Voonik, a personalization-platform startup, with affiliate model

Voonik, an Internet Startup that provides a free online personal stylist to help a shopper choose right clothes and accessories. It works according to their body shape and preferences for references.

How does it work?

Its back-end is powered by in-house developed personalization platform. It profiles the users through a 30-second quiz where it understands the style preferences and body type of a user. Their stylists handpick the products across top lifestyle commerce websites and identify which users those products should be recommended to by using their proprietary stylist tools.

Their platform takes these stylist suggestions, combine it with broader user data on what is liked/disliked, and then push the products to the user’s feed, sorted by the order that the algorithm decided based on suitability for the user.

For every item, they have also developed their own pairing algorithm. For example, when a user looks at a shirt, their algorithm  recommends what the shirt should be paired with (pants, shoes, ties etc) based on the occasion. The algorithm takes periodic input from stylists to improve itself.

The company so far with its MVP model, is testing this new way to engage online shoppers in its community.  In order to scale its operation, the company is also planning to develop its own marketplace soon where people would directly buy from Voonik.

In only few weeks of its online presence, Voonik has crossed 11,000 visitors out of which 1000 signups. Talking about the user’s engagement metrics, 40% of the registered users have so far added items to their wishlist and 30% have already initiated purchases.

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Personal Stylist experience: Their USP?

One can easily get a personal stylist in India. But in online sector there is no popular model for personalization shopping. However, few international firms like cakestyle.com, stitchfix.com and shopittome.com are providing a similar service like that of Voonik’s. The concept is supposed to gain traction in India with the growth of online shopping.

Voonik has a total of 8 team members, founded by Suajyath Ali & Navaneetha Krishnan. The company was started with an initial investment of around USD 73,000 and so far has spent only 16% of the total budget. Voonik – in order to provide its services – charges its merchants an affiliate rate of 15-25% of the total sales they receive via Voonik.

Voonik so far has only 6-7 merchants like – Jabong, Myntra and Zovi to provide a wide range of products and the number is expected to grow. Based out of Chennai, it started its operations in March 2013. If its is able to drive conversions, its technology can be a potential acquisition for multiple fashion retailers in times to come.

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