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Tag: handicraft

  • Etsy – Start your Small Business Today!

    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 Etsy.

    Everyone has vintage products, handmade things, crafty goods, etc., but there is always a shortage of such products. Money is not always the key to reach towards the things desired. People need to enter the right place at the right time. This is the only way to find out extraordinary things.

    Leading Sellers on Etsy Worldwide in 2022
    Leading Sellers on Etsy Worldwide in 2022

    Etsy is such a place that especially focuses on handmade, vintage, and craft supplies. These three sections have got some categories within them. Here is the Etsy success story and exactly how it works!

    Etsy – Company Highlights

    Startup Name Etsy
    Headquarter Brooklyn, New York, US
    Sector E-commerce
    Founders Rob Kalin, Chris Maguire, Jared Tarbell, and Haim Schoppik
    Founded 18 June 2005
    Website etsy.com

    Etsy – About
    Etsy – Startup Story
    Etsy – Founders And Team
    Etsy – Logo
    Etsy – Business Model
    Etsy – Revenue Model
    Etsy – Funding And Investors
    Etsy – Growth
    Etsy – Competitors
    Etsy – Future Plans

    Etsy – About

    Etsy is an American e-commerce company that has a wide range of categories. It includes bags, clothing, jewelry, furniture, toys, art, and tools. The specialty of the company is that it provides vintage, handmade, and crafty supplies to its customers. All vintage items available on the website have got the least age of twenty years. The present CEO of Etsy is Josh Silverman.

    The Guide To Start Your Business On Etsy From Beginner to Expert
    Etsy is a unique marketplace for handmade items, vintage goods, and craftsupplies. Whatever objects you love to craft, no matter what niche, there arehuge customers out there looking for your product, and most of them are browsingon the Etsy marketplace. You’ll find a community of makers, small-b…
    StartupTalkySouvik Dey

    Etsy – Startup Story

    In the year 2005, the four founders of the company started Etsy in a Brooklyn apartment. The company started as a virtual storefront for arts and crafts. The actual vision of the four founders was to help the craftsmen sell their goods on an online platform. Rob Kalin, a founder of the company removed himself from the day-to-day operations. After a lot of struggle, today the company is an artisanal marketplace.

    Etsy – Founders And Team

    Rob Kalin, Chris Maguire, Jared Tarbell, and Haim Schoppik are the Etsy Founders.

    • Rob Kalin is one of the Founders of Etsy. He was the CEO of the company from December 2009 to July 2011. His CB Rank as a person is 4,224.
    • Chris Maguire was the Co-founder and director of Etsy from December 2004 to August 29th, 2008. Now, he is the chairman and CEO of Cypress Equities.
    • Jared Tarbell is an entrepreneur. He is the Co-founder of the company Etsy. His CB Rank as a person is 76,313. He completed his education at New Mexico State University in the year 2000.
    • The founder of Etsy Haim Schoppik is also an entrepreneur. His CB Rank as a person is 6,161.
    Rob Kalin | Etsy Founder
    Rob Kalin | Etsy Founder

    Etsy has a simple logo with the words Etsy written on it.

    Etsy Logo
    Etsy Logo

    Etsy – Business Model

    The Etsy business model is that of an e-commerce marketplace. It enables artists to sell handmade unique products. Handmade products do not interest all. This platform is especially for those few interested and selective people. The business model of the company is almost like eBay or Amazon.

    But the difference here is Etsy provides amazing value to both its buyers as well as sellers. The business model of Etsy is a vertical one. It only focuses on handmade items. The company has got an android app, a website, and an iOS app to sell its products.

    How To Start An Etsy Shop: A Complete Guide
    This post is no less than a comprehensive guide if are looking to set up an Etsyshop from scratch. Setting up an Etsy shop can seem a little bit overwhelming. By the time you are done reading this post, you will become familiar withcreating an Etsy shop. As of 2019, more than 2.5 million dealers…
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    Etsy – Revenue Model

    The Etsy revenue model is unique.

    Etsy charges sellers to list items on its platform. The fee is meager for listing items. It is $0.20. The money paid is valid for four months. So, it’s a big point for the sellers.

    Etsy charges a commission fee for every sale, 6.5% is the fixed commission fee. Sellers have got the option of setting their own desired sale price. But Etsy cuts a commission of 6.5% from the sale price as mentioned above.

    Etsy – Funding and Investors

    The company has raised a total amount of $97.3 million in funding over nine rounds. The latest funding round took place on May 15, 2017.

