The high expectations in demand of accessories and fashion brands by online shoppers has led another e-retailer to enter the market. Squarekey, an editorially driven lifestyle ecommerce play provides access to range of international brands and curated services to the Indian customers.
As price has always been the challenge while purchasing international brands, Squarekey claims to offer its products in India at the same price as available in the west, adding to its USP.
The editorial section of the website helps users to get up-to-date information on the latest designers, fashion trends, styles, and pairings. There are various other international magazine which are working on the same model such as Vogue i.e. it provides editorials and suggestions with the products; Monogram, launched as a fashion shopping app and later was integrated into e-commerce magazine; Net-a-porter.com, elle.com, are few others.
For now it has tied up with 65 brands and manufacturers which brings premium and luxury products to its customers. Nicole Miller, BCBG, Nanette Lepore, Ben Sherman, Max Azria, etc are the few brands that are currently available on Squarekey.
The company also access inventory of few brands and it takes care of everything from fulfillment to the last-mile delivery. It also provides drop shipping service in the first-tier cities in India.
Launched 7 months back the company is witnessing growth by 30% over month-on-month basis with average sale price in $175 dollar range. The company expects high growth in coming times with middle – upper middle class as its target audience though it is yet to develop mobile app to tap the m-commerce market in the country.
The company had maintained inventory for first 6 months but now it is not taking any inventory risks. It even allows shoppers to book pre-season clothing if they are ready to wait for few months.
Squarekey hosts physical pop-up shops time to time across the country to provide shoppers opportunity to browse through selection in person, and to interact with editors and style experts.
Website is providing all sorts of online payments using CC Avenue. Though it also provide option for cash on delivery for products purchased below INR 10,000 and also an exchange policy.
One more such company Rock.in which started with the similar idea to sell European brands in India did take off well but could not really wait for the after party as they shut down for unexpected reasons recently.