Indian ecommerce industry has been experiencing debuts of innovative business model across various categories. At the same time, we also have seen roll outs of few market places such as ShopClues, Junglee including recent LadyBlush, a dedicated marketplace for women, that claims to be India’s first ‘women only’ shopping website. Understanding the business model and vision of three co founders – Rahul Sethi, Suneet Manchanda and Nagarjun Shrivastava behind ladyblush.com, iamwire interacted with team Ladyblush. Here are the major excerpts of the interaction.
What is ladyblush.com and what reasons led you to bank upon a market place dedicated for women?
Ladyblush is India’s first ‘women only’ shopping website. We have launched it with cosmetics, lingerie, fragrances, sarees, watches and jewellery along with décor.
There are close to 10 million women (as per Comscore data) who come online everyday and we felt that over the last decade they had not been well targeted. Looking at the trends in the offline space where women form the core of their target group, we felt this is the right time to create a dedicated shopping market place for women. Our idea for Ladyblush has been very simple and fundamental – building relevance with our target group hence create a strong reason for existence and high organic traction.
Throw some light on core ideas that made team to believe in Ladyblush?
Before arriving on the idea of Ladyblush – our question was very simple – how do we create a business which is efficient and also scalable? In a diverse and highly competitive Indian Retail Market – we believe a vertical catalogue further focused on a vertical user group would be the answer . On the other hand, India is one unique nation where both online and offline retail is gaining structure simultaneously. Retail opportunity is huge; we don’t want to get lost in this huge opportunity and hence a more focused approach that allows us to create strong connect with our target group and build relevancy.
In today’s context with various new players scouting for users (online) it is imperative to have differentiation and your very own space in the mind of your user. And moreover, retail being low margin and high scale business, you can’t sustain or build a business with high transaction cost. There has to be high organic traction in any online retail initiative to have profitability.
What are the business principles of LadyBlush?
Our principles are very lucid – operational efficiency in supply creation and demand generation. Focused approach aids us in creating relevance at both supply side and demand side along with same side network effects. Beside this, Simplicity in user interface along with inclusiveness by way of trust and brand connect are our focused areas.
How does team Ladyblush see the so called consolidation phase in the Indian ecommerce space?
Consolidation in the ecommerce space would create more structure & seriousness in the industry. It will make it more mature and viable. The shake-out is necessary to get more efficiency and eliminate the excess from the system. And for business like ours, these events would only create more opportunities.
We believe that any business should have a clear visibility towards being gross positive on transactional level even if they are not today.
How does Ladyblush see the roll out of global e-tailing giant Amazon as junglee.com and its impact on existing marketplace models?
We complement big players like Amazon than conflict with them
How Ladyblush is different from other players in the market?
LadyBlush is India’s first ‘Women only’ shopping website. We at Ladyblush make sure that each product, brand and merchant is handpicked and works towards delivering delight to all the women who shop online.
What is your present team size and are you looking to hire aggressively?
Currently we are 8 members team including three co founders – Rahul Sethi, Suneet Manchanda and Nagarjun Shrivastava. As far as expansion of team size is concerned, we would not be very aggressive. By the end of this year, we would be team of not more than 35 – 40 members.
How Ladyblush is funded and when you are looking to raise fund?
At present, it is a self funded business. Our first objective was to go live and drive some transactions. We have better crystallized our vision and scope for the company and started the process of meeting up with potential investors.