    Date Transaction Name Money Raised Lead Investor
    May 15, 2017 Post-IPO Equity – –
    May 22, 2014 Private Equity $5.6 million –
    May 9, 2012 Series F $40 million Index Ventures
    August 26, 2010 Series E $20 million Index Ventures
    January 1, 2008 Series D $27 million Accel
    July 1, 2007 Series C $3.3 million –
    January 1, 2007 Series B – –
    November 1, 2006 Series A $1 million Union Square Ventures
    June 18, 2005 Angel Round $400,000 –

    Etsy has got 19 investors and TGP is the most recent investor.

    Etsy – Growth

    The company is trying its best to grow bigger. Etsy announced that they would start advertising on behalf of the sellers. It is also changing many designs to boost sales and show growth to its sellers. In the year 2015, Etsy hit the stock market. Investors were super excited at that time by seeing the potential of the platform. The company is willing to provide a fascinating look to an idealistic group of people. They are also trying hard to fulfill the demands of the public market.

    Etsy – Competitors

    The top competitors of the company are Shopify, Big Cartel, Zibbet, and Handmade at Amazon.

    • Shopify is a Canadian multinational e-commerce company.
    • Big Cartel is a unique online store. It helps people run creative businesses.
    • Zibbet is a marketplace. It helps people to know more about artists, entrepreneurs, and creativity.
    • Handmade at Amazon helps people to shop for handcrafted home decor, jewelry, accessories, and many more gifts.

    Customized Gift Store Start-up Plan: Things You Will Need To Initiate
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    Etsy – Future Plans

    The company has got a long-term strategy. The goal was, is, and will be to bring unique and creative things to the market. They have plans to deliver sustained growth. The company believes that four elements will help them grow its business better – a collection of unique items, first-class discovery, human connections, and trusted brands. These four things are very essential for a company. This applies not only to Etsy but also applicable in other companies to enlarge their businesses. Chief Financial Officer commented in a meeting that he and his team believe that product improvements have taken place.

    Conclusion

    Etsy is an e-commerce platform that focuses on handmade, vintage, and unique items. It allows small business owners and independent creators to sell their products to a global customer base. It has become a popular destination for unique and handcrafted items.

    FAQs

    What is Etsy?

    Etsy is a US-based online marketplace where anyone can sell handmade products.

    Is Etsy Available in India?

    Yes, Etsy is available in India.

    Is Etsy owned by Amazon?

    No, Etsy is an independent company.

    Who founded Etsy?

    Robert Kalin, Chris Maguire, Haim Schoppik, and Jared Tarbell founded Etsy on June 18, 2005.

    How much does it cost to use Etsy to sell?

    Etsy will charge you $0.20 for listing each item and a 6.5% transaction fee for every sale.

  • Launching a Startup in Handicraft Market: Challenges & Solution

    This article is contributed by Mr. Meet Shah, Founder of Craftezy.

    Entrepreneurship as a concept has picked up pace over the years. The excitement and the pride associated with launching one’s venture and finally converting that dream into a reality is indeed indescribable!

    The effect of the pandemic on the Indian handicrafts sector –

    As much as the journey is a roller coaster ride, it is full of roadblocks as well. This is mainly witnessed in the handicrafts sector. Ever since the pandemic outbreak, the livelihood of artisans and the handicraft community has been impacted severely. The production hit the pause button, unsold inventory started piling up, and the demand for orders from the customers came to a halt. Businesses also faced a lack of capital with reinvesting and continuing the operations. To sum up, the community witnessed a dearth where the meager survival of artisans was in danger. In such a scenario, launching a startup in the handicraft community seems to be a daunting task.

    Roadblocks faced in the path of launching a startup

    The Indian handicraft segment is a highly unorganized market. Consequently, the gap between sellers and buyers remains prominent at the global level. One of the significant challenges an entrepreneur faces while launching a startup in this sector is bringing decorum to a chaotic market. Adding to it, the industry also envisions offering equal growth opportunities to both sellers and artisans, and this aim comes with its fair share of challenges.

    As most sellers hold a strong presence in the local markets and not the global marketplace, it’s a significant hurdle for them to help reach international audiences. Providing solutions for payments and keeping a check on the quality of the products is another major hurdle for the sector, which is primarily driven by exports and is addressed as an export-centric business. The authenticity of crafts and having a robust logistics model are other major road bumps faced by startups planning to enter the handicraft ecosystem.

