappers – Products
Chappers have now expanded into many different products. After a point the founder realized that his interest lies not only in taking the Kolhapuri global, but also the Indian craftsmanship. They want to start with revolutionizing the Indian footwear industry completely. They design great products and enable the customers to customize it in their own colors. They let them add accessories, their initials on the shoes and try to do all of this in a very reliable way and at the right price. Now, they don’t restrict themselves in terms of the nationality of the products origin or the century it was first made in. They want to build great, innovative products and want people to wear them in their own favorite colors. Imagine if a brand starts giving custom footwear at the right price and in a lead time as low as 2 days, why does the footwear industry need crores and crores of inventory?
Chappers – Business Model
Chappers’ business model is very simple. It is a very complicated model to understand for an outsider. But for the customer, it is very simple.
The customer walks into the store/Kiosk and checks their shoe size by trying on their sizing samples. He then sees two sections – RTW (ready to wear) and customization. If he wants to pick up a pair right away, they have a selection of 25-30 bestsellers in stock at all their stores. But, if he has 2-3 days at hand, he can take a look at our customization section. There, he will see numerous designs in unimaginable colours and material variety. He can touch and feel the product, select the design he likes and then move on to a big touch screen. On the touch screen, through their virtual customization platform, he will be able to change, colours, and materials, add accessories to the design that he selected, and then see how the product looks on his feet with the help of an iPad. He can then place an order. If not, he can just enter his mobile number and the shoe that he designed will be sent on WhatsApp to him for future reference. If he does place the order, the full customized product will reach his home in the next 2-3 working days.
Now that he knows his size and fit, he can even customize any design on Chappers’ website and place the order from the comfort of his home.
Their policy is to never undercharge or overcharge the customer. Whenever they develop a product, their aim is to provide the maximum value to the customer. They never are cheap nor expensive, they just aim to sell their products at the “right price”.
For example, if a customer looks at a product and feels that it’s worth Rs.5000, then that product should be priced at Rs.4999. They pay their craftsmen very well. They want to ensure both sides of the supply chain are equally happy with them. The team of craftsmen and employees should be equally happy, hence they do not believe in discount marketing. They make good quality products and expect the right price for them.
Chappers – Customer Acquisition
This bit came easy for them. They made the first 100 samples and booked a flea market stall. They sold 90 out of the 100 pairs on the first day!!
After the first flea market experience, their confidence soared. They started believing in the product even more. But, where they can go to sell every day? They couldn’t get a stall. So, they built a basic website and social media pages. First, the orders started coming in through friends and family and then through their friends and family and the circle grew. Since Pune is a small community-like city. Word of mouth spread fast. Slowly they started getting online orders too. But people always asked one question – where can they come and try the footwear? So, they opened their first store on Karve road, Pune. Their stores are very uniquely designed. Big wooden chair, embroidered carpets, and footwear handled with gloves. Not every footwear store does that. Hence, they immediately got a good response for the store too.
Chappers – Hiring Culture
In Chappers, your degree does not count. Whenever they are interviewing, they keep the CV aside and talk to the candidate. They want all their team members to be problem solvers. Good manners and extremely high morals are definitely needed if you want to be a part of the team. Patriotism is also a must if you are to qualify as a team member. People who love India and want to do something for the country have a different outlook towards life, Chappers team wants to work with such people.
Chappers – Challenges Faced
When Harshwardhan Patwardhan decided to explore the opportunity, he had no background in footwear or business in the leather industry or retail industry. He is from a transport background as his family is into people and goods transport. He had to learn from scratch.
Second, the footwear and leather industry in India is very unorganized. There are still many vendors who are not on Google. Additionally, nobody wants to work with a person who is just starting out, has no industry experience, and has no money. From vendors to employees, the founder had rejection all around.
Duplication has also been one of the major challenges. As they started becoming successful, small factories started copying their products and selling them cheaper. They had to develop a lot of IP surrounding their logo to safeguard themselves from this duplication mafia.
