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 Berrylush.
We all do love to stay in fashion, right? In the era of the 21st century, the styling trends of the fashion sector are currently dominating the globe more than ever! In this present era, companies are not only controlling the procedure of the people’s dressing sense but also the trends in makeup, fashion, and many more. During the 60s flares weren’t everything but also the particular styling stuff defined an entire generation which is prominent to date. Fashion is very bold and this boldness is reflecting the ongoing generation who are not at all frightened of speaking on their face. It is simply not just a means of clothing but also showcases your personality.
Berrylush is a company brought into existence, especially for the younger women generations who are concerned more and genuinely about looking good and having fun. Read the Berrylush success story below!
Berrylush is a very inspiring clothing company for women of younger ages looking forward to looking decent and confident. It is quite an affordable clothing company that mainly provides its consumers with the best online shopping experience on the Internet. Their concept is to make females glow with their exotic designed dresses.
Berrylush – Industry
The Indian textile marketplace is anticipated to be growing and its worth is gonna rise to $209 billion by 2029! Cotton production is also anticipated to reach 37.10 million bales. The marketplace is additionally anticipated to regain and then grow by 10% to reach $190 billion by 2025-26.
Berrylush – Founders and Team
Alok Paul and Anusha Chandrashekar – Berrylush Co-founders
Alok Paul and Anusha Chandrashekar are the founders of the company Berrylush.
Alok Paul
Alok Paul is presently the co-founder of two different companies namely Berrylush and Prime Seller Hub. Initially, he was an engineer and he worked at companies like Accenture.
Anusha Chandrashekar
Anusha Chandrashekar is the co-founder and the CEO of the company Berrylush! She also began her career as an engineer and she worked in companies like Tata Consultancy Services and Deloitte.
Berrylush – Startup Story
Alok Paul and Anusha Chandrashekar began the company Berrylush with just four machines and a very little squad. Anusha was an IIM Raipur graduate who always used to be relatively intense about thefashion sector and did dream of running a women’s western wear brand all on her own. And her batchmate, Alok, was enthusiastic about creating eCommerce businesses!
Both got married to each other and also gave importance to each other’s attention. Soon after the couple inaugurated an online women’s western wear brand Berrylush in Noida, India.
Berrylush – Mission and Vision
The mission and the vision of the company Berrylush is to make females feel completely different whenever wearing Berrylush dresses.
Berrylush – Tagline and Logo
Berrylush Logo
The tagline of the company Berrylush is, ‘You are already beautiful. Our mission is to make you feel that way.’
Berrylush – Business Model
Berrylush business model is an asset-light model! The brand has got just two destinations situated in Noida which is an office and a manufacturing department which has got around 120 machines within. There are 14 regional fabricators who manufacture solely for the brand Berrylush.
The clothes are sold directly to the consumers with the help of Myntra which holds around (55 percent of the sales), the official website which holds around (20 percent of the sales), Ajio also holds around (10 percent of the sales), and additionally, others hold (15 percent of the sales).
Berrylush is an e-commerce brand and hence the term e-commerce makes the concept quite easier for all to understand how the company is earning money. The statistics mentioned above showcases a part and is a simple B2B (Business 2 Business) retail company.
Berrylush – Online and Social Media Presence
Berrylush is a very famous name and most of the girls reading this article know quite well about the brand. It is relatively a renowned brand if you are looking forward to online shopping, especially from the platforms ofNykaa Fashion, Amazon, Flipkart, Myntra, Ajio and so on.
Other than the shopping spaces, Berrylush is actively present on the social media pages of Instagram, Facebook, and also has got its name on various web portals.
FAQs
When was Berrylush founded?
Berrylush was founded in 2018.
Who is the founder of Berrylush?
Berrylush was founded by Alok Paul and Anusha Chandrashekar.
What are the platforms to buy Berrylush dresses?
Berrylush dresses are sold on different platforms:
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byNike.
Sports is indeed a global medium of communication. It penetrates through cultures, nations, and divisions. It’s a long-standing consumer desire as well as a stimulus of human aspirations and development.
Individual effort, collaboration, respect, how to win, how to lose, and how to compete strongly and fairly are all valuable lessons learned via sports. In both good and terrible times, sports inspire, fascinate, and reward us. Sports is a fantastic industry to work in, and an even better one to run.
Nike has risen from a quiet small town, in Oregon to become the world’s leading sports footwear and clothing corporation. It all began with a shoe and a t-shirt. It is now a diverse and sophisticated multinational corporation. Nike is well recognised for its footwear, clothes, and accessories. It offers products under the Nike and Jordan brands, and also via its Jordan Brand and Converse divisions.
Nike – Company Highlights
Startup Name
Nike
Formerly Called
Blue Ribbon Sports, Inc.(1964–1971)
Industry
Apparel, Accessories, Sports equipment
Headquarter
Beaverton, Oregon, U.S.
Founders
Bill Bowerman and Phil Knight
Founded
January 25, 1964
Key People
Phil Knight (Chairman Emeritus), Mark Parker (Executive Chairman), and John Donahoe (President and CEO)
Nike is an American multinational athletic brand that designs, manufactures, promotes, and distributes footwear, clothing, training accessories, and service. Many of its merchandise are used for leisure or casual activities while being built for sports purposes.
The bulk of Nike’s products are made by independent contractors and sold directly to customers through Nike retail shops and online mediums, as well as through independent retailers, franchisees, and sales agents.
The company’s global headquarters are in the Portland metropolitan region, in Beaverton, Oregon, the United States. It employs about 44,000 people globally, and the company’s brand was valued at $19 billion in 2014, making it the leading name in the sporting world.
Nike sells its products under Nike Pro, Nike Golf, Nike+, Air Jordan, Nike Blazers, Air Max, and other brands, as well as subsidiaries including Hurley, Jordan, and Converse. Nike supports many popular professional athletes and sports clubs and teams throughout the globe, and its trademarks “Just Do It” and the Swoosh emblem is very well known.
Nike – Industry
The sports sector is becoming the world’s largest as more individuals participate in sports and leisure activities to improve and balance their stress, health and work regulation. It has become popular as an active and passive piece of recreation.
Customers are actively investing more in sportswear, with sportswear and accessories accounting for a substantial portion of the cost. Sport in the twenty-first century is an industry characterised by extremism. Market research is currently at the forefront of marketing sports products and accessories, as marketplaces throughout the world become highly competitive.
The worldwide sports equipment and accessories industry is booming, with the rapid acceptance of innovative technology and a willingness to adapt to demographic shifts. The sector is booming because of e-commerce, which is a prominent retail medium these days that allows users to experience all of the available sports equipment manufacturers. It is a one-stop store for all athletics equipment and products, increasing the marketability of worldwide athletic apparel.
Numerous established market participants in retail, e-commerce, sports shops, and wholesale, as well as many new startups, make the sports equipment and accessories industry extremely competitive. Growing consumer health consciousness is predicted to propel the growth of sports equipment throughout the forthcoming years. In addition, the emerging trend of following famous athletes will fuel the accessories industry.
The market for sports equipment and apparel was estimated to be $480 billion in 2021, with a CAGR of 7.2 per cent expected to reach $817 billion by 2026.
The word “Nike” was extracted from Greek mythology where Nike is the Winged Goddess of Victory. The ‘swoosh’ logo is derived from the goddess’s wing, and it represents the sound of movement, speed, drive and, strength.
Nike Logo
Nike’s very popular slogan says, “Just Do It.”
Nike – Founders
Bill Bowerman and Phil Knight founded Nike on January 25, 1964, which was then named “Blue Ribbon Sports”, and then it became “Nike”, Inc. on May 30, 1971.
Founders of Nike – Bowerman and Knight
Phil Knight
Philip Hampson Knight is a multimillionaire American entrepreneur. He, along with being the co-founder, is the former chairman and Chief executive officer of Nike. Forbes ranked Knight as the world’s 24th richest person on July 23, 2020, with his net worth being $54.5 billion.
In addition, he is the co-founder and CEO of Laika, a time-lapse film production company. Knight completed his education at the Stanford Graduate School of Business and the University of Oregon. He competed in track at the University of Oregon under Bill Bowerman, his coach and with him, he eventually co-founded Nike.
Bill Bowerman
William Jay Bowerman was a field and track coach in the United States and a co-founder of Nike, Inc. He coached 51 All-Americans, 31 Olympic competitors, 12 American record-holders, 22 NCAA winners, and 16 sub-4 minute milers in his time.
He despised the title of coach, yet during his 24 years at the University of Oregon, the Duck’s track and field team won every season except one, won four NCAA championships, and placed in the top ten in the country 16 times.
He helped Nike transition from being a supplier of other shoe brands to designing their shoes as a co-founder. He designed several of the company’s popular products, including the Cortez and Waffle Racer.
Nike – Startup Story
Nike’s roots may be traced all the way back to the year 1964 when Blue Ribbon Sports (Nike’s former name) was created. Phil Knight had recently finished his bachelor’s education at the University of Oregon, followed by a Master’s degree at Stanford University, giving him two life-changing encounters.
He ran for the University of Oregon track team, where he met Bill Bowerman, his team’s coach. Aside from his extreme rivalry, Bowerman was preoccupied with upgrading his running shoes and exploring various models on a constant schedule after learning from a local shoemaker.
Knight became the first runner to put Bowerman’s footwear to the check. Bowerman offered to bring one of his shoes and customise it with his own design, perceiving Phil as a comfortable and modest runner with someone to explore.
Knight accepted the invitation, and the shoes reputedly functioned so well that his colleague Davis grabbed them and won gold in the 400-meters track race in the year 1960 Olympics. According to him, Bowerman made the shoes for Otis Davis. Knight attended Stanford’s MBA school after graduating from the University of Oregon, where he wrote a thesis recommending that the manufacturing of running shoes be shifted from Germany to Japan, where labour costs were lower.
Knight put this theory to the test when he went on a trip to Japan shortly after graduation in 1962. He agreed to market the country’s famous Tiger shoes in the United States with a group of Japanese entrepreneurs.
Coach Bowerman endorsed Knight’s initiative, agreeing to an equal partnership with him for the ownership of their new firm, Blue Ribbon Sports, which was formed on January 25, 1964, in Eugene, Oregon.
After starting Blue Ribbon Sports, Knight evaluated the market for his foreign shoes by distributing them out of his car when he returned to America. Early on, it was clear that there was a demand for these less priced but still high-quality alternatives to Adidas and Puma, the industry’s heavyweights.
