The Indian wedding market is over Rs. 100,000 crore: Aayshya Jhunjhunwala and Vasundhara Mantri
In an exclusive conversation with Aayshya Jhunjhunwala and Vasundhara Mantri sheds light on the brand concept of Shaadilogy.com.BY Shipra Srivastava | March 15, 2018 | comments ( 0 ) |
Aayshya Jhunjhunwala and Vasundhara Mantri
What is the rationale behind launching Shaadilogy.com?
During a particularly busy wedding season, when Vasundhara and Aayshya were caught in the midst of helping close friends and cousins shop for their weddings, while also playing agony- aunt to them, they realized that whether it's one's wedding, or the weddings of loved ones, this momentous occasion causes tremendous stress….. when in fact, in should be hassle-free and fun. Shopping being an integral part of weddings, they decided to build a platform that eliminates some of the stress associated with wedding shopping and planning. Shaadilogy, launched in October 2016, helps to-be-wed couples, their families, friends and really anyone attending weddings with shopping requirements and provides several planning tools for the couple.
What is this concept all about?
An online platform that caters to wedding shopping, planning and organizing, Shaadilogy is built on the philosophy that ‘Weddings should be hassle-free’ for the to-be-married couple, their family and friends. To this end, Shaadilogy provides a host of products and services that has made it a ‘Partner to Life Partners’. Featuring a one-of-its-kind curated wedding shopping experience, special bespoke wedding services, customized gifting, a gift registry, a unique designer concierge and a free wedding management App, Shaadilogy is one of India’s fastest growing online platforms catering to weddings.
Why do you think Shaadilogy could be a winning concept?
Shaadilogy is the betrothal between science and art of wedding shopping and planning. We offer a highly curated and tailor-made wedding shopping experience. Our USP is our curation and the fact that we make wedding shopping hassle-free while also providing tailor-made wedding planning tools for the couple. Shaadilogy is also the only online store with high fashion available on EMI. Our serviced such as the Designer Concierge allow our customers to meet with designers for a bespoke experience.
What is your assessment about wedding related product retailing market?
The Indian wedding market is over Rs. 100,000 crore, and its growing at over 25% annually. With half of India's population under 28 years in age, the industry is expected to boom over the years, as spending power increases.
Do you think, this wedding market is shifting towards organize trade?
Yes it is, and that is our goal to make this space more organize and hassle free.
How many designers you have on board with you? And, what are the plans to expand the portfolio?
We have over 100 designers and gifting partners on board with us. And we are adding more to the list on a daily basis.
Currently, how many pin codes are covered ?
We cover majority of the pin codes in India and we also ship worldwide.
Going forward what are the plans to extend the brand?
We would like to increase our reach in smaller towns and cities in India, while also focusing on the Indian diaspora and NRIs.
Are you also thinking over opening your exclusive store?
It is a thought! May be with time.
Groom vs Bridal, where is the focus? As of now, which is your highest revenue churning segment among these two?
Bridal has always more revenue churning, but today’s grooms aren’t far behind.
Who do you see as your competition within the same space?
Most startups in the wedding space have a listing of wedding service providers. We decided to focus on a curated wedding shopping experience, and provide specific tools such as our gift registry, designer concierge and event app, which provide holistic solutions to the couple, their friends and family, and their event organisers. Our theme-based shopping experience and extensive wedding gifting section also set us apart.
Have you raised any sorts of funds so far or plan to?
We have been funded via capital from our co-founders and their family.
At last, kindly highlight your growth plans?
We are rapidly expanding the LabelFree by Shaadilogy section, to bring tasteful, yet affordable wedding fashion to the market. While we are working aggressively on our marketing within India, we are also rapidly finding ways to provide solutions to potential clients abroad. Having successfully completed our pilot runs and fine-tuned the model, our Event Styling and Wedding Services are also poised to take off.