The INR 2000 and above market is dominated by foreign brands. Unfortunately, we think that foreign brands deserve higher MRPs and our own Indian brands don’t. People have said things like “Indian brand hai na to 1000 tak price thik hai”. Our people take pride in wearing foreign brands and undervaluing Indian brands. Building a footwear brand that does not have a single product priced under Rs.2000 is definitely a tough path under current circumstances. But they believe in India, they believe in their products and they believe in the future. This keeps them going.
Chappers – Growth
Right now, they have four stores in Pune and they deliver across India when ordered online. They have even delivered orders to 27 foreign countries. Chappers’ revenue is around 2.5 crores and they have approximately 27,000 customers to date. Their returning customer rate is 40% which is pretty high for a footwear brand.
Chappers – Funding
Fortunately, till now they have always been profitable and self-sufficient. Even during the pandemic, they had to modify a lot of systems and cost structures but they strived and remained profitable. They will start looking for funding this year as they think now their business model is well evolved and they are aware of what has worked for them and what has not. The new model can truly revolutionize the entire footwear industry and they will come out on top. If they stick to the plan and keep capturing their goals, they think they can be the Zomato of footwear.
Chappers – Competitors
Their perspective and attitude are a lot different from other local brands. They do not believe in the fact that they can sell whatever they make. They think that the customer is always aware of the latest trends and just needs some help in imagining stuff. Its job as a brand is to help its customers imagine newer things and they do so by giving them a platform to play around on. They can play around and find out what colours they like the most, and which designs suit them the most. Usually, retailers dictate what you should wear. They tell customers why they can’t wear a yellow chappal or a red shoe. They do so because they don’t have a yellow chappal or a red shoe to sell. But they can make a yellow chappal, a red shoe, and a gold sandal!! So, for the initial few years, competitors never took Chappers seriously, only when they realized that people actually want to wear these colours, did they start thinking about developing such products. They want to make competition irrelevant with their new model. Can established footwear brands give each customer a custom pair? The answer is they cannot. Because they have huge factories to feed. They love making 1 lakh black shoes. Chappers don’t.
They are currently trying out a kiosk franchise model. They have Kiosks at Pune’s Pavilion mall and at Seasons mall Magarpatta. A kiosk franchise would give a better return on investment to the franchise owner as the expenses are much lower. Plus, since the majority of the orders are custom-made, its inventory requirement automatically comes down. If there’s a Chappers Kiosk in all malls of India, they will get thousands of custom orders every day. Imagine what that will do to brands that say no to customization. They think they are in a world where people buy ready products just because there’s no choice. If they have a choice at the right price, very few people will buy ready products. They want to create an environment in which other brands want to join. This will be true change.
Chappers – Tools Used in the Company
Technology is their backbone. They prefer to use easily readily available software around difficult business systems. That somehow makes the job easy. Of course, they have developed their proprietary Virtual Customization software ourselves. That they would always keep with them as it’s one of the key features of their new business model. They are continuously working on it and want to ensure they constantly keep adding new colors, materials, and products for their customers.
Chappers – Advice from Founder
Harshwardhan Patwardhan, Founder of Chappers:
I think starting early is essential. The amount of learning I got from starting Chappers, no university or degree can give me. Instead, I would encourage the next generation to go explore the world, take a one-way ticket and go on a solo trip to advanced countries. Once we get that exposure, we always get a different perspective. We always try to improve our country that way and I think that’s the most important job any human can do. I would skip the college degrees and I would take up internships in global companies. I would be able to absorb their culture and their know-how. That would take me a million steps ahead of the game.
I would also start reading earlier. I hated reading my entire childhood, partly because I was never good at studies, but partly also because I never tried enough. I think reading takes you in minds of the people you cannot physically reach. One of the first books I completed was “Screw it lets do it” by Sir Richard Branson. Sir Richard has been my idol since then and I have truly tried living his principles. I have failed at many of them, but while trying them out, I became a better person. Books are priceless.
FAQs
When was Chappers founded?
Chappers was founded in 2014 in Pune.
Who is the owner of Chappers?
Harshwardhan Patwardhan is the founder of Chappers.
What is Chappers famous for?
Chappers is a Men-focussed Indian footwear brand popular for Kolhapuri Chappals.