Nike – Vision, and Mission
Nike’s vision statement says, “To bring inspiration and innovation to every athlete in the world.”
Nike’s mission statement says, “Our mission is what drives us to do everything possible to expand human potential. We do that by creating groundbreaking sports innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work.”
Nike’s business model revolves around creating and distributing athletic and sporting goods, such as footwear, apparel, and equipment – as well as certain services. Everything is under one of the world’s most well-known brands.
Customer Segment
Nike sells sports or athletic wear, footwear, and types of equipment. Nike’s market is divided into four primary sections, also in order of revenue, geographically:
China
North America
the Asia Pacific and Latin America
Europe, Middle East, and Africa
Customer-Seller Relationship of Nike
Customers’ interactions are almost entirely limited to self-service. The consumer will examine the brand or product online or offline at the store, purchase it, and put it to use. When necessary, there will be some engagement with a salesman. A FAQs section is also available on the official website, as well as customer service through phone, email, or live chat. Nike also offers Nike ID, a customisation service that tailors Nike items to the preferences of clients.
Value Proposition
Nike makes merchandise that encourages people to participate in sports. Their goods are significantly reliant on the brand’s quality, inventiveness, and prominence. This is the brand’s core, and it’s exactly what buyers want when they buy a pair of Nikes.
Nike has a wide range of products for several sports and hobbies. What counts to the audience, though, is getting a product that has been thoroughly researched and developed using the greatest raw materials and technology available. They also want to maintain the brand’s excellent reputation, which includes superstars like Michael Jordan, Tiger Woods, and Cristiano Ronaldo.
Cost Structure
Sales costs (mainly inventories and warehouses) account for more than $21 billion in annual expenditures for Nike. A further $3 billion is allocated to marketing, which includes spending for promotion and marketing, sponsor, marketing, brand events, and brand personality display. Over $500 million is spent each year on other general and administrative expenditures.
Nike is the world’s largest footwear and clothing retailer, with these sales accounting for the majority of their income. Although its sports footwear is developed with a large investment in technology and high products, the majority of its products are utilized regularly for recreation purposes.
Nike also provides balls, sunglasses, backpacks, gloves, digital gadgets, and other sports equipment and accessories, as well as recreational items for a variety of physical and outdoor activities.
In order of sales, the corporation targets women, men, young athletes, and children. Nike’s goods are divided into six groups: running, basketball, Jordan Brand, soccer, training, and sportswear (lifestyle products). Running, Jordan Brand and Sportswear are Nike’s most profitable segments.
Nike – Investments
Date
Organization Name
Round
Amount
Dec 2, 2021
AllStar Code
Grant
$500K
Oct 14, 2021
SpringHill Entertainment
Venture Round
–
Oct 14, 2021
The SpringHill Company
Private Equity Round
–
Nov 20, 2019
HandsFree Labs
Corporate Round
–
Mar 4, 2014
Reflektion
Series A
$8M
Oct 7, 2013
Grabit Inc.
Series A
$6M
Jan 4, 2011
Rock Health
Grant
$500K
Nike – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
RTFKT
RTFKT is a developer of custom sneakers designed for video game enthusiasts.
Dec 13, 2021
–
Datalogue
Datalogue uses artificial intelligence to automate data preparation.
Feb 8, 2021
–
TraceMe
TraceMe is a technology company connecting athletes, influencers, celebrities through new social media platforms.
Oct 11, 2019
–
Celect
Celect is a cloud-based, predictive analytics SaaS platform that helps retailers optimize their overall inventory portfolios.
Aug 6, 2019
–
Invertex
Invertex leverages 3D scanning to allow a customer specific e-commerce experience and create mass customization product lines.
Apr 9, 2018
–
Zodiac
Zodiac is a predictive customer analytics platform that helps marketers predict consumer behavior.
Mar 22, 2018
–
Virgin Mega USA
Virgin Mega USA is a virtual community that enables users to purchase and experience music products.
Aug 2, 2016
–
Umbro
Umbro is an English sportswear and football equipment supplier.
Oct 23, 2007
–
Converse
We make rad sneakers and apparel.
Jul 9, 2003
$309M
Hurley
Hurley is a big brand providing a large chain of Apparel
Feb 22, 2002
–
Nike – Competitors
Adidas, Skechers USA, Puma, New Balance, Steve Madden, and ASICS America are Nike’s competitors.
Child Labour Allegations – Nike was chastised in the 1990s for using child labour in factories it hired to make footballs in Pakistan and Cambodia. Despite taking steps to stop or at least limit the practice, Nike continues to outsource production to firms that operate in locations where child labour is difficult to avoid due to a lack of regulation and oversight. An investigation from 2001 revealed instances of child labour and bad working conditions in a Nike facility in Cambodia. The documentary followed six young women who worked 7 days a week, frequently for 16 hours.
Paradise Papers – Nike was one of the firms that utilised offshore entities to evade taxes, according to the Paradise Papers, a series of private electronic papers linked to offshore investment, released on November 5, 2017.
Strikes in China Factory – One of the largest strikes in mainland China occurred in April 2014 at the Yue Yuen Industrial Holdings Dongguan shoe factory, which produces shoes for Nike and other brands. Yue Yuen underpaid a monthly employee by 250 yuan. Yue Yuen’s average monthly wage is 3000 yuan. 70,000 people work at the plant. This practice had been in place for almost two decades.
Nike – Future Plans
Nike has not been spared from the covid outbreak. Revenue decreased by 1% in 2020 after falling by 38% the previous quarter. The company’s ability to enhance profit and generate substantial growth in its digital platform, however, has delighted the market.
Nike’s success has persuaded investors that the company is gaining market share throughout the pandemic and would come back stronger than its rivals. Those aspects, particularly the company’s digital capabilities, reflect well for the firm’s competition in the next 5 years.
Nike originally set a goal of $50 billion in annual revenue by the year 2020 in 2015. Due to previous setbacks when it lost momentum to Adidas, it was obligated to postpone that until 2022, but despite the pandemic’s setbacks, the business is on the path to meeting that goal. To do so, it would have to increase sales at a compound annual rate of approximately 9% from $39.1 billion in fiscal 2019.
When the pandemic was already over, the company, like the rest of the apparel industry, seemed to be well-positioned to capitalise on demand. Stores were reopened, and there was undoubtedly a surge in spending on streetwear such as Nike’s classic sneakers. Nike could be able to reach more than $60 billion in revenue by 2025, three years after surpassing its $50 billion objectives in 2022, thanks to its digital momentum and recovery from the pandemic.
However, the firm’s profit ought to increase as more of its sales shift to online and direct, where it has complete leverage over the selling process and isn’t required to share income with its partner companies. Nike’s Consumer Direct Offense has helped the company gain ground on competitors like Under Armour and Adidas, and this growth is projected to continue in the future years.
Nike seems to have a bright future ahead of them. The stock should continue to be a winner over the next five years, with profit margins improving, a headwind from the end of the covid-19 virus outbreak, and a strong leader in its sector.
Nike – FAQs
What does Nike do?
Nike is an American multinational athletic brand that designs, manufactures, promotes, and distributes footwear, clothing, training accessories, and service.
Who founded Nike?
Bill Bowerman and Phil Knight founded Nike in the year 1964.
What was the former name of Nike?
The company was founded with the name, “Blue Ribbon Sports”.
How does Nike make money?
Nike’s business model is totally based on manufacturing and selling athletic and sporting goods, such as footwear, apparel, and equipment – as well as certain services.
Which companies do Nike compete with?
Adidas, Skechers USA, New Balance, Steve Madden, and ASICS America are among Nike’s competitors.
Fashion standards have changed on a daily basis in response to trends, customer preferences, supply and demand. To maintain a favourable result, fashion enterprises should keep an eye on the market every day by manufacturing new designs that could bring good results.
Have you heard of Paris Fashion Week, where celebrities and models dress up and walk the catwalk to show off the latest fashion collections from designers? In simple terms, well-known celebrities such as Gigi Hadid, Kendall Jenner, Adriana Lima, Cara Delavigne, and others walk the runway by introducing new low-priced stylish clothing that was designed by well-known or up-and-coming designers to influence a new line of clothing/accessories to retail stores that can create trends and boost purchase-power among audiences.
Fast fashion business developed in the late 1980s, with the market-based model by bridging the gap between creation and consumption by positioning this as a quick, low-cost, and disposable item.
Fast fashion retailers such as ZARA, H&M, Gap, UNIQLO,Louis Vuitton, Shein, and many more operate on a seasonal basis, with new outfits and accessories arriving in stores every four to six weeks, often more often than the rest of the fashion industry.
Furthermore, it varies by company; for example, ZARA receives new clothing supplies twice a week. In Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, The United Kingdom, and The United States, fast fashion is usually sold through physical stores or online auctions. Aside from that, the top nations for sourcing fast fashion clothing and accessories are India, Cambodia, Vietnam, Indonesia, and Turkey.
Fast Fashion became so ubiquitous and successful that you could buy runway clothes or upcoming trends apparel from popular brands such as H&M, Zara, GAP, and others in advance at a discounted price before they hit the stores. From creating mass production of new clothing lines, selling them at low prices, standardizing fashion styles in advance, earning tons of money out of it to making a trend in the future- fast fashion businesses benefit a lot.
Target Audiences
Fast fashion businesses usually cater to consumers who value fashion above all and can buy the product. Even persons with a middle-class income may afford and buy clothing from fast-fashion labels.
Fast Fashion Business Model
Before the 1980s, fast fashion businesses were product-driven, but by the late 1990s, they had evolved into a market-based business strategy. The fast-fashion industry, in particular, embraced two strategies: Management Style and the Quick Reaction Approach. Fast fashion management is used to meet people’s demands for aestheticism by wearing the newest and most fashionable clothing styles promptly. In the textile business, quick reaction methods are used to improve manufacturing techniques to remove time from the production system. Fast fashion is also linked to other market categories, such as premium and luxury, that use a supply chain acceleration and continuous supply approach.
What’s Unique About the Business Model of Fast Fashion Brands?
A company’s profit strategy is referred to as its business model. It specifies the items or services that the company intends to sell, as well as the target market it has identified and any expected costs. For both new and existing businesses, business models are crucial. They assist new and growing businesses in attracting capital, hiring top personnel, and motivating management and employees. Established companies should keep their business strategies up to date regularly, or they will miss out on future trends and issues. Investors use business plans to assess companies that they are considering investing in.
A business model is a high-level strategy for running a profitable business in a particular market. The value proposition is an important part of any business plan. This is a description of a company’s products or services and why customers or clients find them appealing, ideally articulated in a way that sets the product or service apart from its competitors.