    While the challenges disrupt the optimal functioning of the sector, they also come with a silver lining. They have eventually paved the way for the digitization of the handicraft sector. A segment that was always working with a brick-and-mortar model is now undergoing significant transformations. Realizing that to thrive through the troublesome situations and enjoy a competitive edge in the market, technology deployment is essential; the players have been focusing on introducing innovations and digital transformations in their operations.

    Digitization: The feasible solution and the dire need of the hour

    In an attempt to sail through the turbulent times induced by the pandemic, the sector is embracing digitization. The industry is hopeful that adopting technology will create employment opportunities and help businesses drive more significant revenues. The players are also focusing on leveraging the power of technology to bring convenience to the doorstep of their customers. While on the one hand, tech solutions have made payments smooth, quick, easy, and secure, on the other hand, the logistics and the marketing activities have also boosted exponentially, all thanks to technology!

    Digital deployment has enabled the handicraft ecosystem to tap the global markets, and the players have been able to engage and establish a customer base at the international levels. On the whole, with the tech revolution, the handicraft sector has been upscaling significantly and will help in easing out the journey for aspiring entrepreneurs to launch their startups in this domain. Technological disruption will also help streamline the unorganized sector into a structured one.

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    Craftezy, one of the leading B2B marketplaces, has successfully understood the pain points of the handicraft industry. Ranging from authenticity and credibility of the crafted masterpieces to ensuring equal compensation for the sellers and educating them about the crafts’ business models, the brand has designed its offerings to ensure the players have access to apt solutions for the problems faced by them. Understanding the needs of the buyers and the sellers and the diversely growing preferences of the customers, Craftezy leaves no stone unturned to come up with viable solutions that are suitable for all! Becoming an end-to-end solution for sellers and buyers implies ensuring the provision of a platform that would simplify and ease out the operations of businesses.

    Conclusion

    As much as ‘Vocal for local’ and ‘Make in India’ campaigns are boosting the handicrafts sector, there are various hindrances in the journey for startup launches. However, the answer to all the troubles is digitization and collaboration with the marketplaces! A recent report by IMARC Group points out this trend and states that the Indian handicrafts market is projected to witness significant growth in the times ahead, primarily due to the surge in the e-commerce industry.

    Ensuring that the entire process of buying, selling, and delivering is fool-proof and error-free is one of the most appropriate ways to gain consumer trust. This would eventually lead to customer loyalty and increased revenues. Furthermore, providing marketing support to an otherwise un-exposed form of business would help small enterprises to tap the international market. This is the reason why marketplaces are rendering a helping hand in providing solutions. They are giving relevant opportunities to aspiring entrepreneurs and are helping them mark their presence in the market. These platforms take care of the entire buying and selling processes, transactions, along with end-to-end operations in a seamless, safe and secure manner.

  • Vedas Exports – A Décor that illuminates the Timeline Between Old Classicism & Trendy Modern!

    Handicraft has been a widely enamored and respected art form since time immemorial. It is said that the people who have crafting in their blood are the masters of this art. India is world-renowned for its art and craft. A plethora of artistry and artisans can be found in the various states and provinces of this country.

    Founded by Mr. Palash Agrawal, Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market.

    Vedas Exports – Company Highlights

    Startup Name Vedas Exports
    Headquarter Ranchi, India
    Sector Handicrafts & Decor
    Founder Palash Agrawal
    Founded July 2014
    Website vedasexports.com
    Contact info@vedasexports.com

    About Vedas Exports and How it Works
    Vedas Exports – Target Market Size
    How was Vedas Exports Started?
    Vedas Exports – Name, Tagline, and Logo
    Vedas Exports – Product/Services
    Founders of Vedas Exports and team
    Vedas Exports – Business Model and Revenue Model
    Vedas Exports – Startup Launch
    Vedas Exports – Growth
    Vedas Exports – Startup Challenges
    Vedas Exports – Funding and Investors
    Vedas Exports – Competitors
    Vedas Exports – Future Plans
    Vedas Exports – Founder’s Advice
    Vedas Exports – Technology Stack
    Vedas Exports – Recognition and Achievements

    About Vedas Exports and How it Works

    Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market. Vedas Exports believe that beauty is a combination of both the internal and external qualities of daintiness and authenticity. Therefore, all the artifacts are created with a steep approach towards quality management.