There are still several girls or women present on this planet who feel too hesitant to talk about lingerie with a salesman while shopping, and probably it ends up offering a bizarre feeling! Perhaps you, the one reading this article, also might have felt, experienced or maybe gone through this circumstance various times and we all females know well what it feels like. To remove this feeling or situation, Clovia came into existence.
Clovia is currently one of the leading online lingerie portals in India where individuals can get budget-friendly products for themselves. Lingerie is such a thing that all females need regularly and is also quite an essential part of every female’s daily life. Not only comfort but also Clovia products have got the responsibility of boosting confidence and presently several females do consider and recommend Clovia to undoubtedly be the best and be trusted by. Read the Clovia Success Story below!
Clovia is a current lingerie brand present in India! Not only simple or daily to use lingerie Clovia designs, but also the team has got fashion lingerie to showcase to its consumers. Decent fabrics, good quality satins and exotic laces are used to design the products and hence, presently, it is selected to be one of the top lingerie shopping brands in the country of India.
On Sunday, 20th March 2022, The retail giant Reliance has acquired majority of stakes in Purple Panda Fashions Pvt Ltd. – The owner of Clovia. Reliance Retail Ventures Ltd. has owned 89% stakes in Clovia.
Clovia – Industry
In 2020, the e-commerce industry of India was the 8th largest market chasing France and a stance forward to Canada. In 2021, the Indian e-commerce market grew by 5% with an anticipated sales of US$ 56.6 billion.
From 2017 to 2020, India’s revenue generation jumped from around US$ 39 billion to thrice the amount and during that period the rate was highest in the entire globe.
Clovia – Founders and Team
The founders of the company Clovia are Neha Kant, Pankaj Vermani and Suman Chowdhury.
Neha Kant
Neha Kant – Clovia Founder
Neha Kant is the founder and the director of Clovia Lingerie! She has been working over here since the beginning and it is 9 years and 7 months now. Neha began her career as an Account Executive at FCB ULKA and then she changed companies and worked at India Today and Smile Interactive Technologies Group. At both places, she served as a marketing head. She is a Mathematics graduate at Delhi University and completed her course in Business Management from the FORE School of Management, New Delhi, India.
Pankaj Vermani
Pankaj Vermani – Clovia Founder
Pankaj Vermani is the founder of Clovia and the present CEO of the renowned lingerie company of India. He began his career as an Engineering Intern at GlobalLogic and then changed positions, founded companies, and also served various companies. He completed his education at the Indian Institute of Technology, Delhi.
Suman Chowdhury
Suman Chowdhury is the co-founder and the COO at Clovia! He began his journey as a senior designer and then as the others eventually started changing his positions in various companies. Suman worked at Lee Cooper as a Product Manager and many more. He is an ex-student of Kendriya Vidyalaya and Kolkata University. Also, he has got an Advanced Diploma in Fashion Designing from the National Institute of Fashion Design.
Clovia – Startup Story
Clovia is a lingerie shopping brand and 10 years back, the word lingerie was not so common in India as it is today! As mentioned above, women felt quite uncomfortable shopping from the normal departmental stores present in the marketplace and this is what Neha thought of changing.
Her travel to Europe made her mind open that India is lagging in terms of lingerie and new products are to be launched. Also, since many felt shy to talk to the salesmen in the normal stores about lingerie and stuff she just tried to change the stereotype and make women feel more enthusiastic in every aspect. This is where Clovia stepped into the scenario with numerous thoughts and sought to rise high.
Clovia – Mission and Vision
The mission of the company Clovia is devoted towards being a woman’s go-to and the favourite online fate for all the everyday lingerie requirements! Clovia has got a nice variety of undergarments and night wears to offer to its consumers both stylish and superbly comfortable.
Not only this but also Clovia has got sexy and muggy bridal lingerie sets for the newlywed brides, honeymoon lingerie sets for beaches and so on. The vision is to see the demand for Clovia growing every passing day.
The tagline of the company Clovia is, ‘offering joy’. The actual goal is to aid the consumers with such comfy and exotic products that all the females can find both happiness and joy in every little way they can.
Clovia – Business Model
The business model is quite simple over here! It is an online e-commerce brand just like other e-commerce giants such as Flipkart, Amazon, etc. According to each one’s specific choices, consumers do buy from their web portals. Reports say that products are easy to stock and because of several sorts of designs, Clovia has gained both love and popularity.