Sales Revenue of Various Top Fast Fashion Brands
The business model for a new company should also include expected beginning costs and funding sources, the organization’s target client base, marketing strategy, a competitive analysis, and income and expense predictions. The strategy may also include ways for the company to collaborate with other well-established businesses.
Successful firms have business strategies that enable them to meet customer needs at a reasonable price over time. Many organizations update their business models over time to meet changing market conditions and demands. When considering a company as a potential investment, the investor should learn how it earns money. This entails investigating the company’s business model. The business model, however, may not reveal everything about a company’s prospects. However, an investor who comprehends the company strategy will be able to make more sense of the financial facts.
There are as many different kinds of business models as there are different kinds of businesses. Traditional business strategies include direct sales, franchising, advertising-based, and brick-and-mortar storefronts, for example. There are also hybrid models, such as companies that combine online retail with brick-and-mortar stores or with sports leagues like the NBA. Within these broad categories, each business plan is unique.
Fast fashion, as the name implies, manufactures and rapidly produces new apparel products for audiences before they emerge in offline stores. Many reputable brands, such as ZARA, Calvin Klein, Louis Vuitton, Gap, Forever 21, and many more, sell their latest designed clothing lines to audiences at a cheap rate in advance during fashion week, which is then sent to shops as a mass-production to fulfil revenues and trends. Furthermore, a fast-fashion business advantages a company in a variety of ways, including purchasing the latest products ahead of time that creates timely trends, designing and varied styles of clothing availability, low-cost production, reasonable costs, and quick profits.
FAQs
What is a fast-fashion business?
Fast Fashion is a term used to describe apparel and accessories that are created to follow current industry trends but produced with less expensive materials to keep the price low. Fast Fashion has been popularized among regular consumers by apparel companies such as H&M, Zara, and Forever 21 over the previous two decades. UNIQLO, GAP, Primark, and TopShop are among today’s biggest fast fashion brands. While these brands were formerly thought to be radical low-cost challengers, Misguided, Forever 21, Zaful, Boohoo, and Fashion Nova are now even cheaper and faster alternatives.
What are the topmost fast fashion businesses?
Zara, H&M Group, UNIQLO, GAP, Forever 21, Topshop, Esprit, Primark, Fashion Nova, and New Look are all major players in the fast-fashion sector. Many businesses are both merchants and manufacturers, while the actual production of garments is frequently outsourced.
How do they make money out of it?
Fast fashion can only make money if it sells a large number of items, which it does. They enable retailers to provide their customers with current product offerings regularly. The global fast fashion market was expected to be worth $35.8 billion, according to fashion industry figures. Every sector was shaken in 2020, and we all know why. Fast fashion is expected to be worth $31.4 billion in 2020, showing a –12% compound annual growth rate.
The way people shop has changed as a result of e-commerce. Almost everyone who aims to grow their business look to do so through e-commerce. But did it ever cross your mind to consider marketing through social media? Meesho introduced that resale concept. It’s the very first to allow users to sell via social media platforms that nearly everybody uses.
Meesho is a social e-commerce firm based in Bangalore, India. It was formed in December 2015 by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal. It provides small businesses with a platform where they can sell their items to consumers and resellers who can resale products using social media platforms like Whatsapp, Facebook, and Instagram. It became the first Indian application to be ever funded by Facebook.
Meesho has assisted several such businesses in developing their own identities over the last five years since its launch. This platform allows you to establish your businesses with no money down. So if you’re looking to make a real effective income, we brought you some tips and procedures to market your product on Meesho.
Registering on the Meesho seller panel is simple and quick. Meesho enables small enterprises and self-employed people to create an online business utilizing social media platforms. Meesho allows its users to select products from a variety of vendors and resale them in exchange for a commission. Customers are unaware of this procedure, and users are paid a commission on everything sold through Meesho.
Users are the holder of the company. They may set the selling price as well as the profit margin. Resellers can place orders on behalf of customers once the contract is finalized. Customers will be able to see resellers’ addresses and business names when they receive the order. It displays the address and company name from where the order was placed. As a result, users can name their companies. Meesho users are referred to as resellers rather than sellers or vendors.
The process is very simple for users if they want to register on Meesho and become a seller. The product will be listed and resellers will sell them. The users only need to list the products and the Meesho delivery staff will take care of the rest.
Step by Step Registration Process for Meesho Reseller
Users who have already signed up on Meesho can straight up login to the Meesho seller page. Follow the steps listed below to register as a Meesho seller to establish your own business:
Step 1: Registration and Listing of Products
PAN Card, GST number, and a Business Account are required to register as a Meesho seller. If you are a supplier interested in joining Meesho Seller Panel, go to the official website and fill out the application. You can list your products on the app if you are a seller.
Even if you don’t have a business but want to start one, you can also become a reseller. You just need to choose a catalogue and post it on social media, with product images and information such as size, colour and expected delivery date.
Step 2: Start getting orders
Once the catalogues are available on the application, resellers can share them with their clients via social media sites such as Whatsapp, Facebook, etc., and can start receiving orders instantly. Because of more traffic on social media these days, potential clients are abundant.
Meesho Catalogue
Placing the order on Meesho is a breeze. Add the product to the cart, fill in the customer’s shipping and billing details, and provide the name and phone number of the business that you want the client to see when they get the order.
Step 3: Product Delivery
Meesho sends you an email and also notifies supplier panels when an order is received. Its officials come to pick up orders once it’s been placed. The seller just needs to keep the order packed and ready and not be concerned about order delivery. Their delivery service is extremely secure and orders are received safely and no shipping costs are charged.
Step 4: Payments
Payment options include both online and offline modes. On the 15th day after the order purchased is delivered, payments, including COD orders, are transferred into your account. The payment details are available to see on the Meesho seller panel. Also, if a payment issue arises, Meesho seller assistance assists sellers and resellers to resolve their issues.
Follow the trends. List the products that are trending in the market to get more orders and hence increase revenue.
The more catalogues you upload, the better your chances are of receiving orders. One usually needs 4-5 catalogues to get orders on Meesho.
Set the pricing in such a way that the reseller has ample space to set up their margin. The more margin room there is, the more shares the catalogues will receive.
Try to always use the Next Day order dispatch option which compels suppliers to ship orders the next business day after receiving them. This assists in increasing the number of orders.
You can gain more visibility and attract more customers by creating sponsored ads on Meesho.
What Makes Meesho a Sellers’ Favourite Choice?
Low Commission Rate
With less than 1.8 percent, Meesho maintains the lowest commission in the entire industry. Sellers are also advised on what to sell and at what rates.
All-encompassing Hub
Meesho is an ideal space for small to medium-sized businesses, both branded and unbranded sellers looking to boost earnings offer better costs to resellers.
Easy to Operate
Meesho makes listing products very simple, with fast and secure transactions and no shipping charges.
What Makes Meesho Unique?
Meesho pioneered the notion of social media-based marketing, which is what makes it different from other platforms. There are over one crore resellers on the “Meesho Seller Panel”. Meesho has well-known clothes, home, kitchen, and other lifestyle accessories catalogues.
Conclusion
Meesho is a perfect platform for small enterprises and individuals to open their shops and perhaps earn good money. This is a platform that allows people to earn money very easily from the comfort of their homes. It is the first-ever startup distribution channel in India to receive funding from Facebook and this in itself makes it one of a kind and a trustworthy place.
FAQs
How do I promote my products on Meesho?
You can advertise your products on Meesho by running ad campaigns on the app.
Is selling on Meesho profitable?
Yes, selling on Meesho is profitable as the platform charges 0% commission and delivery is handled by the company itself.
Can I sell my product on Meesho?
Yes, anyone can sell their products in Meesho, just select the product you want to sell from the Meesho catalogue and start selling by sharing the product on your WhatsApp or social media platforms.
All over the world, the clothing industry is worth thousands of billions of dollars. You go to your nearest market and you will find that clothes are the items that are evergreen in nature. Always present and omnipresent. Every business-minded person when thinking of a business idea, his/her first choice is to choose clothes. This is true most of the time. There are huge players and then there are normal players in the clothing segment. However, The demand is such that every brand has enough to fill its pockets.
China is the most populous country in the world. Everything that The world needs, is needed more in china. It is safe to say that China is a value magnifier or a demand manufacturer. One of the clothing brands in China is called Shein. It is a famous brand and is founded by a very amazing personality. The founder of Shein is Chris Xu. This article talks about the company Shein and the founder who is often regarded as the torchbearer for this mysterious clothing brand. Let us have a closer look.
There is a reason why we began talking about the founder before we start talking about what he has actually found. Chris Xu is the founder of Shein, he is a popular entrepreneur in the world and specifically in China. He is the torchbearer for the brand from the initial stages. He built the brand so mysteriously that he is respected for the vision and works that he had pulled off.
He has achieved so much significance in the fashion industry that he becomes no less than a pioneer in this industry. Chris has been an entrepreneur who has been able to start from zero and scratch and then make a name for himself. Interestingly, the person behind Shein is an mysterious man. He has a name and the work that he has done, that speaks for itself and nothing else.
By the term, nothing else, we mean that the man does not even have a Wikipedia page. This is super mysterious and intriguing at the same time. He is super hideous on the internet. As the world becomes smaller and smaller with each passing day with uprising technology, he remains in his mystery palace. According to us, all this blackout about his information and interviews have been intentional.
All the information that is related to Chris is hidden intentionally all over the internet. The reason behind this agenda can be the security and integrity of the person’s name in public. However, there can be multiple more reasons for doing that.
Let us have a glance at his career. This is by the way rare information. Chris Xu was born in 1984 in the city of Shandong. He graduated from the University of Qingdao in the field of science and technology. He graduated in 2007. Soon after graduation, he moved to Nanjing to work in an integrated marketing consulting company.
Nanjing Aodao Information Technology Co, in 2008, where he specialised in SEO. This is also a fact about Chris Xs that he is an expert in SEO or search engine optimisation. While working in Nanjing integrated marketing consulting company he learnt everything possible about SEO. He did get a fair bit of exposure in the organisation of selling and commercial activities.
After learning the nuances of commercial selling of Chinese goods to the international world, he thought of an opportunity. He left the company following that vision or the opportunity. At the inception, he started building this dream with two other entrepreneurs who were now the co-founders. The idea was to ship cheap items online to every person. Basically an online retail store of the first kind.
