Thursday, 23 February 2012

Bestylish.com Online Shoe Store Expand in Bags

Bestylish.com, the footwear e-Commerce venture from the Smile Interactive Technology Group (SITG), will start selling bags in around a month. The portal was launched in May 2011, and is now also exploring private labels starting with Joos, an in-house footwear brand for women priced at below Rs 1,000.

Speaking to Business Line, Mr Shailen Amin, CEO, Bestylish.com, said, “We decided upfront that we will be category killers in whatever we launch, and so are careful about what we enter. Bags are a good category to enter as we are already in shoes. Sourcing synergies are there and we have existing relationships that we can build upon.”

On private labels, he added, “Private labels are being explored by most e-Commerce sites; the margins are higher much like in offline retailing. In our case, we started with Joos for women because there is an opportunity to create a national women's footwear brand. With traffic of a million people a week, why not develop our own brands?”

The site is selling 1,000 pairs of shoes a day, with an average value of Rs 1,350 a transaction, according to its CEO. This number has grown from 100 transactions at Rs 1,000 a transaction in June last year. It claims to have retained 60 per cent of its customer base, with each retained customer accounting for four transactions a year (projected).

In tune with several other e-Commerce players, towns beyond the top eight metros contribute half the sales on Bestylish.com. The share of Cash-on-delivery (COD) orders has dropped to around 32 per cent, from a high of 60 to 70 per cent shortly after the launch. Of the COD orders, the ‘returned undelivered' constitute 30 per cent.
Mr Amin explained, “It has to do with trust in the site and with online transactions. People are increasingly using net banking and credit cards.”
http://www.thehindubusinessline.com/industry-and-economy/marketing/article2817219.ece

0 comments:

Post a Comment

 
Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Online Project management