    Handmade bags, paintings, woodcraft, t-lights, and artifacts made of bell metal and wrought iron are the masterpieces that the company is proficient in supplying. Its focus is to bring excellence in the work and feel privileged to offer a wide range of aesthetic handicrafts and home decor to valuable customers in any corner of the world. Designs, values and ethics – these are the three priorities, Vedas vouches for in the market.

    Vedas products - Arindam Tree and Wall art
    Vedas products – Arindam Tree and Wall art

    “Our vision is to reach every single town and each seller dealing in décor. We wish to make every house, restaurant, hotel, etc. display at least one piece of décor from Vedas, in our aim to make India self-reliant and not import handicrafts or décor items from abroad”, says Palash Agrawal, founder of Vedas Exports.

    Currently the company operates in the B2B module, by supplying to the offline branded stores and currently due to the current situation also selling their stuff online through various modules like social media and online e-commerce platforms. But its mission is to create 60 offline stores by next year, in both franchise and own store modules.

    Also read: Fanzart Fans – Designer Fans for Designer Homes

    Vedas Exports – Target Market Size

    So far, Vedas Exports is present in 700+ stores across India and 500+ stores abroad. While its market share is currently in the range of 7-9% across India, the company’s target is to reach 40% within the next 2 years. With the current pandemic-led lockdown making people stay and spend more time within the confines of home, we expect a growth in demand for décor and a bigger market in times to come.

    How was Vedas Exports Started?

    Having spent 8 years in boarding school and the United Kingdom for his undergraduate and postgraduate studies, Palash has been away for quite a long time. Yet, belonging to business family meant business was in his genes, while he always aspired to do something very different and contribute to society.

    “My father has been my inspiration in my idea of exploring the world of décor, to start my own brand Vedas Exports and etching a strong foothold in the market. Initial days were tough though, and we used to hit and try many products from different states in India. But traveling across the globe made me realize that we can transform ancient décor in a blend of modernity and market the same. I remember selling just one piece in the first month of starting my factory. Today, we are selling above 10000 pcs per month and run a complete unit, based in Jodhpur”, recalls Palash when talking about how Vedas Exports was started.

    Relevant read: Mukesh Ambani Is All Set To Revolutionize The E-Commerce Industry with JioMart

    As the team was aiming to relate ancient décor to its modern versions, Vedas was a perfect choice. The name that stands for the Vedic era rightly reflects the aura of the ancient traditions and richness of heritage. They also wished to add a modern and corporate flavor to it. Thus, the logo bears a blending of old and new and is vibrant in color choices.

    Vedas Exports – Product/Services

    Vedas Exports is mainly into décor, and have Wall Décor, Wall Shelves, Mirror, Table Décor, Showpieces, Hooks, Vases, office décor, Wall Jali, etc in its platter. While the company offers readymade choices of items, it also customizes products according to customer needs and preferences. You think of a product and the company will create it for you.

    Vedas Products - Atha Mirror and Marsh Tin Wall Decor
    Vedas Products – Atha Mirror and Marsh Tin Wall Decor

    The use of lead-free paints, powder-coated, and rust-free products are the features that make this brand stand out in the crowd. The team doesn’t believe in replicating the already available styles and designs and launch new products every two months. All the products are handmade and crafted to perfection.

    “We aim to make our products for the masses and thus prefer keeping the price point intact always. We develop our products according to market trends and follow trending colors. Our team has a very good R&D wing, that travels across the globe seeking fresh designs, trend, and pricing opportunities”, says Palash Agrawal.

    Also read: GrabOnRent – Renting Furniture Online made Easier and Better!

    Founders of Vedas Exports and team

    Mr. Palash Agrawal is founder of Vedas Exports. Vedas Exports is a family-run company. Palash has his dad (Mr. Pawan Kr Agrawal) as a co-founder and he has always been the mentor and source of inspiration for the company. The company now has around 110 people working with it, which induces artisans and office employees.

    Mr. Palash Agrawal | Founder of Vedas Exports
    Mr. Palash Agrawal – Founder of Vedas Exports

    The team is a combination of fresh start-up persons and some experienced people on the job. The team has designers from NIFD and NIFT who plan and enhance the products. They also have freshers on their marketing and e-commerce business. The reason why they hire freshers is that they are ready to face new challenges and output is very much high. The team also has a brand manager who is very much experienced and good knowledge of the planning is provided by him.

    “We ensure and endorse a very strong work culture in our office in terms of ethics, teamwork, freedom of functioning, and no interference. So, we have a happy set of people working with us, who consider the office as their second home and work together as one big family”, says Palash about the work culture of the company.