In choosing the items to sell, Chris found out the huge demand that wedding dresses operate with. He discovered that these were one of the most highly sought products that were demanded by international markets. These dresses could become the first segment of products that the company will offer. However, there were some issues too in the first place.
Foreign customers were not buying these dresses and the reason was conversion rates. Customers were not able to convert money to buy their desired products. That was the issue that he thought to solve and started to shift all his focus in finding solutions to that. With the money earned from selling wedding dresses in the country, he began building SheInside, which is now famously known as Shein.
According to QQ news, once Xu realised that the only thing stopping international customers from buying products was currency conversion, he ‘vanished’ with his entire SEO team.
Let us now focus on the brand that this mysterious man has built for the world. The fast-fashion retailer ‘Shein’ is here with its journey that is full of controversies.
A Small Brief About Shein
‘SheInside’ was the primary name of this organisation and gradually the name became Shein to the world. Even though the first sort of dresses that Chris picked were wedding dresses, they diversified into a lot more domains afterwards.
They diversified into summer wear like bikinis and swimwear which was designed for the summers. They were low price and that was a huge differentiating factor for customers. It became the first thought of girls when they thought of summer wear and as summers approached every year.
The journey was not easy though, there were many ups and downs in the way. They caused several controversies at the beginning pointing to the cheapness of the products. There were allegations of child labour, environmentalism and the quality of the clothes. There is a mystery of the process with which the company operates. Despite all the problems, the company has been able to maintain itself as a trustable brand with its audience.
Inception of Shein
The story of Shein begins when Chris Xu thought of starting out his own venture. Before starting out with Shein, Chris owned a successful wedding dress company and gave it up all, to begin with, a new venture. It was in the initial stages when the name “SheInside” was chosen.
It was later in 2015 when the name was changed to Shein as the efforts of branding grew and as the brand emerged as a favourite destination for clothing. The United States was the place where the company was widely successful and still is the place where most of the revenues come from.
The story really started when an American born graduate gave up his business of wedding clothes in search of building a sustainable clothing brand. They acquired the domain name called sheinside.com and primarily focussed on women’s clothing. In 2015 the name was changed and renamed to Shein. It now focussed on the overseas markets and began riding its way into the fashion industry. Which proved to be fruitful in the future.
Through all the ups and downs, it has managed to become a brand in the clothing world. The United States has always been a really good market for these guys. The United States still is Shein’s biggest market. It ships to almost the whole world. It has revenue streams from 220 countries with websites built for Europe, the middle east, Australia and the United States has been ignited by a series of funding rounds. That was the series E funding for the company that happened in the pandemic year 2020. With this funding in hand, the company got a decent valuation that exceeds the 15 billion dollars mark.
Speaking of the nice valuation, it is also noted that the revenues are not made public. The revenues are in some excess of 10 billion dollars. Which is a really pretty number and proves satisfactory growth.
Taking in mind that this number estimate was coming in the pandemic year which was the most difficult for companies. Not many people were buying new clothes to go out. It was all lockdowns and virus precautions. These amazing numbers really attract Asian investors and international venture capitalists and private equity houses among its capital structure supporters.
The Core of Shein – Fashion Predictions
For most of the time, Shein is identified with clothes and as fashion retail, its core is just identification and predictions. It is often mentioned and said that Shein as a company is deeply obsessed with identifying hot fashion and trends. The company is often seen to predict the type of clothes, fabrics and style statements that will mostly go viral in the coming dates. It has even been reported that it has a faster fashion cycle than the Zara. It has a good social media activeness index and markets heavily on Instagram and manages to continue that trend across social media platforms. It tries to make an impression of a Weibo friendly image for attainable and accessible fashion clothing across all the social media.
As mentioned before, the brand has seen ups and downs in the same proportions of magnitude. The success of this brand does not come easy. It has had many incidents that have shaken the base of the company. For instance, the company was condemned to list a pendant that was shaped like a swastika. The problem and the error was later apologised profusely.
The products are all over social media and they have managed to create a brand image for themselves. Shein uses celebrities as well as fashion influencers to elevate the vision and create an image for the clothing line. Most of the operations are online and they do have offline stores too.
The branding from this company has elevated the low quality and low-cost reputation that was allegedly established in the beginning. They have managed things well even during the pandemic. They had an event hosted called SHEINTogether which was streamed globally in May 2020. Artists like Katy Perry, Rita Ora were roped in for the show.
They still manage the repute that they have built over the years. The cloth brand that started in China went from being homegrown to becoming a key player in the clothing segment in the world. Before 2014, Shein didn’t even have its own supply chain. This is mysterious in all senses but it is also true that it is sheer hard work and consistency from the brand’s side. Let us catch a glimpse of the marvellous emergence in the world today. First, let us see the potholes in their way of work.
Controversies Faced by Shein
One of the biggest controversies that the clothing brand started was child labour and abuse. The claim comes after customers begin questioning the cheap products that the company was able to produce. There were allegations of child abuse and child labour to be involved in the matter. Even though, The website of Shein and in all the legal announcements of Shein, the company has maintained to announce that they are strictly against any sort of child labour.
One other concern which concerned consumers all over was carbon emissions. A report mentioned that they keep all their emissions in check and that the magnitudes are within limits. Fast fashion is a subject line that can have a lot of pain points. The fact that it is fact, also makes it full of residuals. These residuals are mostly harmful to nature. If a brand is able to manufacture quality with less price, they face allegations of child labour, which happened with the clothing brand Shein.
“Shein is one of the only large retailers that orders 100 pieces or less for new products to help eliminate dead stock – which makes up 10% of the carbon emissions across the entire supply chain for the apparel industry. Shein is fully committed to upholding high labour standards across the entire supply chain and to improving the lives of workers in the global supply chain by supporting national and international efforts to end forced labour.” A company’s spokesperson explained
The other thing which was pointed out by consumers and critics was that the brand is super secretive. Following the products which it goes by, Shein is a fast-fashion retailer, it maintains all the secrecy in the world. Even the information about the founder of the company is rarely found on the internet. Social media and websites are maintained properly but there are no guest and news appearances. This opaqueness by a brand raises many eyebrows.
Overall, Shein (previously She Inside) is a complete mystery. No phone number, no email and certainly no press contact was to be found online. Even the name of its founder remains a total enigma, as El Mundo reports. This seemingly opaque company relies mostly on digital marketing and bloggers to get you hooked on their products, rather than divulging anything about their supply chain transparently. – Euronews reported.
Emergence of Shein
It is amazing to notice that the brand didn’t have its own supply chain up until 2014. They used to buy their clothes directly from Guangzhou’s Shisanhang Garment Market. It is a wholesale market in China that is famous for the clothing segment. Soon when the company began running operations, it was hit with strong demand. Watching the demand trend, they soon realised that they will have to become self-reliant in everything. From getting their own supply chain to managing shipment and everything else.
Realising this, preparations were made to go more independent. Chris created a team, or we should say assembled a design team. It was an in-house department that works within the specified locale. Within the first two years, the team expanded and there were now 800 people in the design team. This move was not only focused to improve designs but also to save time. The design team made the designs and prototyping efficient and thus rapid. This ensures that time is saved and it lies with the company’s goal of fast fashion. This has also generated a good demand for its new launches.
Adding to the above, the company has also initiated timely payments of the products that it offers to china. Getting payment in time was a rarity in China but Shein doesn’t go with it. With this effect, Shein moved its operations and supply chain from Guangzhou to Panyu in 2015. Taking forward this effect, all the factories that operate under the brand have to relocate their factories for cost control measures.
The year of relocation of factories was also the year in which the brand entered the Middle East market. The sales were big even in the initial stages. The revenues for fiscal 2016, Shein earned 617 million dollars in revenue. In 2017 those revenues soared 1.5 billion dollars.
Market share data from Earnest shows that Shein began 2021 with 13% of total Fast Fashion sales, trailing traditional leader H&M. Since January, Shein continued to gain share and now leads with 28% of the Fast Fashion market, with Zara the only other brand growing share during that period. – Earnest
The future plans for this venture are even more optimistic. They want to include mobile payments into their operations and they want to get more into the supply chain finance division. In the modern world today, they are also hoping to do more advertising to market products. Nonetheless, they are also looking forward to adding more brick and mortar business centres out there. As retail stores also add a lot of magnitude to the revenues. All this growth and emergence from nowhere is not magical, even though it is mysterious but it also acts as proof of work.
Clothing is one of the most favourite items in the world. People love to dress up and that is the basic thought that works behind the scenes of the fashion industry. Fast fashion is the new trend that companies try to capitalise on. They are trends that come and go. This might seem easy but it is a lot of work that goes into fast fashion. Zara is a fast-fashion retailer and Shein also comes on the list. A lot of companies are built from the fashion industry. In fact, Fashion is really a big strong word.
We discussed a lot about Shien and its emergence as one of the leaders in the market today. The brain behind the brand is Chris’s and he is as mysterious as a Hollywood movie spy. The zeal that the company shows is indefinitely inherited from Chris Xu’s vision in the mission. He is one of the most hard-working and well sought after entrepreneurs in the land of China.
With almost no fingerprints whatsoever on the internet. He has been a learner for most of his life and he definitely thinks with first principles. Let alone the business accomplishments, he has practical knowledge and a way of looking at things. It is not a fast skill to learn but is built over time.
FAQs
Who is Chris Xu?
Chris Xu is an SEO expert and the founder and CEO of mysterious fashion e-commerce website, Shein.
Who is the CEO of Shein?
Chris Xu is the founder and CEO of Shein.
How did Chris Xu start Shein?
Chris Xu used to sell wedding dresses, after looking at the popularity he thought of starting his own fashion retail company. He started SheInside with his team and later changed the name to Shein.
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.
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 Svenklas.
Social Impact is being focussed by many startups for ethical growth of its business. Companies are thoughtful towards bringing a significant, positive change that addresses a social challenge specially environmental issues and shows care & concern towards mother Nature.
In modern days with shortage of natural resources Svenklas put its focus on practising sustainability and artful lifestyle products designed thoughtfully with modern aesthetic and hand-made with plant based natural materials.
Read to know about Svenklas, founders, products & services, business model, and the story of its growth.
Svenklas designs minimal, functional and aesthetically appealing products for life’s everyday journeys. Channeling the simplicity and beauty of the great outdoors, their durable and quality pieces are infused with a distinct streak of luxury with carefully chosen features for everyday use.
“The thinking about Svenklas is to create products that are minimal, stylish, beautiful and just keeping things simple. Sometimes innovation is about taking things away. We saw an opportunity to innovate by using natural materials and creating products that are more design driven.” – Svenklas founder duo Nikhil and Nischal.
