New Delhi based Digital Terra Nova Private Limited (started in October 2011), has launched www.theyellowcloset.com, India’s first membership-only limited period flash sales site focused on children aged 0-18. TheYellowCloset aims to serve this segment with high quality products at a significant discount over MRP. All sales on the website will be limited-time period sales offering limited quantities at a heavily discounted price.
The website was launched in the second week of April, and has since then registered over 1,000 members, and is adding over 150 members every day, a number that is soon expected to go up to 500 per day.
Speaking on the launch of the website, Saloni Gorwaney, Co-Founder & CEO, TheYellowCloset.Com, said, “India is a country of very young population which is price conscious while being affluent, and knowledgeable. People are troubled because of time constraints and lack of availability and accessibility of good quality products and brands for kids, especially beyond the metros. We aim to target this market and reach out to customers.”
The company currently stocks over 1,000 SKU’s across leading brands and categories. Being a member-only site, brand partners are assured of reaching their key market demographics increasing brand visibility, brand recall and potential for cross sales.
Speaking with Iamwire about the opportunity in the market, Saloni, said, “The kids’ segment has historically been under-served in India with most players choosing to focus on fashion. Parents today are evolved, affluent and aware and the potential for differentiated player to gain significant market share is immense.”
TheYellowCloset seeks to create the ultimate customer experience by focusing on key business attributes that contribute to customer satisfaction and enhance customer loyalty – quality, price, transaction security, timely delivery, and authenticity of merchandise.
One common customer complaint with flash sales is the long delivery period associated with it and this is where theyellowcloset seeks to revolutionize the game. “Great deals should not mean delivery time punishment”, said Saloni.
All products sold on theyellowcloset ship within 24-48 hours. With a warehouse in Delhi and integrated logistics service with Blue Dart and Aramex, theyellowcloset will be delivering pan India. The site accepts all payment methods including all international and national credit and debit cards, net banking, cash cards and also offers cash on delivery.
Speaking with Iamwire on revenue and growth, Avinash Sood, Co-Founder & COO, TheYellowCloset, said, “Based on current trends and growth patterns, we should be averaging 30-40 orders a day within 2 months. We then expect that number to grow exponentially as we ramp up ad spends and word-of mouth starts to take root. We’d like to watch customer buying patterns for a few weeks before we announce revenue targets for the 1st year.”
Both Saloni and Avinash hold an MBA from Boston, USA and have over a decade of experience working at various companies. The company is currently self-funded and is on the look-out for the suitable investors to expand capabilities, both delivery and human resource, besides building inventory and allocating money for marketing and advertising.
The company competes with multi-segment flash sales site Fashion & You, besides niche players in the baby and kids products category, such as babyoye, firstcry etc.