Clovia – Revenue Model
Clovia is earning from what it is selling online. Its variety is the reason behind its popularity! Online is considered to be a better space now rather than that of the offline marketplace and hence it is doing well if talking in terms of generating revenue. Apart from this, through promotions both digital and print it is also earning money.
Exclusive deals are shared through emails with the existing consumers and this helps Clovia to distract people and earn automatically. Hence, sharing is beneficial!
Clovia – Funding
Clovia has raised a total funding of $ 22.7 Million.
Date
Stage
Amount
Investors
December 2020
Series C
$4 Million
Golden Birch Investments, She Capital
January 2019
Series C
$10 Million
AT Capital
April 2017
Series B
$4 Million
Ravi Dhariwal, Singularity Ventures
June 2015
Series A
$4.7 Million
IvyCap Ventures
Clovia – Growth
Clovia witnessed good growth during the pandemic period. Since people have been working from home for the last two years, individuals thought of buying the essentials online and more specifically lingerie is a daily need just like food and water. The lingerie market is known to be growing extensively by 2025.
Clovia saw decent growth last year and is currently claiming to generate double this year.
Clovia – Online and Social Media Presence
Clovia has got a really good reach on today’s planet because it has become a trendsetter in both hearts and minds of the women’s community. It has got social media profiles on LinkedIn and Instagram respectively. One is professional and the other one is social.
Both are quite famous on today’s date and not only over here but also in various web portals like Pitchbook, Exchange4media and many other websites Clovia has got a say of it correspondingly.
Clovia – Advertisements and Social Media Campaigns
Clovia recently campaigned featuring its employees and thought about socially creating ideas of elegance standards and promoting body positivity. This is the idea because Clovia is a lingerie brand and it especially concentrates on nightwear, swimwear and many more. The name of the recent campaign is, ‘Nothing but Real’.
Here at this advertising campaign, the nightwear was showcased by the members themselves.
Clovia – Competitors
The competitors of the company are Triumph, Jockey, and Enamor.
Triumph
Triumph is one of the biggest rivals of the company Clovia! It is headquartered in Mumbai, Maharashtra, India and was founded in 1886. Triumph works in the Apparel Retail Industry.
Jockey
Jockey is also one of the top competitors of Clovia. It is headquartered in Kenosha, Wisconsin and was founded in 1876. Jockey competes in the same Apparel Retail Industry.
Enamor
Enamor is a top competitor of Clovia. It is headquartered in Bengaluru, Karnataka, India and was founded in 2001. Enamor works in the Apparel, Accessories and Fashion Sector.
Clovia – Future Plans
Clovia is planning towards entering the overseas market by next year! It is willing to open stores in the markets of Indonesia and Malaysia to enhance its international network. Since the brand Clovia did see good growth it is willing for an expansion soon.
FAQs
When was Clovia founded?
Clovia was founded in 2012.
Who is the founder of Clovia?
Neha Kant, Pankaj Vermani and Suman Chowdhury are the founders of Clovia.
Is Clovia an Indian brand?
Yes, Clovia is an Indian brand based in Noida, U.P.
Fashion is such a powerful word, it can change the world. If not change the world it can at least make some people rich. When it comes to fashion, the world follows the crowd. If some trend gets enough people hooked, then the trend has the chance of becoming a fashion trend. Which are longer and wider terms in magnitude and effects. There can be many sorts of fashion, each sort of fashion has the potential to influence a large number of people.
This trait of the fashion industry makes it one of the hottest industries out there. This is the reason fashion houses and fashion retails are always out there, innovating and figuring out something that will hopefully become a trend and a fashion statement. In the modern world, the apocalyptic 21st century, the internet and technology are the lead workers in almost every industry.
Fashion is also run by these workers’ hands. India’s topmost online fashion delivery partner Myntra is also doing the same. They are working on recommendation systems at a large scale. Like in-session intent, explore-exploit algorithms diversity, deep personalisation, identifying fashion trends, etc. This article talks about this topic at the heart. First, let us see how the world of fashion operates and how it is changing with the help of AI and big data.