Svenklas – Industry
As per Technopak Advisors, the fashion accessories market of India was observed at USD 3.4 billion in 2014 and is estimated to grow at a CAGR of 12 percent to reach USD 10.6 billion by 2024.
Svenklas – Founders and Team
Nikhil Sharma and Nischal Sharma
Nikhil Sharma and Nischal Sharma are the founders of Svenklas. They both met at the workplace and became friends instantly due to their common Himalayan connection as one of them hails from Shimla and the other is from Dehradun.
They were friends first and business partners second and always shared ideas back and forth about things they loved, things they saw, brands, objects, architecture, and places to go. It was quite natural to start a business together for them. They have complementary skill sets, but also different ones, and that helped when there were just the two of them were trying to get Svenklas off the ground.
Svenklas – Startup Story
Svenklas started out by making lifestyle products from discarded materials like billboards that would normally end up in a landfill. They eventually had to pivot as they started to face raw material sourcing requirement issues. So, they started exploring and researching “non-fuel” based natural sustainable materials. This eventually led to Svenklas where they are creating technical lifestyle products of the future using innovative sustainable natural materials.
Svenklas – Mission and Vision
Svenklas is a design-driven sustainable luxury lifestyle accessory brand creating thoughtful products using plant-based natural materials for life’s everyday journeys. With sustainability at the forefront and inspired by the vast yet beautiful Himalayan landscapes and rich Nordic heritage, the company are on a mission to prove that aesthetics, design and sustainability doesn’t have to be mutually exclusive.
They found that anything synthetic materials can do, natural materials can do better. Channeling the simplicity and beauty of the great outdoors; Their minimal, functional and aesthetically appealing products are infused with a distinct streak of luxury with carefully chosen features for everyday use.
They are committed to creating products that would act as a vehicle for change and would speak to the generations of people who know the distinction between quality and quantity and also care about our planet. That’s the brand and mission of Svenklas.
Svenklas – Name, Tagline, and Logo
Svenklas company logo
The founders of Svenklas spent months looking for the apt name in English-Nordic dictionaries before they found the one that mirrored their vision for the brand. The name Svenklas is composed of two Nordic root words “Sven” + “Klas” which translates to ‘Victory for the Youth’ in Norse language.
The name also reflects their vision towards creating products that are rich in meaning, quality and story while focusing intently on aesthetics, functionality, natural materials, attention to detail and artisanal craftsmanship.
Svenklas – Business and Revenue Model
Svenklas primarily sells directly to consumers via its website. The other channels of revenue are 3rd party marketplaces like Tata CLiQ Luxury, Amazon, Flipkart, Ajio and Myntra. They also work closely with platforms like CRED, Paytm, PhonePe and Magicpin.
The other revenue streams include selling on curated marketplaces like Rooted Objects, Caelum, Vibecity and via exclusive brand partnerships. They’re also available in the US (online and offline) with a couple of retailers and a few dropshipping partners.
Svenklas – Products and Services
Svenklas was created to show that you don’t have to sacrifice style for sustainability and their collection is a testament that you can actually produce great looking products in a sustainable way.
The company is always looking to contribute towards considered, conscious and responsible design while challenging the role of functionality in design to deliver the highest quality products.
In today’s world, there is an acute shortage of natural resources which forced Svenklas to do away with thoughtless consumption, production and design. So, they’ve put their focus on practising sustainability and respect for the environment at all times without compromising the aesthetics.
Their collection is the love letter to sustainability and craftsmanship – from the pride that’s taken in making something sustainably by hand to the joy of owning a little piece of that magic. Their collection draws inspiration from raw Himalayan landscapes and rich Nordic heritage to create everyday products which are uncomplicated, long-lasting, modern and aesthetically appealing.
All of the products by Svenklas in the collection are made using 100% organic cotton or full-grain vegetable-tanned leather and all the synthetic fabrics contain recycled fibres. They’ve designed the collection for the urban city lifestyle and outdoor adventures alike.
Combining innovation with the inspiration provided by the timeless Himalayan landscapes that include wide unpopulated areas, waterways and dense forests alongside the modern urban way of life.
Svenklas have created a premium collection of products that includes a selection of styles from backpacks, tote bags, hip pack, messenger bags, briefcases to wallets for every occasion and adventure with a simplistic design aesthetic
A lot of things in life are utilitarian. So, there isn’t a lot of importance attached to them. Svenklas cared about backpacks which not many people cared about when they started, although everybody wore them. They had to break that barrier where people would pay importance to a brand that sells just only backpacks and also make them care about sustainability, materials, design and craftsmanship.
Svenklas – Growth
Svenklas relied heavily on influencer marketing when they started. It just happened that a lot of celebrities who they reached out to on Instagram really loved their mission, design and approach to sustainability that somehow convinced them to carry their products and then share pictures on social media. This really catapulted their brand among the initial target audience and that’s how they got their first 100 users.
Svenklas – Advertisements and Social Media Campaigns
The marketing campaign of the brand with Vicky Kaushal was hugely successful where Vicky carried our Hagen backpack to Serbia for the shoot of his film ‘Uri’. He posted about Svenklas and their Hagen backpack on his Instagram while he was in Serbia and that created a lot of buzz and helped them carve a little niche as a brand in the backpack category.
Svenklas – Awards and Achievements
YourStory Top 500 Challenger Brands of India 2021.
ELLE Graduates 2021 Sustainable Design Award finalists.
Our products are carried by celebrities like Vicky Kaushal, Sumit Vyas, Shriya Pilgaonkar, Sayani Gupta, Aisha Sharma, Mrunal Thakur and Angira Dhar.
They have also been featured in magazines and news portals like Grazia India, ELLE India, Times Internet, Homegrown, LBB India, Fashion Network and YourStory.
Svenklas – Competitors
Da Milano, Hidesign, Herschel, Bellroy are some of the top competitors of Svenklas.
Svenklas – Future Plans
Svenklas are soon planning to enter the apparel category with their t-shirts launch. As trends change, they’ve adapted to them, and now are building a product roadmap on how they can be relevant to the female consumer beyond just the unisex aspect. They are looking to add more feminine, smaller silhouettes and pay more detailed attention to how women are going to carry it
The company has grown multifold year on year since its inception in 2018. They are growing through their own means with a laser-sharp focus on unit profitability and will continue to reinvest profits into opportunities create more categories, go into more countries and retailers.
They will also continue to invest in social causes like their partnership with GiveIndia where they plant 2 trees for every Svenklas product sold. The future plans of Svenklas include further international expansion, new category launches, limited product drops, exclusive brand partnerships, working with social media creators, influencers and celebrity collaborations.
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 POPxo.
POPxo is India’s largest online community for millennial women to read, watch, purchase, and hang out, which was founded in 2015. POPxo brings a welcoming and empowering environment that encourages women to live their best lives.
POPxo is aimed to merge content and commerce, which started as content and eventually had its own private label brand. POPxo’s articles, videos, and social networking material are in six languages – English, Hindi, Marathi, Bangla, Tamil, and Telugu – which has attracted over 39 million monthly users who spend over 3 million hours across all of the company’s platforms.
POPxo also partners with the leading companies to increase its reach and engage its audience. The whole platform runs on the basis of content that fascinates young girls. Furthermore, it also features on its website, Bollywood news, life hacks, retail listicles and more.
POPxo was acquired by MyGlamm’s parent, The Good Glamm Group on August 7, 2020. The six-year-old company’s investors – Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital have joined the board of MyGlamm soon after the acquisition. Furthermore, Priyanka Gill, the founder of POPxo also joined MyGlamm as a cofounder. Here’s all about POPxo, its Founders and Team, Business Model, Revenue Model, Services, Funding, FAQs, and more.
POPxo – Company Highlights
Startup Name
POPxo
Legal Name
Luxeva Limited
Headquarters
Gurgaon, Haryana
Sector
Beauty, Health & Lifestyle
Founded
March 2014
Founders
Priyanka Gill and Namrata Bostrom
Parent Company
The Good Glamm Group
Operating Revenue
$1.61M in FY19
Funding
$12.4 mn (2021)
Number of Employees
251 to 500
Website
www.popxo.com
Popxo – Latest News
January 24, 2022 – Popxo parent, The Good Glamm Group acquires Organic Harvest, a beauty and personal care D2C startup led by Rahul Agarwal.
October 1, 2021 – Popxo enters the Indian cosmetic industry with a Makeup Collection from Myglamm.
POPxo has been founded in 2014 as India’s largest online community for women that offers discussions, content, and products across a wide range of domains including fashion, beauty, lifestyle, work, and more. Founded by Priyanka Gill and Namrata Bostrom, PopXo offers millennial women an excellent platform where they can read, watch, shop, and hang out. Along with exclusive products across brands, PopXo also offers text and video content in a manner that is accessible via social media on mobile and PCs across the web. PopXo has last reported having crossed the 9 million mark in terms of user acquisitions every month and has boasted of witnessing over 102 million monthly engaged content views.
Popxo was acquired by MyGlamm in August 2020 and has since served as a subsidiary of MyGlamm, which eventually turned into The Good Glamm Group in September 2021. The Popxo parent, MyGlamm includes The Moms Co, St Botanica and Sirona, along with other content platforms – POPxo, Scoopwhoop, and BabyChakra, as per January 2022’s reports, and has already turned unicorn in November 2021, thereby being hailed as the first beauty commerce unicorn company of India.
Popxo – Industry
The Indian industry comprised of online personal care and beauty brands and products are estimated to reach $4.4 billion by 2025. There is also likely to be a 4X increase witnessed in the number of shoppers of beauty and personal care products online, which was last reported to be 25 million in FY20 and would be going up to 110 million in FY25.
Popxo – Startup Story
The Popxo is founded by two dynamic women – Priyanka Gill and Namrata Bostrom. During 2012-13 there was no content platform at scale in English for women. So, this was the point when they thought of creating a useful platform for women and began Popxo in March 2013. Priyanka Gill first started Estylista in September 2013 in London for the NRI women, which is popularly known as the base of PopXo. For the first few years, the company started working out of London and raised its first institutional round of funding.
Initially, Popxo created content that enthused women who love to delve into fashion, beauty, lifestyle, wedding, relationships, work, fitness et cetera. The most popular things that attracted women to the Popxo website are hair and skin protection, and other products.
