Mumbai based nine months old start-up, Fetise, one of the premier online outlets, founded by young entrepreneurs has experienced staggering 1,000 percent growth as compared to its initial debut days. Talking exclusively about fetise.com’s growth, Abhishek Shah, CEO, fetise.com said, “The growth journey has been very satisfying right from early stage, when we were receiving 50 to 60 orders consistently, however, currently we have grown to 500 to 600 real shoppers every day on Fetise. Meanwhile, we are expecting to have 1000 to 1200 transactions by next few months”. From the earlier category focus on primarily Menswear, Fetise has expanded into two new categories of Innerwear and Designers.
In December 2011, fetise.com raised $ 5 million from SeedFund, as reported by iamwire earlier, for an undisclosed minority stake to the early-stage investor. Talking on the allocation/utilization of the fund, Shah said, “We are using it for expansion of our operational infrastructure like warehouses and supply chain. Apart from that, a significant part of fund will be used on the marketing and hiring especially in technology, supply chain and few other areas” added Shah.
At present Fetise has two warehouses located in Mumbai and Delhi and it plans to have another warehouse in Bangalore by the end of the 2nd quarter this year. Pointing out the industry challenges which fetise also witnessing, Shah said that the biggest ones are logistic and last men delivery as it is not yet organized.
Unlike many other ecommerce start ups promoted primarily through investor’s fund, Fetise would not go for traditional mass media marketing mediums like TV commercial and Radio. “We believe digital marketing suits us and our marketing mix will be amalgamation of campaigns through emails, social media and affiliate including several others. At the same time Fetise will also be launching its mobile website along with applications for different platforms” concluded Shah.
To win new customers fetise.com is focusing largely on referral program which is witnessing huge success in the online marketing space. According to fetise.com, the per unit consumer acquisition cost varies from Rs. 1500 to 1800 in Indian online.