“From a Dorm Room to a Multi-Million Dollar Enterprise: The Bewakoof.com Success Story”
Introduction:
Bewakoof.com is an Indian online fashion and lifestyle brand founded in 2012 by Prabhkiran Singh and Siddharth Munot. The company started as a platform to offer trendy and quirky T-shirts to young adults but soon expanded into other fashion and lifestyle products such as casual wear, activewear, mobile phone cases, bags, and accessories.
Background:
Bewakoof.com started as an online store on various marketplaces such as Amazon, Flipkart, and Snapdeal. The founders quickly realized the potential of creating their own brand and decided to start their own e-commerce platform. They created their own brand, with a unique selling proposition (USP) of offering quirky, trendy, and affordable fashion products to the young Indian audience.
Business Model:
Bewakoof.com follows a direct-to-consumer (D2C) business model, where the company controls the entire supply chain, from product design to manufacturing and distribution. The company focuses on creating a direct connection with its customers through social media marketing and engaging content.
Marketing Strategy:
Bewakoof.com has a strong digital marketing strategy, focusing on social media platforms such as Facebook, Instagram, and Twitter. The company uses influencer marketing and collaborations with popular bloggers and YouTubers to create buzz and drive traffic to its website. They also use email marketing, SMS marketing, social media marketing, content marketing, Google Ads, influencer marketing, and push notifications to reach out to their customers and offer personalized promotions and discounts.
Bewakoof.com is an online fashion and lifestyle brand that has gained immense popularity among young consumers in India. The company’s marketing strategy has been a key factor in its success, enabling it to establish a strong brand identity and reach a large audience. Here are some of the key elements of Bewakoof.com’s marketing strategy:
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Focus on digital marketing:
Bewakoof.com primarily relies on digital marketing to reach its target audience. The company uses a variety of channels, including social media, email marketing, and search engine marketing, to promote its products and engage with customers.
Bewakoof.com creates engaging and informative content to attract and retain customers. The company’s blog, social media pages, and YouTube channel provide fashion tips, product reviews, and other valuable information to its audience.
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Influencer marketing:
Bewakoof.com partners with influencers and bloggers to promote its products and reach a wider audience. The company collaborates with both micro and macro-influencers, leveraging their social media following to drive sales.
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Product design:
Bewakoof.com focuses on creating unique and trendy products that appeal to its target audience. The company’s designs are often inspired by pop culture and feature quirky prints and slogans that resonate with young consumers.
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Customer engagement:
Bewakoof.com prioritizes customer engagement and works to build a loyal customer base. The company encourages customer feedback and actively responds to queries and complaints on social media and other channels.
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User-generated content:
Bewakoof.com leverages user-generated content, such as customer reviews and social media posts, to showcase its products and build social proof. The company encourages customers to share their experiences with its products on social media and features their posts on its website and social media pages.
Overall, Bewakoof.com’s marketing strategy focuses on building a strong brand identity and engaging with its target audience through a variety of digital channels and creative marketing initiatives.
Sales Strategy:
Bewakoof.com uses a unique sales strategy of offering a limited-time collection of products every week, which creates a sense of urgency and exclusivity among customers. The company also offers free shipping on all orders and a 15-day return policy, which builds trust and loyalty among its customers.
Operations:
Bewakoof.com has a strong focus on data analytics, using customer insights to improve its products and services. The company has its own in-house design team, which creates original designs based on the latest fashion trends. The manufacturing is outsourced to third-party vendors, and the company has its own warehouse and logistics team to handle order fulfillment and delivery.
Financial Performance:
Bewakoof.com did face some financial challenges in its early years of operation. In an interview with YourStory in 2016, co-founder Prabhkiran Singh mentioned that in the initial years, they faced issues in raising funds and had to bootstrap the business.
However, despite the financial challenges, Bewakoof.com continued to focus on improving its product offerings, customer experience, and marketing strategies. The company also explored new revenue streams, such as launching a mobile app and expanding its product categories beyond t-shirts.
Eventually, the efforts paid off, and the company started generating significant revenue and profitability. In 2018, Bewakoof.com reported a revenue of INR 150 crore ($21 million) and a net profit of INR 4 crore ($560,000).
the current financial information of bewakoof.com. However, as per the publicly available data, in the fiscal year 2019-20, Bewakoof Brands Private Limited, the parent company of Bewakoof.com, reported a revenue of INR 186.96 crores and a net loss of INR 7.86 crores. In the previous fiscal year, the company reported a revenue of INR 117.89 crores and a net loss of INR 6.13 crores. It’s important to note that financial numbers can vary year on year based on multiple factors such as industry trends, economic conditions, and company strategies.
Challenges and Opportunities:
One of the main challenges for Bewakoof.com is to maintain its unique selling proposition and stay ahead of its competitors in the highly competitive Indian e-commerce market. The company also faces challenges in managing its supply chain and logistics as it expands its product offerings.
However, the company has significant opportunities for growth, especially in the activewear and accessories categories. The Indian fashion market is projected to reach $102 billion by 2023, offering a vast potential for Bewakoof.com to expand its customer base and product offerings.
Conclusion:
Bewakoof.com is a success story of how a unique selling proposition and strong digital marketing can help a D2C brand thrive in the competitive Indian e-commerce market. The company’s focus on creating engaging content and building a direct connection with its customers has helped it achieve impressive growth and scale. With the right strategy and execution, Bewakoof.com has significant potential for further growth and expansion in the Indian fashion and lifestyle market.
References:
- Bewakoof.com Official Website: https://www.bewakoof.com/
- “Bewakoof raises INR 30 Cr in funding from IvyCap Ventures, others” (Livemint)
- “India’s Fashion E