The greatness of the website lies in the production of 1500+ articles in six languages that the Popxo website was last recorded to be publishing every month. The team understood the audience well and presented articles in the same way, which lead to content creation to adding relevant videos. Today, the platform produces 60-70 videos a month and generates 100-150 million views a month. The duration of videos is between 3-7 minutes. Furthermore, they even produce web series.
Priyanka is the Co-Founder and President of MyGlamm and the Founder and CEO of POPxo and Plixxo. She lives in London with her husband and two children as a digital media entrepreneur and storyteller. She enjoys working with creative and entrepreneurial people, particularly women, and considers it a privilege to be in their company. She is now enrolled in a joint London Business School and Columbia Business School EMBA – Global program, said her Linkedin profile post dated May 24, 2021.
Her passion for writing merged with entrepreneurship when she started her own site, Estylista, which is now known as POPxo. She returned to India in 2014 to create POPxo, envisioning her company as a safe and engaging community that helps Indian women lead their lives. Influencer marketing seems to be on the verge of breaking out in India. As a result, she began developing a tech-enabled platform to take advantage of this enormous opportunity. Plixxo was released in 2017 and is powered by PopXo. It was here that India’s first generation of influencers grew up. Priyanka Gill has experience serving as a freelance writer and editor and an investor and board member for several companies. She eventually served as an advisor at PolkaRare and a seed investor of Kalamint, a role that she is still continuing with. She co-founded The Good Glamm Group on Darpan Sanghvi and Naiyya Saggi in September 2021 initially with the merger of MyGlamm, PopXo, and BabyChakra.
POPxo’s Plixxo also joined MyGlamm, India’s premier beauty conglomerate, in 2020, marking a watershed moment and a watershed year. Three powerful brands merged to form one incredible enterprise that goes by the name The Good Glamm, the parent company of MyGlamm in August 2020 and since then, Gill has been appointed as the Cofounder of the latter.
Namrata Bostrom was the co-founder of PopXo, who has also been the CEO of the company as well from the initial phase of the company and stepped down from the role in March 2017. Bostrom is an Economics student who has The University of Oxford and London Business School as her alma mater. Bostrom earlier served as a Consultant at The Boston Consulting Group, and as a Sales and Product Strategist at EDITED before co-founding PopXo. After leaving the role at PopXo, Namrata joined Facebook, the company that she is still aligned to as the Product Management Lead.
PopXo initially had a team of 15 people working together, which eventually grew to include more than 200 employees strong.
POPxo Founder and CEO – Priyanka Gill talks about POPxo
PopXo’s vision has always been “to build a content-community-commerce platform for women.”
The mission of the company was to help the users find their inner natural glow. Now, as a part of The Good Glamm Group, PopXo’s mission is aligned with the mission of its parent, which aims to build the global Digital FMCG Conglomerate of the Future.
Popxo – Name, Tagline and Logo
PopXo Logo
PopXo’s tagline has said, ‘Take it up a POP!’ – and we live and breathe it with everything we do.
Popxo – Business Model
Popxo targets millennial women aged between 18-35 with a range of products across diverse industries including fashion, beauty, lifestyle, wedding, wellness, and entertainment. The company has recently forayed into the cosmetics industry. The social community platform for women has entered the cosmetics industry, which is currently valued at $20 billion with a Makeup Collection by MyGlamm. MyGlamm has acquired Popxo towards the end of last year, and this development has come almost a year after that.
This new makeup collection is termed POPxo Makeup Collection by MyGlamm and will include nail kits, face kits, eye kits, and lip kits in order to cater to all makeup needs. The entire range is reported to be priced under Rs 499 per product in an effort to stay within the affordable limits for younger women. The Popxo Makeup Collection powered by MyGlamm will be sold on the MyGlaam app and website along with being available at popular company stores and kiosks across the country.
Popxo – Revenue Model
Sponsored content is the initial source of revenue. The company approaches brands and claim to have a large audience. Popxo knows what people want and can assist you in selling. The company made content for them, including social media and video content. That comes first while influencer marketing comes in second. Ads come in third, and e-commerce comes in fourth.
Popxo’s money comes from sponsored material, which accounts for half of our total. Influencer marketing accounts for 40% of income. They started selling online in the fourth quarter of the previous fiscal year.
Fashion– POPxo allows you to stay up to speed on the latest fashion trends by reading fashion articles and watching videos. Thefashion experts of the company provide the users with everything they need to stay on-trend, from styling advice to shopping hotspots and must-have items. The platform also offers the latest news on fashion in both western and Indian. It also provides the best tips and fashion hacks that suit you. This platform also offers the latest updates on celebrity attires (both Bollywood and Hollywood).
Beauty– The team of beauty specialists is committed to providing the users with the best services available in the industry. The beauty section has it all, from unbiased product reviews to makeup hacks to skin and hair care advice. The users get updates on skincare, makeup, hair, bath & body, nails, hair products, beauty products and DIYs.
Lifestyle– POPxo also offers related content from a wide range of topics. It provides the consumers with popular articles across all categories, from travel and education to sex and relationships.
Wedding– Wedding planning can be as stressful as you imagine, which is why Popxo is also there to assist. The wedding area keeps young brides-to-be up to date on the latest trends. POPxo has all you need to know about weddings, from bridal makeup to honeymoon ideas.
Wellness– Overall wellness, according to POPxo, is at the heart of a healthy lifestyle. So, if the consumers want to live a healthier life, check out Popxo’s wellness section which has articles on managing stress and maintaining a healthy lifestyle.
Entertainment– Popxo will make sure the users get the best of everything from the comfort of their homes on laptops or mobile phones, from movie recommendations to what’s going on in the lives of their favorite celebrity.
Popxo is home to all feminine things. POPxo’s online store, which includes items such as home decor, beauty, clothes, face masks, mobile accessories, stationery, rakhi presents, and more, is an attempt to make online shopping for women in India more enjoyable!
POPxo has raised a total funding of $12.4M in over 7 rounds of funding. POPxo is funded by 21 investors. Neoplux, IDG Ventures, Summit Media, Oppo, Kalaari Capital, STRIVE, Chiratae Ventures are the lead investors of POPxo.
Date
Round
Amount
Lead Investors
Apr 25, 2018
Series C
$5M
Neoplux, Oppo
Mar 1, 2018
Series B
$750K
–
Mar 16, 2017
Series B
$3.3M
Chiratae Ventures, STRIVE
Nov 5, 2015
Series A
$2M
500 Startups, Chiratae Ventures, Kalaari Capital
Nov 1, 2014
Angel Round
$500K
—
Jul 1, 2013
Seed Round
$300K
—
Popxo – Growth
PopXo grew considerably with a well-knit team of 33 people in its textual content team. Let’s look at some of the prominent milestones that PopXo managed to attain throughout the years:
It has drawn over 39 million users per month
PopXo has delivered content in over 6 languages
The startup has seen over 10.18 mn visiting its content across the mobile app in a month
PopXo claims to have 1.6 bn monthly social media impressions
Popxo – Startup Challenges
Founded by Priyanka Gill and Namrata Bostrom, ideating, founding, and growing PopXo was difficult for two independent women entrepreneurs, which both of them managed really well, earning themselves quite a name in the industry. The first challenge for PopXo was to expand the content it produced and the kind of content produced by the website. The challenge that followed was the creation of an app. Even here PopXo absolutely nailed it. The website witnessed an overwhelming 500K initial downloads!
Popxo – Competitors
Though Popxo, when it was launched, was the sole platform focused on confident and educated women, which speak to them directly without taking down to them, PopXo has been a lot of companies competing with it once it started achieving milestones. Some of the PopXo competitors can be noted as:
ScoopWhoop
Polka Cafe
BuzzFeed
The Business of Fashion
nippon.com
Luxe Radio
The Canberra Times
Popxo – Future Plans
Popxo forayed into the beauty segment with POPxo Makeup Collection by MyGlamm, where both MyGlamm and PopXo are a part of The Good Glamm Group in October 2021 and is currently targeting a revenue run rate of Rs 100 crore in the upcoming 12 months.
Popxo – FAQs
What is POPxo?
POPxo is an Indian online platform specially for women to read, watch, shop and hangout. POPxo covers content related to beauty, weddings, health and lifestyle.
Who started POPxo?
Priyanka Gill has founded POPxo in 2015.
Who is the owner of MyGlamm?
Darpan Sanghvi owns MyGlamm.
Does POPxo creates videos along with content?
Yes, POPxo is able to create over 2000 pieces of content along with 150 videos, 800 stories and a large number of social media graphics.
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 Zivame.
With male employees wandering around, confused salesgirls, and an air of shame surrounding the process, buying bras in India appears indeed agonizing for women. Zivame was started in 2011 to allow women to shop for intimate apparel without fear of being judged.
When Richa Kar, the creator of the online lingerie store Zivame, launched her firm in 2011, she set out to alter all of that. We observed the impact of this concept and how it helped women shatter stereotypes along the road. Kar’s site has 5,000 designs, 50 brands, and 100 sizes to choose from, but more notably, it provides shoppers with dignity and privacy.
Know more about the startup story, founder, business model, funding and investors, etc. of Zivame by reading this article further.
Zivame is an online retailer that sells women’s clothing and intimate wear. Women’s lingerie, swimwear, loungewear, nightwear, and associated categories are sold by the firm, which also offers consultancy to assist women to choose economical and branded items, allowing them to get all of their clothing requirements met in one spot, which is, the company’s online portal.
In August 2011, Zivame, an online lingerie retailer with hundreds of designs for the Indian woman, launched its website. Customers may shop by category, brand, colour, size, and even specify what they wish to wear their lingerie under! Zivame simulates the offline shopping experience by providing extensive product pages, low-cost rapid shipping, and a hassle-free return policy.
Whether you’re an Indian lady or a male, Zivame is dedicated to providing an online shopping experience that allows people to purchase at their leisure and in the comfort of their own homes. Zivame challenges expectations in the lingerie and e-commerce market by going above and beyond what customers have experienced in traditional lingerie businesses.
Zivame – Latest News
November 24th, 2021 – According to the latest regulatory filings to the Registrar of Companies, Actoserba Active Wholesale, which owns the online lingerie store popularly known as Zivame and is now a part of Reliance Retail, reported a 31% drop in sales to Rs 147 crore for 2020-21, while its net loss also decreased by 11% to Rs 42 crore.
Covid-19 affected Actoserba Active Wholesale’s business and revenue. The firm sells clothes, swimwear, lingerie, nightwear, sportswear, innerwear, accessories, textiles, fabric, ready-made dresses, and other forms of dress materials wholesale, including through e-commerce.
