Rocket Internet-backed FabFurnish.com has grown aggressively since its launch two years ago. In a conversation with Sweta Pal, Vikram Chopra, alumnus of IIT Bombay and Co-Founder and CEO of FabFurnish, shared his growth mantra.
The home and furnishing segment has grown aggressively over the past few years. Kindly highlight your growth?
Sales in the home and furniture segment are more than $ 20 billion each year, but these segments are still largely unorganised, and we sought to fill this void by setting by e-retail site nearly two years ago.
Which are the services offered by FabFurnish.com?
We are an online shopping ‘destination’ for designer furniture, furnishings, décor items and kitchenware. Our USP is our wide product portfolio along with reasonable prices.
In addition, we offer a ‘part-payment’ option and customers can pay a portion online and the remainder on delivery of the product.
You recently launched your first television commercial, and how has it helped you achieve your growth objectives?
We launched our TV commercial nearly six weeks ago and customer visits to our site have doubled. We currently get over 150, 000 visits a day. In addition, we are also optimistic of further accelerating our sales growth.
We had grown our sales five times in ‘13, and apart from offering products at diverse price points, we will also make our products available ‘offline.’
Kindly throw more light on your business model?
We follow a mix of both inventory-and marketplace-based model, and we try to ensure timely delivery in both the cases.
Online ordering still accounts for a very small proportion of the overall home and furniture segment, but younger consumers are early ‘adopters’ of this distribution channel. And, this has helped to largely deal with the problem of touch-and-feel related to purchase of products in this segment.