Craftsvilla is gunning for profitability this year and the title – India’s leading ethnic brand. Making profits is on every etailer’s mind and to do so each one is trying out new strategies. Amazon is planning category centric sales, Flipkart is experimenting with its new funding and Snapdeal may be considering merging with Flipkart to save itself from losses.
When it comes to Craftsvilla’s ethnic business, the online store plans to save itself from losses by increasing the representation of in-house brands on its platform. The etailer would like these to broaden their representation by 30% for higher revenue in the coming 2-3 months.
This revenue generating plan will be based on three recently launched brands on the Craftsvilla online retail channel. They include – Avanya, Jharonka and Anuswara, the newest addition.
“All the three brands cater to different style requirements. While Avanya is a traditional daily wear brand, Jharonka is a premium hand-woven sarees brand and Anuswara is a modern daily wear brand. Anuswara brings India’s unexplored crafts and rich heritage to the daily wear segment,” stated, Craftsvilla Chief Business Officer, Manish Kalra.
In the coming 12 months, the ethnic ecommerce company will introduce another three or more in-house brands like the above to its platform.
“Seeing how things go, we intend to take up the omni-channel approach to market our brands. Physical stores may be a good way to reach our customers, and build brand identity,” Kalra said.
Some of these may have a place in multi-brand format stores all over the nation, the Chief Business Officer mentioned. He also stated that the company is making a move from its pure-play marketplace model to one based on brands. The company’s brands are available on numerous other platforms besides its own.
According to Kalra, “As we launch more brands, we should be able to apply our learning so far, and cater to more specific customer requirements.”
In addition to ethnic wear, the etailer also offers ethnic food on its platform after it acquired Place of Origin. With efforts like these, the online ethnic store plans on becoming the one stop shop for all things ethnic in the country.
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