Zivame – Industry
Lingerie purchasing in India has gone a long way, from small crowded stores operated by confused sellers to sophisticated online portals staffed by fitting professionals. While the stigma around lingerie still exists, women have been more comfortable experimenting with and purchasing ‘intimate’ clothing in recent years. To a large measure, if not entirely, this tendency may be attributed to online lingerie businesses.
Buying intimate wear online allows customers to keep their purchases private and have them delivered surreptitiously; this is one of the primary advantages that online lingerie businesses have over physical stores. Discounts, availability of foreign brands, a wide range of designs, and different size options (from slender to plus size) have all contributed to the growth of the lingerie retail business.
Richa Kar earned her bachelor’s degree in engineering from BITS Pilani and her master’s degree in business from Narsee Monjee Institute of Management Studies in 2007. After graduating from NMIMS, she worked for Spencers and SAP retail consultancy.
Spencer’s hired her as a Brand Communications Manager after she completed her MBA. She was quickly promoted and stayed there until 2011 when she was hired as a consultant by SAP. She had the opportunity to work with Limited Brand, the company that owns Victoria’s Secret, during her tenure at SAP. Her meeting with the client was the catalyst for the creation of Zivame.
Zivame – Startup Story
Richa discovered that while shopping for lingerie from sellers of the opposite sex, ladies are hesitant to discuss their wants and desires. As a result of this, women have difficulty determining what size and style to wear because no one is there to assist and educate them. She found the solution to the problem while keeping the problem in mind. She created an e-commerce site for women with many categories that would not only bring lingerie to the buyer’s home but also educate them on how to find the best style and fit.
The company sells more than just lingerie; it also sells women’s clothes, fitness wear, and sleepwear. The company is also recognized for providing exceptional customer service.
Richa has always maintained a laser-like concentration, approaching product mix decisions as if she were a buyer. Price, quality, immediate and unambiguous feedback on the goods, cash-on-delivery service, and a simple return/exchange policy have all helped purchasers grasp the brand and gain confidence.
Richa started up her office in 2011 and received her first order 5 hours later. She currently has 2.5 million monthly clients and sells two things in under a minute. Richa Kar’s Zivame journey influenced the entrepreneurial system since her proposal was not unique but also controversial.
Zivame – Vision and Mission Statement
Zivame’s vision statement says, “To Offer Every Woman the Confidence, Comfort & Choice She Deserves. Confidence is sexy and we want to help women find it, wear it, and be it every day.”
Zivame – Employees
Amisha Jain – CEO
Yash Dayal – Chief Technology Officer
Jayesh Nair – Head of Facilities Management
Arun Kumar – Associate Director Business Development & Projects
Chetna Bhaskar – Creative Director
Manab Hembram – Creative Director – Design & Product Development
Sirisha Tadepalli – Marketing Director
Sourav Kejriwal – Director Finance
Aditya Mulay – Regional Sales Manager
Astha Sahay – Business Manager – Partner Business Ecom
Zivame – Business Model, and Revenue Model
The firm suffered management reshuffles in the early years, and since 2017, it has concentrated on developing sustainably by combining online and physical techniques. As part of its omnichannel marketing approach, Zivame has opened several brick-and-mortar storefronts known as “Fit Studios” around the nation.
Zivame Store
A completely integrated shopping experience from the physical store to the virtual store, including mobile applications and the entire range of options given by the offline and online worlds, is what an omnichannel marketing strategy entails. The goal is to provide a seamless purchasing experience for them.
Individuals are more affected by images than by text. Zivame used a lot of attractive photos of their product range, which made it difficult for their target demographic to navigate. All of the bargains are linked on the Facebook page and advertisements, directing people to the website. Visitors’ inquiries were promptly answered.
Individuals were able to develop a bond with the brand as a result of this. What appears to have worked particularly well for Zivame was its approach to its product range, which allowed clients to select the best match.
Zivame – Funding, and Investors
Throughout eight rounds of financing, Zivame has generated a total of $69 million. Their most recent fundraising came through a Secondary Market round on July 28, 2020.
Date
Round
Amount
Lead Investors
Jul 28, 2020
Secondary Market
–
Reliance
Sep 17, 2019
Venture Round
$2.7M
Avendus Capital, Zodius Capital
Apr 9, 2019
Debt Financing
₹600M
Trifecta Capital Advisors
Mar 30, 2019
Series C
₹600M
The Allana Group, Zodius Capital
May 28, 2018
Venture Round
–
Zodius Capital
Sep 3, 2015
Series C
$40M
Khazanah Nasional, Zodius Capital
Dec 10, 2013
Series B
$6M
Ronnie Screwvala
Mar 14, 2012
Series A
$3M
Chiratae Ventures
Zivame – Growth
The firm suffered management reshuffles in the early years, and since 2017, it has focused on developing sustainably by combining online and physical techniques. As a consequence, Zivame’s losses in FY19 decreased by roughly 39%, to INR 19.56 Cr from INR 32.11 Cr in FY18. In the fiscal year 2018-19, the firm recorded total revenue of INR 141.89 Cr and total costs of INR 160.01 Cr, according to the company’s filings.
In terms of revenue, Zivame’s main source of income is product sales, which totalled INR 137.42 Cr in FY19, up 59.49 per cent from INR 86.16 Cr in 2018. The pace of growth is comparable to what we witnessed last year when the firm reported a 56 per cent increase in sales. In addition, the company’s service sales remained unchanged at INR 48 lakh, while other revenue fell to INR 3.98 crore.
According to Zivame CEO Jain, the company’s annual run rate for FY20 has reached INR 340 crore. Jain further stated that revenues via Zivame’s mobile application had climbed from 50% of total sales in FY18 to 65 per cent in FY19.
“Challenges lay at every point- First with the category itself – There is a lot of discomfort surrounding the lingerie as a category in India. The hushed or the suppressed nature of the category, has led to various myths and misconceptions getting attached to it,” said Kar.
She went on to say that she was confident that Zivame had the answer to tens of thousands of Indian women’s lingerie issues. However, there was an uneasy ten-second quiet when she informed someone about it. The next stage was to incorporate the business, obtain a payment gateway, and lease office space. Each of these processes was difficult due to the nature of the industry in which the company works.
In 2015-16, the corporation experienced one of its most significant problems. In the financial year 2016, the company’s overall net loss increased by 84 per cent, amounting to almost 54 crores.
“To our astonishment, offline sales have returned to pre-Covid levels a few months ago,” said Amisha Jain, Zivame’s CEO. Reliance Brands is one of the owners of the digital-first retailer, which has opened roughly 24 new outlets in the previous four months and wants to treble the number in 2021.
“By the end of next year you will see us with about 150 stores and we are going to be expanding through other formats as well,” added Jain.
According to Zivame CEO, Amisha Jain, the firm is poised for exponential growth in the next years because of technology, analytics, and innovation.
Zivame CEO – Amisha Jain
She predicted that the firm will increase by more than 75% in the following several years. The firm is focusing on four areas to fuel development, according to Jain: ongoing product innovation, exceptional user experience, omnichannel presence, and its new brand identity.
Zivame – FAQs
Is Zivame an Indian brand?
Yes, Zivame is an Indian online lingerie retailer founded by Richa Kar in 2011.
Who is the owner of Zivame?
Richa Kar is the founder of Zivame.
Is Zivame owned by Reliance?
Reliance Brands acquired a 15% stake in Zivame and is eyeing to buy a 100% stake in this online lingerie retail brand.
Which companies do Zivame compete with?
Top Competitors of Zivame are Shyaway, Clovia, Boux Avenue, Andra Group, ThirdLove, Adore Me, Figleaves, and Change.
Would you wear a counterfeited shoe, if nobody else around you can tell if that is fake or not? The answer may vary as it is a very subjective thing. However, we can note that most people will say yes. The reason is simple. Brands are super expensive and if you want to look trendy and all cool, then you might want to consider counterfeited stuff. A counterfeit good is relatively highly cheaper than the original. Not only this, but the fake product will also look exactly the same as the original product, making it more likely to be bought.
I bet you have already seen counterfeits or fakes of originals, even for once in your life. They are quite everywhere. You can find ‘Air Jordans’ at a price of a cake, a ‘G-shock’ bad copy at about four dollars and Adidas apparel at a local market. All of these are obviously fake or counterfeited to look almost exactly the same. The quality? not at all the same. This article is about the unseen black market of counterfeits at the global level. Read on to know how and why their business is booming and how you can not fall for them.
“Almost all absurdity of conduct arises from the imitation of those whom we cannot resemble.” ― Samuel Johnson
Counterfeited goods are goods that are not original. They look the same and has all the features but are fake. The hype for fashion brands is so much all around the world. This hype has led to people trying to tap into the market with copies of the original. The fakes look the same with no guarantee of quality.
Not to mention, counterfeiting is a crime and has legal consequences. Most of the time, a counterfeit uses the very mechanism that a consumer uses to buy original brands. They use the brand name, logo or a phrase that only the real and original company uses to fool customers. For example, the famous “Just do it” phrase of the sportswear brand Nike is hugely counterfeited to lure people into buying fakes.
Knock Off of Nike Airforce One
Brands such as Adidas are also not lagged behind in this, they are copied too. Fake producers or manufacturers try to steal the very authenticity of a brand and in doing that deceive people with fakes.
In Fact, the most copied brands are those brands whose market value is high. For instance, the most counterfeited brands are – Nike, Louis Vuitton, Gucci, Rolex and Prada. All these brands have the best goodwill in this world.
Counterfeiting, as mentioned before, is a fraudulent imitation (a forgery) of a trusted brand and product, and it is considered a serious crime. Under U.S. federal law, criminal counterfeiting offences can be punished for life (in the prison) and up to $30,000,000 can be asked to pay in fines. Counterfeiting can also be prosecuted as a felony (acquisition or concealment) in most states in the United States.
Why Do People Buy Counterfeits?
There can be many reasons why people buy counterfeits. However, there can be many common and obvious reasons for people buying counterfeited products, the list surprisingly does not end here only. Among all the reasons that are common let us discuss every reason why they do this. Let us dive into why this type of industry is booming without any sort of recessions,
Cheaper in price
This one is an obvious reason. People tend to turn towards products that are fake because they are much cheaper. They are much cheaper than the relative original products. For example, a counterfeit bag can be purchased for 12 dollars while the original branded bag may cost as much as $500 dollars. This huge price gap makes brand lovers move to a counterfeited product and thus this keeps the industry of fakes moving.
