Juvalia & You is an innovative online social selling company for exquisite fashion jewellery from around the globe. Aiming at filling the gap of offering stylish fashion jewellery, they have made an India entry. Chaitanya Aggarwal, Founder & CEO, Juvalia & You India shares details of their business strategy for India.
Neha Malhotra (NM): Why did they opt for India as a destination to start operations?
Chaitanya Aggarwal (CA): Given the fact that we have 5000+ years of history related to jewellery, India is a $1.5bn highly developed fashion accessory market. There is a huge market opportunity for fashion jewellery and other accessories. Juvalia & You caters to the unfulfilled consumer need to purchase fashion accessories of international quality at affordable prices in the market. There is no single known brand that operates in this category and we are here to address that gap.
NM: What are your expectations from the Indian market?
CA: Globally, Jewellery and Direct Sales are two $100 billion global markets which failed to innovate and Juvalia & You endeavours to address both these markets simultaneously. In terms of online retail, India has all the right ingredients that are required to scale online retail. Internet penetration, online enhanced product offerings and a younger demographic who has trust in online brands are all the variables which should contribute to a massive growth for the next three to five years. The growth strategy for us is centered around key areas of product, brand marketing (both online and offline) and creating a fantastic brand experience and consequently, brand connect. We have an unparalleled pan-India supply chain network that can cater to all the demands. We intend to make Juvalia & You, India’s largest accessories brand in the near future.
NM: What is the brand's USP?
CA: Juvalia & You caters to the unfulfilled consumer need to purchase fashion accessories of international quality at affordable prices in the market. Our unique business model not only offers consumers the opportunity to buy the latest international designs online but also enables them to be financially independent by joining us as 'Stylists'. Juvalia & You is uniquely positioned to cater to the needs of both the online shopper and to the category that has not quite adopted the concept of shopping online. It also offers customers to touch and feel the product through the direct selling channel and then place their orders online. All in all, the offline medium allows prospective buyers to research extensively before making a purchase decision online and vice versa. In addition, social shopping is relatively a new concept in India. We believe that it has a very strong potential. Just by sheer word of mouth and network sales, we have been able to demonstrate proof of the concept.
NM: Who is your target customer?
CA: For the direct selling business, our stylists are essentially:
· Working women who want to earn more simultaneously with the job
· Persons looking for a start-up with less investment
Otherwise, our products are highly fashion forward and are designed to cater to the needs of almost any customer segment.
NM: What is your product portfolio comprised of? What are the price points you will be selling at?
CA: We are a private-label fashion jewellery brand. Our products include fashion jewellery which comprises of necklaces, earrings, rings, bracelets, brooches & hairbands & other accessories.
The starting price for the products is Rs 100 which goes up to Rs 4500.
NM: How do you manage the procurement of the products?
CA: We travel all over the world to work together with the best stonemasons and manufacturers. This way we are able to procure our jewellery directly and save ourselves the cost of any middlemen, thereby offering amazing luxury at an affordable price to our customers.
NM: What strategies and marketing initiatives have been undertaken to penetrate into the market?
CA: Juvalia & You's marketing strategy involves a 360 degree approach to target our customers. We use traditional media, both online and offline and also undertaking BTL activations across malls, RWA’s and corporate hubs. We expect ATL activation to happen in the near future.
NM: How has the brand's performance been since it started India operations?
CA: The response to both the product and the concept has been overwhelming. We're already amongst the highest visited sites in our category and the product reactions have been very encouraging. For the direct selling part of the business as well, our Stylist additions within a couple of months of operations has been tremendous.
NM: What are the company's future plans?
CA: Juvalia & You intends to be India's largest fashion accessories brand and direct selling business in the near future. We will be expanding our direct selling business pan-India and are already in the process of setting up satellite offices across the country.