Kindly highlight the journey of brand? What was the inspiration behind to launch the brand Vajor?
-"A brand for the independent minds, the kind hearts & the nomadic souls" , we live and breathe this very motto. Vajor came into being in 2014 with a very clear concept in mind. Observations revealed how the market is filled with either off-the-rack clothing or luxury couture. And there is a wide valley in between these two. Vajor is the brand that bridges this gap. The brand has its own identity which is about being organic and rooted in its approach. We are aware of the concerns of our consumers and are providing them with a platform which is trustworthy and fashion that is body friendly.
How do you assess the online fashion and lifestyle market?
The online fashion market is growing with every passing day and what sets us apart is our ability to deliver an experience along with an impressive product. As an e-commerce women’s wear Fashion & Lifestyle brand, we have a very specific goal.
Presently, how many categories you are retailing? Also, mention the best performing categories so far? Shed light on strategies to expand the categories further?
- We are currently serving 3 categories, Clothing, Shoes & Accessories and Decor. The best performing category for us so far has been Clothing. Vajor had started with only Clothing and Shoes & Accessories and has recently ventured into Decor. Though we have been broadening our category depths by adding more sub-categories, we plan to introduce new product dimensions in the near future.
Kindly highlight your current distribution? How many pin codes you are covering right now? Also shed light on strategies to scale up the distribution? Any plans to foray offline retail?
Vajor is currently catering pan India with around 7K + pin codes in the list. Since we are completely online , it helps us in scaling easily and experiment with different markets . On the same time , we understand the importance of being present offline and so yes there are plans to get into retail in next 3-4 months , starting from Delhi/ NCR.
Discounting is ruling factor in online fashion. What is your strategy on discounting? Also shed light on return rates? Also how you are managing your supply chain?
Well, discounting is a perspective. Vajor’s underlying proposition is to provide the quality products at affordable pricing and fortunately our consumers agree with this. And I trust we have been able to create that position for us to sustain this without offering discounts all the year round. Of course, we have our sale period - which is very limited and only on certain products and we do get great response . But this is something very limited. Through continuous efforts we have been able to bring down our return rate to a single digit and maintaining that from last quarter.
We design & create most of the products inhouse and have a commitment to share new collection every month with our users. Hence, we are always on tight schedule and work aggressively to create the best products.
Any plans to explore franchise model to expand the brand reach? If yes, pls provide the details?
Franchise is a very catch 22 situation. We are quite sure about how we project our brand - whether its a kiosk , a brand collaboration , a CSR initiative or any other alliance. Getting franchise might be a great way to scale up but need to be sure on the final experience to customer being delivered . So to answer your question, may be.
What is the starting and exiting price point for your offerings? Also, mention your average bill size?
We do have few accessories starting from Rs 300 and going upto Rs 6-7k (for limited edition) as well. The average bill size is around Rs 2500.
Do you see as anybody as your potential competition in the same space?
Lifestyle is quite a competitive space and in that sense any brand selling the western clothing or decor is our potential competitor. But we truly believe we have been able to create a position for us as a provider of fashionable & comfortable clothing, meant for the Indian body types - probably better than few others.
In past, has the brand raised any sort of funds or plans to? If yes, what kind of investors will fetch attention?
We are completely boot strapped and we are very proud of that fact. Since we are planning to foray into retail now, we might be talking to some strategic partners, lets see how journey goes from here.
At last, kindly mention your growth plans?
We will be expanding in the domestic as well as international markets this year. Under domestic expansion, VAJOR is getting into retail from SEP 2017 onwards. The first 2 stores are both going to be in Delhi NCR region and we will be expanding to more metros in the next 6-9 months. Vajor is moving ahead with a geo expansion plan wherein, we will be looking at various channels and ensure our presence internationally in around 3-4 countries by the end of this financial year. This will be made possible through few collaborations, international marketplaces & local vendors.