Latest trends
We live in a world that is changing at a super rapid pace. Not only technology is becoming obsolete fast, but fashion also is not behind in this race. You jump on to one trend and voila! There is another trend waiting to happen. The fashion world has also turned into a hyper changing world. Everywhere you go you see fashion trends, be it on print media, social media and whatnot.
Making a fashion statement every time you go outside can be hazardous to your pocket. This is not a bad trait or a bad thing. Everyone is just trying to look cool and stay on the trend that’s running elsewhere. Sometimes this pressure to stay in the trend can lead a person to buy first copy products. It is easier on the pocket and makes you the centre of attention instantly.
Ignorance at work
In this modern era, where we jump to a website for even small little things, it is normal to fall for fakes. Anybody can sell anything online, without much of a hassle. Sometimes what happens is that people buy products online believing that they are buying an original.
Many times, they are sold counterfeited or knockoff products that can lead to a damaging effect on the original brand name. While people buy it in ignorance, the revenue generated by these deceptive businesses is often quite huge.
A famous example can be taken off Amazon. Anyone can sell anything on Amazon without much pre-requisite. This has taken hostage the hopes of many online shoppers and now they only believe the brand’s original website.
Types of Counterfeits
Any product that steals the charisma of a reputed brand is a counterfeit. However, when it comes to the legal aspect of counterfeiting, the definition has many types and turns. We are trying to discuss some of them here.
Piracy
Piracy is the most common type of counterfeiting that involves people obtaining copies of the original work, and that is done without the maker’s permission. They copy it from the internet, or they download it from somewhere (If that is a digital asset).
Piracy is a big problem for all artists in and around the globe. Music can be made freely available easily and that too without the artist’s permission. It is the same with sneakers, same with clothing and all sorts of accessories.
There are many laws to protect it like one that says – Making unauthorised copies of copyrighted music recordings is against the law and may subject you to civil and criminal liability. A civil lawsuit could hold you responsible for thousands of dollars in damages. Criminal charges may leave you with a felony record, accompanied by up to five years of jail time and fines up to $250,000 (Title 17, United States Code, Sections 501 and 506).
Trade Secret Infringement
A trade secret, as the name suggests is a set of rules or checkmarks that a company follows internally for its products. The secret formula for Coca-Cola, which is locked in a vault, is an example of a trade secret that is a formula or recipe.
Coca-Cola secret vault
Usually, patent infringement and trade secret infringement go hand in hand and they happen together. If that secret of a brand is made public then, it will have a catastrophic impact on the brand value of that corporation.
Patent Infringement
This law is broken when someone breaks the rules of someone’s patent. A patent can be defined as a contract that excludes or stops others from making, using, or selling an original invention by the patent holder for some years. If someone does anything against that patent, that is known as patent infringement and is liable for punishment or penalty as the law suggests. However, it is to be noted that patents are territorial in nature.
So that means, if a patent is registered in the United States, then anyone in the United States is prohibited from disobeying the patent. However, elsewhere in the whole world, the invention can be exploited to any extent in their country where the patent is not registered.
The Market Size of the Counterfeit Industry
The industry’s scale of counterfeited goods is as big as the fashion industry itself, if not bigger than that. The hype of fashion and trendy wear is so much and thus they invite fakes from every nook and corner of industries.
According to the International Anti Counterfeiting Collision (IACC), the total market value of all the counterfeiting sold products all over the world, was 1.5 trillion dollars in the year 2015. This is a huge old number and we can only assume how much in magnitude it is growing and at what pace.
If we talk about scaling the counterfeit industry at the global level, the numbers will be shocking. The global counterfeiting industry is literally expected to hit the $4.2 trillion mark by 2022. Moreover, with these skyrocketing numbers, fashion industry losses are also skyrocketing.
The fashion industry according to reports lost about 50 billion in 2020 alone, due to the sale of fake products. Clothing, as we note later on in this article, appears to be the most counterfeited product in the market. They are followed by the products in the cosmetic industry, personal care, watches and jewellery, luggage and luxury handbags.
The growing importance of intellectual property rights in knowledge-based economies has generated concerns about the potential adverse effects of counterfeiting and piracy on governments, rights holders and consumers. Footwear is the most counterfeited category amongst all.
A recent OECD study on counterfeiting and piracy (in 2008) attempted to quantify the scale of the effects due to these illicit activities. This study focused on the infringement, through counterfeiting and piracy, of trademarks, copyrights, patents and design rights, to the extent that they involved physical products.
Counterfeiting is not a small business but is a very big and scalable business. It can be stretched to any point if not checked and regulated. In the Fiscal Year 2020, the Department of Homeland Security seized over 26,000 shipments of counterfeit goods valued at over $1.3 billion at U.S. borders. This is just random news of one locality but globally the counterfeiting industry is so huge. Not just on the producing side but as well on the consumption side. The trends of growth in the global counterfeit market are led by consumer demand and then an equivalent supply comes out of the blue.
Total Value of Seized Counterfeit in 2016 by Industry
What is the Effect of Counterfeiting Products on Luxury Brands?
This is obvious to note that when a counterfeit is sold in the market and someone purchases it, the loss is borne by the original brand. The original brand whose products are being counterfeited has to bear the loss of revenue due to the fake product. Each and every sale of this type further and further decreases the profitability of brands.
Sales Losses due to Counterfeit Goods
We can easily see from the above graph that the most counterfeited products are in the clothing industry. The reason can be easily ascertained in a manner that “clothing” is the most visible item of attire. So people love to buy these products that are noticed easily without further (and forceful) flaunting. The second most counterfeited item lies on the face of pharmaceuticals all over the world. All these cause losses of real cash for globally reputed brands.
What’s in the Logo? (The logo game)
Fake vs Original Nike
A logo is the main point of identification, it is the first thing that people notice. It also works as a differentiating factor from other products. Thus, it acts as a quality stamp for a product or service or even experience.
Honestly, it’s all about the logo. A famous logo helps connect instantly with the values that the brand follows. It is a super important thing to be working at because it is the first impression. It is literally the first impression that customers get of the brand. If it is bad, it will lead to a bad impression and if it is thoughtfully made then it will lead to a good first impression.
A first good impression then can lead to a customer walking in your store and then most probably buying something from you. It’s memorable, acts as a separator, and even customers expect it.
Business people or entrepreneurs spend a good amount of time and money on making designs for their brands. They know how crucial they are in building a brand image out there in the public. All the things have to be taken care of while making a brand logo, be it the size of the logo, the story it tells, the colour it wears and much more.
Speaking of counterfeited goods, a logo is their main attraction. The quality might not match with the real original product but the logo is mostly a work of fine art. People buy it for that specific purpose only, they just want to look good from a distance. No one checks the quality of a product, the logo is the only thing that shines and can communicate fashion trends.
After-Effects of Counterfeiting
Once you buy a fake product and show it off to your circle of friends, the story doesn’t end here. There are many after-effects to it. The most common and easily seen effects that can affect you are listed here –
Stealing taxes
The counterfeit product not only costs some bucks to the company or to you, but it also costs the city where you reside. Why do you ask? Because counterfeiting people don’t pay taxes. Tax comes from products that are rightfully made and supplied, it comes from legit sources and legit manufacturing. All these aspects are not present in the fake market, so it is clear stealing of taxes.
It’s Illegal
This point has been seen over and over again in previous paragraphs, that it is illegal to manufacture fake products and it is also illegal to buy and promote fake products. It hurts the company that puts in all the original efforts to make and market the products. This hurts the creative process and literally every process (Unique to itself) that the company goes through to get the product on to customers.
Health Hazardous
Again, any fake good or product of any sort can be hazardous to your health. As we saw in the above graph, the pharmaceutical industry is the second most counterfeited industry. This raises concerns about which medicines are real and what are fakes. If chosen wrong, they can be bad for your health. So, a small discount can go a long way in deteriorating your health.
Brand’s Response to Counterfeiting
In the year 2017, top sportswear brand Nike thought of selling its products (shoes and clothing mostly) via Amazon. They were determined to cut off the fake products being peddled over Amazon. Soon after, they had to cut off the strategy and they began to pull out all their ties with Amazon. The reason was again “fake counterfeits”.
Amazon even tried to filter out all the fake names but it didn’t work. Even after delisting, the fake stores popped up again on the website with another name. Due to the high magnitude of fakes in the Amazon market, Nike’s originals were even badly rated.
Since then, Nike has been investing in customer relationships with direct connection to them and thus on brick and mortar stores. Nike has been investing in creating new store formats, such as a 68,000 square foot flagship store in New York.
Nike Store
Nike’s response denotes what the brands are doing in this regard. While they can’t shut each and every counterfeit producing entity, what they can do is educate their customers. That is what brands are doing, they are trying to reach out to customers directly. They are investing in brick and mortar stores, maintaining their websites like there is no tomorrow etcetera.
All these tricks are working too, they are able to capture quality customers. Now, people who want to buy originals know where to get them. The most trusted way to buy any genuine product still remains the brand’s website and its brick and mortar stores. This is the way out, to educate customers.
Another way is to track every item the brand produces, all its appearances and where they live at the moment. To note everything also includes leveraging new solutions, like the blockchain. Louis Vuitton is working closely with Microsoft and ConsenSys to create the Aura Ledger, which will closely trace the origins of their luxury products.
The industry’s size of counterfeited or first copy products is as big as the fashion industry itself, if not bigger than that. The hype of fashion and trendy wear is so much and thus they invite fakes from every nook and corner of industries.
The game of counterfeits is run by the fashion trends and the people who will go to any length to hop on every trend wave. Any fashion that changes rapidly is known as fast fashion. In this ever-changing world, fast fashion is the keyword in any fashion industry across the globe.
The hype around these topics and the urge to look good at any cost are setting the fuel for counterfeit markets. The price of these fakes have eventually to be paid by originals and the middlemen who manufacture these products get to earn some real quick cash. However, some believe that these counterfeits are free marketing for the originals but the big picture tells a different story.
Nike’s are the most copied brand and this establishes some curiosity to try out the real originals. Whatever is the conclusion on the counterfeiting industry, we know that it is fishy in quite every sense. Henceforth, when you want to buy some trend-setting products, go to the store directly or shop from their official website.
FAQ
How big is the counterfeit industry?
The counterfeit industry is worth more than $500 billion.
Which country imports the most counterfeit goods?
China is the biggest exporter of counterfeit goods with on the top with estimated half-a-trillion dollar worldwide imports of counterfeit and pirated goods.
What is the most counterfeited brand?
Rolex is one of the most counterfeited brands in the world.
Preeti Karna
