Online fashion has always been one of the most talked about and dynamic segments of Retail. Innovations, reinvention and a bit of theatrical have been the key drivers here. ‘Regular is outdated’, this is something that Generation Y believes today. Discounts, funky collections and catchy campaign are a must for online players to woo this new generation.
With the mantra of being imaginative and a tagline that says ‘a Bewakoof follows his Heart’, online fashion portal Bewakoof.com has managed it well to connect with the mellennials and is constantly quadrupling its popularity and numbers.
Speaking on the same with Retailer Media, Prabhkiran Singh, Co-Founder & Director, Bewakoof.com shared his observations and thoughts on the emerging trends of the online lifestyle and fashion space. He also talked about his distinctive plans towards the growth of the company.
Talk to us about Bewakoof.com and journey so far.
We had been working on the seed idea since our IIT hostel days and found our vision to bridge the gap between high quality and price while making fashion accessible to all early on. Bewakoof, launched in 2012 by Siddharth and I, is today, one of the fastest growing online fashion and lifestyle brands. With over 3000+ style trends, 2 million followers on Facebook and 10 Bollywood movies merchandise, Bewakoof, that kickstarted in an IIT hostel room is today a pan India brand that sells 1 lakh products per month and ships to more than 19000 pin codes.
Bewakoof harnesses the energy of 'quirkiness' and 'coolness'. The business model is backed by strong innovation in Technology and Supply Chain, with the vision to make fashion affordable and accessible to the young aspiring masses of India.
Why the name, Bewakoof?
A brand name is not just what it sounds like and creates, but how it IMPACTS. When Siddharth and I brainstormed the brand name, we wanted a name that sticks, intrigues people, amuses them, acts as a talking point, and of course one that’s memorable.
According to us, a Bewakoof follows his heart, regardless of what the society thinks. That’s how the name was derived.
Tell us about WhatsApp Selling strategy and do you think this trend is likely to be adopted by big boys of etail?
When it comes to building a successful brand, the more experiments you make, the better! Selling on WhatsApp was one such successful experiment we can vouch for. When we started out, the WhatsApp marketing initiative was one of the strategies we adopted because people weren’t digital conscious or avid online shoppers as they are today. Since we are a consumer friendly brand, we are always looking at making shopping an effortless experience for all. Today, we are ahead of the learning curve, people are more tech friendly and open to online payments and shopping.
How has been the response towards Private Label Products in eRetail space?
The market is prosperous because there are some value propositions that only an online brand can offer such as variety, convenience of shopping, affordability and no middlemen.
With coming of social media, brands feel more accountable towards customers, one bad shopping experience can mar customer base. Online shopping brands are more cautious at offering the right customer service and unmatched shopping experience to put up with customer preferences.
Why did you discontinue selling through offline stores?
Focus on online.
Internet is the greatest game changer of our generation and we’re responsive to change! When we started out, web was picking up, but now it’s a business must. In a few clicks, you can shop anything from the comfort of your house. We believe that consumerism is shifting towards web faster than ever. Shopping will soon become a totally digital experience. The future is online. So, we found our compatibility with the future!
How has been the response from mobile app?
Response has been whopping! Right now more than 50% of the overall sales of the brand are happening through the mobile app.
How good is the response from tier II and III cities of the country?
More than 50% of sales are happening through these cities. Bewakoof focuses on creating a very dominant pan India presence and a brand that becomes a household name. We are prevalent in tier-2 cities essentially because there is a lack of high quality fashion brand. We bridge the disparity between need of high street fashion and its offer at reasonable cost. We have an extensive fan base in metros as well because even though there are several options, cost of fashion is sky high. Bewakoof fills that void and caters to such a huge marketplace i.e. metros by providing great quality fashion casual wear at fraction of the cost.
Shed some light on the investment front of Bewakoof.com?
Snapdeal Founders, Nikhil Vora and other influential angel investors have invested in the brand.
Expansion plans and other segments.
Online shopping is a vast market and we are on a spree to tap this far-reaching market as much as we can. We are growing fast, kicking up a notch and its showing. We are focusing on expanding the outreach of the brand and venturing into other lifestyle categories & fashion segments as well with focus on quality, affordability, sustainability and continued profitability.
Shared with us some numbers like revenue, category preferences etc.
Annual revenue of 30-40 cr. Mobile covers, boxers, crop tops, pyjamas are some of the top revenue generators for the brand.