Fashion, by definition, is anything that someone wears to make a style statement. The definition might look easy in theory but in practice, the word ‘fashion’ has a lot of potentials. This can take any shape and size, and this can make truckloads of money if it is directed in a good right direction.
The cycle of fashion mostly starts when people observe some influential person making a style statement. Then they look out for the same thing, to make the same style statement. Take the case of Luxottica. The famous luxury eyewear group enjoys a monopoly in the eyewear industry. It all started when the brand pulled in some actors and designers to promote luxury frames. This was an instant hit and the beginning of huge cash flows.
By now, you must have understood that the world of fashion is unique and full of potential. There are many sorts of fashion, they can be categorised into many categories. Then comes the more famous sort of fashion line, fast fashion. As the name suggests, it is fast in nature. It comes quickly and goes out of fashion quickly. Zara is probably the best example of fast-fashion retail.
The next and the newest form of fashion is all new. Fashion when mixed with data analytics becomes a whole new domain of work. When fashion is added with the benefits of data and technology, it becomes wider. The reach now covers much more area than before and so do the profits that occur. This is what fashion companies like Myntra are doing. Let us see Myntra’s data science and the work that goes behind the curtains/website.
Myntra – The Fashion Retail
Myntra is a popular name among fashion enthusiasts. By ‘fashion enthusiasts’ we mean quite everyone. Everyone wants to make a style statement and everyone wants to stand out. In this sort of environment, Myntra is a perfect destination for these people. It is a place that caters to a lot of demands in a single and simple setting. A single stop for all things fashion.
As the world grows and becomes more and more hyperconnected, and people want more personalised stuff, Myntra is changing its model too. It is not just a fashion company now, it is adding data and technology to its structure. With the aid of data technology, the brand can put itself as a more personalised fashion retail for its consumers. Which if done right, can lead to great success for the brand.
Right, now the fashion company deals in all sorts of fashion products. As time passes, it is also trying to enter the world of technology of personalisations. Personalisations like large scale recommendation systems can add a lot of brand value to the company. It is working in this direction with all its might, to get to a position where it is easy for consumers to get products that meet their personal demands.
Just like Netflix which used user data to give out personal recommendations for movies and series. In the next paragraph, we will read about the efforts that the company is trying to get deep into data technology.
How Myntra Uses Data Science to Provide Unparalleled Customer Experience?
If you say that Myntra is fashion retail, you are right but not entirely. Myntra is more of a data science company that works on data to provide personalisations to its customers. It is, in fact, one of the biggest and most successful data science teams in the country. The reason is that Myntra is hugely investing in its data science wing, to improve the overall experience.
The data science team is the reason, on which the company is making all its newfound progress. It is in fact the reason which even helps big service companies like Netflix to grow on customer experience. The majority of the features that the fashion company now provides are AB tested. These solutions that provide great personalisations were never possible in the past but they are now the nearest possibility. Thanks to data tech.
At the core of Myntra, the company wants to create an exceptional consumer interface that is so useful that people will become loyal to the brand. The data science team at the fashion retail has solutions for that goal problem. They want to create a unique model at every touchpoint where the user reaches for his/her needs. These models/differentiators will help increase the consumer experience and will generate the desired revenue for the retail.
The team delivers many data science solutions, which are deployed at various customer touch points every quarter. “The models create significant revenue and customer experience impact, alongside providing real-time, near-real-time, and offline solutions with varying latency requirements,” explained Hrishikesh Vidyadhar Ganu, head of data science at Myntra.
There are many domains in which the company is trying to enter with the help of technology aids. It is trying to work on large scale recommendations which will help find people that they are not even looking for. That is products that they might like. The same way as Netflix recommends shows. It is a result of data collection of users and making sense of the data. This makes the user predictable. Thus, the company servers can better predict what the user is going to like in future. This feat is achieved through algorithms, deep personalisation which can identify fashion trends and can suggest more relatable products.
Myntra also is looking forward to building a trying feature that can help in identifying the perfect fit for a customer. Say, a tryout feature. Just like Lenskart does on its website, you can go and try out the glasses with a virtual try-on feature. This feature, to virtually try anything that you like, online is an absolute game-changer. This, not just adds to the overall customer experience but also eases the work of choice for consumers. Myntra can do that too, they can add a virtual try out feature for clothing items or personal beauty essentials etceteras.
