Rahi Jain is the CEO and one of the Co-founders of Arnit Retail Pvt. Ltd who has propagated the idea of IndiaRush in the fashion marketplace. The company is running successfully with bootstrapping strategy which is a little wonder in this competent place. Let hear some extras from the co-founder itself.
From where the idea of e-commerce came to your mind?
IndiaRush is one of the best competent e-commerce brands in the consumer marketplace, catering latest women fashion with quality and this is what everyone wants. Be it a college girl or a well earning corporate woman, she will never want to throw her 100 bucks on something which seems to be of 10 bucks. And from here, the idea has been sprouted like a boon among us. In 2009 when social marketing and sites were on peak and I had joined Ibibo as software engineer and was directed to build interactive social games. During that period, I also built a website on Twitter service, where one can check offline game scores and get updated commentary. From there, I got the inspiration of fashion online marketing and posing the company as a brand itself. It has become essential to cut down the unnecessary cost posed by fashion materials in the market. Hard to explain but almost every product you buy is increased in price by eight times before it comes to the real consumer or customer. In pursuit of best fashion shopping experience, we cut down the mid-charges or commission pays while providing the value for money product to the customer.
How it all started and doing with bootstrapping strategy?
We started running IndiaRush with a mind to ignore the profit structure first and focus more on the revenue system. In 2012, the revenue we get from social was next to zero and we hadn’t put enough of our efforts on that side as well. We followed the path of ‘Courage of ignorance’. To cut short the margins, instead of giving the task to outsourcing companies, we build an in-house team for the brainstorming. And this gives us many advantages such as empower team with decisions, ROI Driven and we do not have to follow the industry norms, made us understand that throwing money at problems will not going to solve core issues. Another issue with funding is you need to have a dedicated person who will deal with the investors and it takes almost 3-6 months with dedicated efforts. We took the other way out and as for our luck, it worked great. We keep our costs small; there are no image photoshoots, no compulsory vendor visits and etc. which help us a lot to carry out with our bootstrapping strategy.
How are you so sure that your company will be competent with other E-commerce fashion portals?
We have a collective database of 10lac+ customers and users across the India. With 1.5Lac users per day, 45000 orders per month, the company also boasts its relationship with 5000+ vendors. Of course, when you have a team of around 100 members, the efficiency of the company gradually comes up. We have a dedicated team of fashion bloggers and stylists who grab 10K + visitors per day. Apart from these numbers, we have 5 years + positive relationship status with many of the reputed banks, telecoms, coupon partners and wallets.