    Moreover, Vedas Exports follow international standards of health and safety norms across the office and in its factories. Till now, 98% of the team was right there with the company from the start of the journey. The startup believes in the experiences and efforts it puts into raising an employee. This is important as if once the person leaves the organization, the company goes back at least 6 months in terms of experience, to teach his work to a new employee.

    Vedas Exports – Business Model and Revenue Model

    Vedas Exports operate in four different business models –

    1. B2B (Business to Business) – Supply to many stores directly and they sell Vedas’s products.
    2. B2C (Business to Customer) – Directly interact and sell products through the website and social media pages.
    3. Via E-commerce platforms – Products are available on e-commerce platforms and portals like Pepperfry, Amazon, Flipkart, etc.
    4. Through customization – Customize and create products according to the clients’ style, needs, and preferences.

    For the export of goods, the company works through direct stores, importers, and buying agencies. Vedas Exports’ revenue is generated from the sale of products through the various channels it operates in. The startup is bootstrapped and has no borrowing from anyone so far.

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    Vedas Exports – Startup Launch

    “Getting the first 50 customers was the biggest hurdle. We had our products but our journey was initiated in the online portal only. At that time, our marketing skills were not very strong and hence our efforts weren’t paying much. So, we started organizing small exhibitions across the country to build the customer base. It took us around 6 months to reach that point and get our first 50 customers”, recalls Palash Agrawal about launching Vedas Exports.

    Vedas Exports – Growth

    Considering the last six months’ journey, the company’s functioning has taken various paths. Being a new brand in the market, it’s not an easy task to have a strong footprint, especially when the decor industry is not very organized in terms of branding and sales. The products are completely handmade, and hence settling is an issue. Sometimes the startup face a lot of issues regarding its pricing, shipping costs, etc.

    Vedas Products - Basket Cycle and Bayon
    Vedas Products – Basket Cycle and Bayon

    But the exhibitions the company already organized and the client meetings the team have attended have made them realize the demand for their products and the praise for its quality. Thus, the team readily understood that it can survive in the market if its back end is strong enough.  So, the company focused on making distribution and dealer channels wide and strong, so that on-ground sales pressure is less and it can concentrate more on designs and packaging of the products.

    Currently, the company has visibility in more than 300 cities across India and 15 countries across the globe. Every year, it supply to more than 20,000 end customers from its warehouses. Riding on the success rate of the past three years, it is now present in India’s top superstores including Hometown, Evok, Shopperstop, Royaloaks, Starmarks, Pepperfry studios, etc. It has reached the profit center as well, after the third year of operations.

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    Vedas Exports – Startup Challenges

    The main challenge was building up the trust and making a big customer base. The second biggest challenge was keeping the set of artisans intact. The company was in the initial stage of business back then and orders were few, thus forcing it to assign basic work for them every day and get the work going. It also used to participate in many shows abroad with a very low success rate at that time. Hence, the team relied mostly on reverse engineering to stay afloat and improvise its products.  

    Vedas Exports – Funding and Investors

    So far, Vedas Exports has not raised any funding and its 100% stakes is owned by the founding team.

    Vedas Exports – Competitors

    Talking of competitors, there are many based in Jodhpur and Moradabad. But they have always been a great source of motivation and energy for the company, to work harder and spend more time on product building. The team believes competition should be healthy and wise.

    Relevant read: Flipkart – India’s Leading E-Commerce Marketplace

    Vedas Exports – Future Plans

    Vedas Exports plan to build on the franchise module and come up with company-owned stores across India, UAE, Nepal, UK. It is now coming up with furniture, as a new segment.

    Vedas Exports – Founder’s Advice

    Our startup journey was like a roller coaster ride. It’s fun to feel that you are the boss of the organization, where you work. But at the same time, it’s you, who end up doing all the jobs too. My suggestion would be to never give up on your belief and dreams. I was thinking to close my startup after two years of operations. But my dad and brother prevented and motivated me to put the best of my efforts and sheer hard work to climb up the ladder of success. And see where we are today- all around the world with our creations.

    Vedas Exports – Technology Stack

    From day 1 of its journey, the team has been very organized in terms of software, ERP, and tools it uses. It has customized its own ERP system for inventory management and billing.

    Vedas Exports – Recognition and Achievements

    The company has given diploma on handicrafts from Russian authority on 2015, after the first year of the business.