Fashion focussed companies like Myntra do a lot of work on their supply chain management. They try to optimise the flow of work in a manner that is the least resistive and most efficient. With help of user data and data technology, they can also leverage their large scale problems of shipping and utilisations.
“We also leverage computer vision extensively for cataloguing, inbound QC, garment measurements, etc.,” said Hrishikesh Ganu who is the director of data science at Myntra.
Another important thing for fashion retail is the pricing models. If the pricing is not right, it does not matter how good the impression the product makes, consumers will be turned off.
With data that Myntra collects and makes sense of, they can let the tech work for them. They can even optimise prices for different customers and give others some coupons that can act as a discount. An optimised pricing strategy will help get more traffic to the website and more conversions of users.
In a recent interview, the Myntra data science team mentioned that they are currently hiring for data science roles. The company has vacant places across many roles in the field of data science.
How Data Plays an Important Role in Improving Customer Experience at Myntra?
Myntra takes the data part very seriously. Data is DNA at the fashion retail. They know this thing that they will receive what they give. If they make sense of the data collected in a nice manner, they will go ahead in utilising and optimising the resources according to customer preferences. This can act as a great differentiator in many aspects.
With trial and error, Myntra has been able to make the walls of its data work strong. The engineering and data insights that they have gathered over the past is very useful in the future. They can use data science to evolve more in the future as they provide the best-personalised fashion to every customer. They will probably be one of the firsts to do something like this in the Indian fashion segment.
They continuously are involved in data scoring and structuring. Every algorithm that they decide on is AB tested with keeping real users in mind. The world of E-commerce revolves around being more and more consumer-centric. This is why companies like Myntra invest a lot of time and energy resources in this field. This enables them to get a better profit margin and a better market placement than the rest. Fashion retail has golden rules, that is, Once you get the experience right, you can get consumers’ hearts.
The story of data starts when users communicate with the website. They can be ordering something, returning something or just pondering/hovering over something.
All that data is collected and makes sense, in the form of patterns. These patterns make bigger patterns that are called user behaviour. Which tells how a person is going to act in front of a situation. This results in better predictability and better recommendations. So, it can be said that data is the source and fuel for the system at the same time. It enriches the algorithm with more useful information.
How is Myntra using Growth Hacking?
At Myntra, all the technology and fashion is directed in one direction. That one direction is simply to make the user journey as smooth as possible. It should be full of aids, but not too much and it should be easy to walk on. Noticing this simple goal, they recently launched something called ‘Growth hacking’.
Growth hacking is an initiative and an experiment with which Myntra is trying to capture hindrances that are faced by users. For example, users should be able to check out with a click and clicks for websites should be lowered. They are also looking to add and subtract a few traits in the post order stage.
All these little tweaks here and there will help cover the journey of the user in a smooth way. The result of which is more and improved conversion rates. Another consequence is that users have more retention and thus more revenue for the company.
These experiments like that of growth hacking Myntra is employing a method of AB testing. Since they have a large variety of products in almost every domain, it becomes imperative to make it easy for the user to make choices. The process goes like the easier the better.
In order to release the experiments at the growth hacking, they have to conduct A-B testing. It is a method by which a company tests its experiments with some people and gets their feedback. It was made sure that the experiments work well and that they don’t add any sort of hindrance to the user journey.
From the above discussions, it is evident that Myntra is planning a lot more investments in the data department. They know that this is useful in reaching new scales of growth. They are not wrong in this manner, everyone loves personalisations and attention to detail. With data-driven growth, there are a lot of utilities that can be achieved. Myntra is betting on this new-age tech of machine learning and data science.
As they develop each wing of the data plane, like data analytics, data science and machine learning in the platform, they want to make all these things go together. In a synchronised manner, these things will work better and more efficiently.
Myntra is investing a lot in machine learning models that work in real-time. The workings of which will help Myntra to get quick and real-time feedback from users. Another reason for developing the ML platform is that they can run data from models and execute them.
