Enah aims to raise $ 5 mln
Currently growing at a blistering 25 per cent per month.BY Baibhab Das | April 22, 2013 | comments ( 0 ) |
Enah.in, an ethical and fashion lifestyle online brand, is looking to raise funds in a bid to scale-up its online presence. In a candid interview with Neha Shah, Founder and CEO of ENAH, she highlighted their strategy to stay ahead of the fierce competition in this segment.
Baibhab Das (BD): Kindly share the USP of your e-retail operations?
Neha Shah (NS): ENAH’s USP is its business philosophy of an ethical fashion brand, and we strive to maximise the benefit to society, with minimum impact on the environment. ENAH has been online on other portals including flipkart.com, jabong.com and myntra.com, for over a year, and we launched our e-commerce site in mid Oct ‘12.
BD: Why did you launch your own portal?
NS: The e-commerce industry here is growing rapidly and for a start-up brand like ours, it is a cost effective way to reach a broader audience.
BD: The Indian e-retail industry has more than 400 players currently and how do you differentiate yourself?
NS – Our products help us stay ahead. All our products are exclusively designed and manufactured at our partner production company at Navi Mumbai. Also, we provide consumers with a ‘custom fit’ clothing option and clothes can be made to suit their individual requirements.
BD: What are the challenges for you and the broader industry?
NS: There is a lot of scope for improvement in inventory and logistics management in the broader e-commerce sector. In addition, there is considerable scope for improvement with regard to customer support
BD: Kindly share more details about your product offerings?
NS: Our range currently includes apparels for ethnic, western and fusion categories for women. All our products are created using natural fabrics and we also use a suitable mix of traditional handicrafts and eco-friendly textiles. We
currently offer 500 products within a price range of Rs 599 – 2,499 and the average ticket size of purchase is about Rs 1,000. We are also currently growing at more than 25 per cent per month.
BD: Please throw light on the number of members on your website and your target audience?
NS: Since our launch, we have more than 20,000 visitors on our site. In addition, on our Facebook page, we have about 30,000 followers. Our target audience is sophisticated women consumers between 18-35 years
and residing in metros.
BD: Your marketing strategy?
NS: We have invested heavily in marketing campaigns on Google and Yahoo display ads, optimised keyword advertisement and SEO campaigns.
BD: Any fund raising plans?
NS: As a start-up, our main challenge is to manage working capital requirements. We have already raised an undisclosed amount from angel investors and our in talks to raise a further $ 5 million dollars from VCs and Angels.