Bewakoof.com, five year old fashion and lifestyle portal, is now shifting gears to enter into the brick and mortar retail space. The move came right after the company managed to pump a funding of US $ 4-5 million from a new set of investors. However, this the second time the company is planning to explore the offline platform, having done a pilot through distributors in 2014.
Speaking about the move, Prabhkiran Singh, Co-Founder, Bewakoof.com said that about two years ago, company did a pilot with about 150 to 200 boutique outlets but after facing payment issues, Bewakoof closed down the operations and decided to focus on the online segment. But now since its online business is doing well, firm wants to slowly get back to giving our consumers the brand experience through flagship stores which would measure between 2,000 to 3,000 sq ft.
Having built adequate brand equity for its private label under Bewakoof (meaning foolish in Hindi), the Mumbai-based start-up now wants to sell its brand across market places of all the big players like Amazon and Flipkart.
“Since we design and manufacture our private label of Bewakoof , we have managed healthy margins and have been profitable. Having raised angel funding, we are now looking forward to PE and VC funds to raise capital and slowly make an entry into brick and mortar retail with our flagship stores,’’ Singh added.