Myntra is a platform that runs at a level of whole India or PAN India. This means that they have a lot of consumers to cater to. They have to be right with data if they want to predict their users’ patterns. This is one of the main reasons why Myntra is trying to improve its data science wing. It will add more depth to the organisation and will help increase the consumer experience.
Myntra has a lot of checks and balances at every step before data ingestion into the warehouse, clean-up and processing. A better capability to tackle users will make for a delightful user experience.
This is why the data science department is running to work with in-depth data details and structures of user data. This will help the whole organisation regardless of the scale at which they operate. However, it might seem easy in theory to work towards personalisation technology but it’s not easy.
There has to be a whole infrastructure setup that can be built for analytics. Myntra has also taken some steps to improve the data handling at the company. Here we will discuss these processes and the progress that they have made.
First of all, Myntra starts the work even before data arrives at its shores. They try to track every piece of information that arrives at its doorstep. It can be any data or information from warehouses, process reports and stock placements. At every step, new data is laid out and Myntra keeps full track of these. Recording everything helps the company to catch any deviations that might have occurred in the process.
Now, to improve the metrics, it has to follow a repeated process. An iterated process. The continuity of the process is the key in this venture which helps to improve monitoring and catching of errors and deviations. If the process of data collection is even and continuous, they will catch omissions quickly which makes it efficient. For even for a minute deviation or non-success in their data trajectory, they have a solid alert in place and a testing framework to report.
Conclusion
Fashion is a powerful word. With enough potential to generate a lot of cash for the trailblazer. Fashion retail has some common golden rules. That is, Once you get the customer experience right, you can get to the consumer’s hearts. Once they get this thing right, they will be the market leader in fashion retail in India. This is all about brand loyalty and customer satisfaction.
Myntra is planning to go deeper into this segment which will allow them to better understand the market and its consumers. In the modern world, the apocalyptic 21st century, the internet and technology are the lead workers in almost every industry.
Fashion is the new world where tech is working and it has a lot of benefits. Myntra is also trying out and working on virtual trials of products on each consumer. The future and present of fashion are changing and so are the priorities of people.
FAQ
How does Myntra use big data?
Myntra tracks the user behaviour, if they are going to buy something or just surfing, what are they looking for and stores it which helps them to recommend the best-personalised fashion to every customer.
How does Myntra use machine learning?
Myntra analyses its customer data, social media and its fashion portals to find out what customers are exactly looking for.
How does Myntra use data analytics?
Myntra uses data to provide personalized recommendations to its users.
In an exclusive interaction with StartupTalky, Ayushi Gudwani – the Founder & CEO of FableStreet gets candid about her early life, interests, career & startup challenges.
Ayushi Gudwani has been a work-wear consumer for years and went through the predicament of finding great pieces to wear to the office. She always found it hard to find styles that fit well and are comfortable and long-lasting. That triggered her thoughts and she ended up co-founding FableStreet. It started with a vision to make women feel confident and comfortable by addressing their work-wear needs.
Know the journey of FableStreet from Ayushi Gudwani | Founder & CEO of FableStreet
Tell us about your early life, interests and hobbies.
Ayushi Gudwani | Owner of FableStreet
I was born and raised in New Delhi in a typical Indian family, with a strong focus on academics. I was a topper throughout my high school and undergraduate. After the completion of my engineering from NSIT (Delhi), I went to pursue MBA from IIM Calcutta where I was awarded a silver medalist. Post that, I joined McKinsey & Company in 2008, before venturing out to start FableStreet in 2016. So I have geeky typical engineering + MBA background, not very exciting! Personally, I am an optimistic person as well as a dreamer and executioner. I derive my energy from people around me and rely heavily on my teams and family. My hobbies and interests include a fitness regimen, travelling, music and indulging in Thai food once in a while.
Being an entrepreneur is fulfilling but chaotic. It means having a never-ending workload that just seems to pile up like Jenga. I usually wake up at 6 am and start the day with a nice cup of tea and newspaper. Then, I make a to-do list of the agenda I need to take care of that day as well as the week, which is then passed on to my team. I also spend some time on my phone to check how the previous day’s sales are doing and resolve any urgent issues that need attention.
