A few years ago in India many saw the opportunity of stepping onto the e-commerce bandwagon, with online retailers like Flipkart, Myntra, Snapdeal, Jabong etc leading this train, many smaller retail companies emerged too which were able to find their own place among online consumers but sooner than later they were not able to cope up with the money hungry business that is e-commerce. Online private label DONE by NONE is the latest in the line of such companies.
Update: The company’s website is up with a limited number of products.
The online private label which had its own store, also sold its products on the online marketplaces, however now in an apologetic post on Facebook it promises to make up to its consumers whose orders have been pending.
On 11th Dec 2014, Done by None posted on their Facebook page a note to consumers highlight they are working to fix things and shall resurface back for their consumers triggering a mixed response from consumers, while most of them seem to “love” donebynone, they still have issues concerned with their orders, refunds etc.
This event is followed by leaving of one of their initial founders in September and October 2014 – Amrinder Dhaliwal, Vijesh Sharma, who had been original Founders of Intuitent Online – principal company that owned DonebyNone.com -and 3rd Founder Vijay Mishra Joined Later the team.
The company was initially founded with the brand name Handspick.com and it eventually changed itself to DonebyNone.com after raising investments from Seedfund, preceding the condition of brand change by Investors
Mahesh Murthy, founding partner of Seedfund told India Digital Review that there was no pivoting or re-pivoting. “The investment was always on condition that we pick a new brand name with a clear attitude and statement, for a particular demographic. The company is the same and the focus – ladies’ fashion brand – is also the same,” said Murthy.
Later on Mahesh Murthy & Shailesh Vickram Singh joined the board of directors, as reported by India Digital Review on 25 March 2013
though the Funding was announced in 2013, both Mahesh Murthy and Shailesh Vickram Singh were on borad of directors of Intuitent Online since Jan 2012
Vijay Mishra, who earlier led TCNS Clothing Company – the parent company of Women Retail Chain – W Stores, always believed in fundamentals of retail even for online business and that Online business is not a valuation game, its a long haul with no short cuts.
Stated in an exclusive session on Web Exclusive Brands @ Internet Retail Expo 2013
He also stated in a telephonic conversation with iamwire team that while it is easy to create a sustainable long term growth business in web exclusive private labels, the challenges are in generating scale, and when all eCommerce business are driven for scale, web exclusive private labels stand out in the crowd.
While most of Indian Web Exclusive Private Labels inherit their inspiration from Chinese leader Vancl, it itself is struggling with its profitability and business model after raising multiple rounds of investments totaling to over 400 Million USD. Vancl, grew very fast in China market and its global popularity as Web only apparel brand, however realizing the profitability concerns it eventually moved to a market place model under V+ and started selling other brands as well.
Indian Web first companies like Zovi, FreeCultr, Inkfruit also gained high popularity backed by leading investors like Sequoia, SAIF, Tiger, however eventually the buzz dried up.
Clearly, Indian e-commerce space poses large variety of challenges in front of entrepreneurs pertaining to business model, profitability and sustenance with high cost of consumer acquisition being a major factor in win or die.
Some people talk about opportunity of consolidation after few successful exits of Jabong, Myntra, etc however these are just a few Indian e-commerce space have seen many consolidations via what can be termed as “consolidation by death” like the recent one where Valyoo Technologies had silently shut down a number of its e-commerce portals, namely Bagskart, Jewelskart and Watchkart.
Here are some noteworthy, timely images from the Facebook collection of DonebyNone, which were popular among its consumers.