Right from formal wears to daily casual outfits, fashion and clothing delineates the personality of an individual and is evolving by the day. Since the apparel sector has been witnessing a great boom, innovation and creativity has become a key to success. Stereotype outfits are a strict no-no! Unique, classy attires are the in thing that has certainly added pressure on the designers to innovate fresh styles and designs.
Keeping pace with the contemporary necessities, PostFold, has definitely made a mark in the apperal industry. Retailer Media caught up with Aashray Thatai, Co-founder of PostFold to know more about the brand and its future prospects.
Was entrepreneurship the cherished line of work for you? If it wasn’t, how did PostFold happen?
Ashish and Me are alumni of the North Eastern University in Boston, and we pursued Mechanical Engineering and Masters in Finance respectively. Despite being in corporate jobs, post college, getting ready for office and then redressing, once home, had been a pain for us. This is where the idea— PostFold, clicked! The idea was to offer the best in class casual wear options to our audience wherein, they can dress for office and can also be a part of a casual get-together afterwards in the same attire.
Tell us something about your new collections— Boho, travel and Monochrome?
Initially, we started with traditional season — Fall, Winter and Summer, but then we thought of diversifying our array. This decision made us focus on the mini collections, called- ‘Stores Of The Season’ based on different themes. So the collections - Boho, travel and Monochrome are about these themes only that define different stories.
In today’s cut throat eCommerce competition, what makes PostFold stand out from others?
One of the major factors that differentiate us is that we closely work with the factories to get rid of the middlemen. Handling all the sourcing and procurement on our own gives us an upper hand on pricing. The affordable luxury quality that we deliver is not available on any of the eCommerce sites. This is what makes us unique and gives us fair advantage over the existing brands.
How has been the consumer response so far?
It has been amazing! In fact, the sale figures have been rising every month. The repeat customer rate has been around 60-70 per cent and we are more concerned about it with the latest collection added to the stock.
How do you manage your logistics and supply chain?
Besides tying up with logistics aggregators, we have access to most of the big logistics partners such as FedEx, Delhivery RMX and others to strengthen our supply chain and offer the best services to our patrons.
Are you planning to expand into tier II and III cities of the country?
We feel there is a lot of potential in tier-II and tier-III cities. We have already been receiving orders from tier-II cities and we have initiated marketing efforts in these areas. In fact, we have retail expansion plans to cater to those markets as well. We will launch with metros first and then gradually expand towards tier-II and tier-III cities.
Are you looking at the Omni-channel mode for retail expansion?
Yes, we are looking at the Omni-channel way to boost our sales and planning to launch EBOs at airports.
Can you put some light on the investment front of PostFold?
As of now, it’s all self funded. Before anticipating for funding we want to create a sustainable and proficient model.
What do you think are the challenges in this dynamic and competitive eCommerce sector?
Enhancing customer’s shopping experience and transforming it into a better one every day, is the biggest challenge in our space.
What are the three USPs of PostFold?
When it comes to PostFold’s USPs, the first is, its price and quality, second being the versatile clothing line, last, but not the least, is our transparency and social awareness.
How have you segregated your consumers?
Our customers range between the age group of 22-35, especially those living in tier-II or tier-III cities. There is also a large chunk of new-age millennial moving from tier-III cities to metros. The one thing common factor amidst the huge clientele is that they are either intermediates or beginner in career and are in search of better quality of clothing.
The brick and mortar industry is gradually re-establishing its existence. Do you see it as a challenge?
No, I don’t see it as a challenge. Rather it is a complimentary business model. Both — the eCommerce and the retail have way to go and they will complement each other during the line.
What is your take on recent 100% FDI in eCommerce?
I see that they are only open channels for any company to expand their revenues and increase their reach.
Do you agree with the market experts touting 100% FDI as a backdoor entry to the international brands?
Yes, it will open way for the international brands. But we need to understand that it will offer an economic pricing after eliminating the middle men.
What has been you’re A-ha moment in the business? (The high point)
It was at the Gurb Fest, at the Jawahar Lal Nehru Stadium, where we got bowled over by our sales and the phenomenal responses we received. This was the phase that took us right on the track and we decided to step into brick and mortar retail.
Is there any message for those who are planning to plunge into the eCommerce arena?
Yes, there is a piece of advice for those planning to endeavour in the apparel market, which is undoubtedly a crowded space. I feel, if you find your spot and keep progressing towards meeting your targets, you will always do well in the business.