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| Source: Yellowfashion.in website. |
First curated online women ethnic wear store of its kind to foray overseas
- Eyes over Rs15 crores in revenues over the next three years
Yellowfashion.in, one of India's curated online women ethnic wear destinations, has expanded into Sri Lanka. The venture, well-known for its selection of sarees from across India, is betting on the fast growing Internet user base (6 million according to the ITU) and cultural similarities in clothing preference in Sri Lanka.
Darshan Patodi, Co-founder, Yellowfashion.in said, "Our in-depth market research revealed that the country, besides witnessing a growing Internet user base, is also very similar in nature to the Indian market when it comes to women ethnic wear choices. (The) Sri Lankan economy has since bounced back, it is geographically proximate and the partnership with DTDC gives us the logistical support required to ensure or track record of happy customers, which is retained in the new market as well. We look forward to the foray contributing significantly to our growth and profitability in the years ahead."
"What really is exciting about the market is that for a lot of women in Sri Lanka (the) saree is both regular wear and a fashion/lifestyle statement. Their affordability levels are high and they are seeking both design and quality which we are known for. Yellowfashion.in's approach of curating what is available on its online store vibes well with this need. Not to mention it being an untapped market. The initial response is encouraging," added Pallavi Patodi, Co-founder, Yellowfashion.in.
According to a Google India study, apparel is the highest contributor after electronics when it comes to e-commerce. The study has found that apparel is purchased 30% more times than any segment, making it one of the most stable domains in the Indian e-commerce landscape. Apparel contributes 34% to the value of total online purchases, says KPMG India.
- Eyes over Rs15 crores in revenues over the next three years
Yellowfashion.in, one of India's curated online women ethnic wear destinations, has expanded into Sri Lanka. The venture, well-known for its selection of sarees from across India, is betting on the fast growing Internet user base (6 million according to the ITU) and cultural similarities in clothing preference in Sri Lanka.
The company estimates 15% of its revenues from 2016 and 2017 to come from the Sri Lankan market, with Sri Lanka contributing Rs15 crore over the next three years. Yellowfashion.in has signed up DTDC as a fulfilment partner to ensure delivery in three to six days to Sri Lankan customers, and put in place an international payment gateway.
Darshan Patodi, Co-founder, Yellowfashion.in said, "Our in-depth market research revealed that the country, besides witnessing a growing Internet user base, is also very similar in nature to the Indian market when it comes to women ethnic wear choices. (The) Sri Lankan economy has since bounced back, it is geographically proximate and the partnership with DTDC gives us the logistical support required to ensure or track record of happy customers, which is retained in the new market as well. We look forward to the foray contributing significantly to our growth and profitability in the years ahead."
"What really is exciting about the market is that for a lot of women in Sri Lanka (the) saree is both regular wear and a fashion/lifestyle statement. Their affordability levels are high and they are seeking both design and quality which we are known for. Yellowfashion.in's approach of curating what is available on its online store vibes well with this need. Not to mention it being an untapped market. The initial response is encouraging," added Pallavi Patodi, Co-founder, Yellowfashion.in.
According to a Google India study, apparel is the highest contributor after electronics when it comes to e-commerce. The study has found that apparel is purchased 30% more times than any segment, making it one of the most stable domains in the Indian e-commerce landscape. Apparel contributes 34% to the value of total online purchases, says KPMG India.