My teammates know how much I love going to the office on workdays and meeting them and engaging with them on a day-to-day basis, be it to discuss work or simply share a laugh. A typical workday would consist of team or one-on-one meetings, problem-solving, focusing on product development, etc. And to find balance in life, I spend time with my family, read books and chill on Netflix.
Tell us about your job responsibilities. How they have changed over time?
As a Solopreneur, the first couple of years, in terms of job responsibilities, were different than they are now. I managed operations, oversaw the hiring process and pushed myself to learn every aspect of the business. But all that has eased over time, as the team grows and expands.
My core responsibilities include solving the problems to ensure that we are on the right track, thinking through a strategic lens for the business, focusing on team health to build capabilities, boost morale and support them professionally and personally, networking and building partnerships and looking at opportunities for future funding and growth. Lastly, I also make a mental note to be prepared every day to face and solve any last-minute fire-fighting circumstances that may occur in any of the teammates, no matter how big or small.
What challenges did FableStreet face?
As a business owner and strategist, one is always experimenting with new things – it is a continuous trial and error process. We need to understand and accept the fact that 1 out of 3 ideas will work in any set-up/venture. Eventually, counting each and every setback is exhausting and also takes the joy out of working on your ideas. So, whatever I am working on, I give my best shot. One day at a time – that’s the only mindset I function with.
FableStreet site that caters for the need of all professional women out there.
Tell us about your superpowers.
Tenacity, multitasking, passion, a strong belief in my business idea and knowledge of my target audience and competition along with strong people skills, emotional quotient and understanding of what drives people. I believe these are the super-strengths that I’m managing till today.
Knowledge of your target audience keeps you ahead of your competitors.
Which online tools do you use the most and would like to recommend as well?
Even though I like being connected to people and my teams, I am not a big gadget freak and do not use multiple tools/apps. I follow the traditional method of making to-do lists either on paper or Google sheets/ Excel sheets for tracking and planning of daily work. I prefer one-on-one discussions and team huddles to operate my business. Lately, Zoom and Google Hangouts have been helpful for remote team discussions.
My previous work experience at McKinsey & Company and the people I worked with, in terms of leadership skills, problem-solving, aspirations and vision are a big part of who I am today. They have shaped me into the person I am today. Working with such inspiring people helped me learn what leadership means and how to care for individuals and teams.
I saw people genuinely care about my professional growth and that is something I would like to give back to my organization. I also learned how to dream big and act small with no end to visioning – that if you can’t solve the problem, no one else can. At a personal level, it has been my family and the values they have given me, had shaped my views and how I lead my life.
How’s your workspace setup look like?
We have an open seating arrangement at work to ensure open communication, approachability and quick problem-solving within the teams. I am usually placed between my team and that’s how I like to work when I am in the office.
What is the best advice you’ve ever received?
One of the best pieces of advice I have got is that people are your biggest asset. As an employer, you need to make sure that you genuinely do right by them. From a business point of view, it would be to think big, act small and conserve cash. This is something that holds true everywhere.
If you get a chance to start your career again, what would you do differently this time?
I would like to achieve a B-school degree from abroad, primarily in the USA. The reason being that the quality of schools and education is fairly different there. I love my alma mater (IIM Calcutta) and had an opportunity to spend some time at UCLA Anderson School of Management and I absolutely loved that.
Frequently Added Questions – FAQs
What is FableStreet?
FableStreet is a premium work-wear brand for women that helps women to find tailor-fit clothes on all body types.
Who is Ayushi Gudwani?
Ayushi Gudwani is the Founder and CEO of FableStreet.
Who is the owner of FableStreet?
Ayushi Gudwani is the owner of FableStreet.
Is FableStreet available online?
Yes, you can get FableStreet clothing from their own website or other e-commerce sites such as Myntra, Ajio & Nykaa.
What is the FableStreet funding to date?
FableStreet has raised a total of $2.9M in funding over 2 rounds.
What is the USP of FableStreet?
The USP of the FableStreet includes a proprietary and R&D-backed tailored Fit algorithm which gives a great fit with just 3 body measurements. The company offers a “My Style, Your Fit” solution to address the problem of women across shape and size.
Anik Banerjee
Nitin Konde
