Tanvi Ma­lik, Co-founder, FabAl­ley

VMRD - - Contents - Satarupa Chakraborty

Clock­ing ap­prox­i­mately Rs 20 crore in mul­ti­ple se­ries of fund­ing, omni-chan­nel re­tailer FabAl­ley is ag­gres­sively ex­pand­ing their phys­i­cal re­tail foot­print. Poised to close the cur­rent fis­cal with a mark of 25 stores, Tanvi Ma­lik, Co-founder, FabAl­ley talks to VM&RD on their ex­pan­sion and omni-chan­nel strate­gies. Please give us a round-up of your brand jour­ney.

We have a lo­cally-sourced busi­ness model. We founded FabAl­ley as an on­line fash­ion brand in 2012. By the fol­low­ing year, we started rais­ing funds. We si­mul­ta­ne­ously strength­ened our po­si­tion in ma­jor e-com­merce chan­nels in the coun­try. Mid of 2016 was when we started our brickand-mor­tar jour­ney but only through shopin-shop (SIS) at Fu­ture Group’s LFS for­mat, Cen­tral. It was the year we en­joyed good com­mer­cial suc­cess through brick-and­mor­tar pres­ence. Last year, we started our Ex­clu­sive Brand Out­let (EBO) jour­ney and we are happy to re­port that we achieved 100% rev­enue growth in the last fis­cal

Why did you choose your eth­nic wear pri­vate la­bel, Indya for mak­ing a de­but in EBO for­mat?

If we study the over­all fash­ion mar­ket, 75% is dom­i­nated by eth­nic re­tail. This is a golden seg­ment/ cat­e­gory that still de­serves tri­a­land-at­ten­tion from the con­sumers. Also, the cat­e­gory al­lows us to ex­tend our store pres­ence band­width across the coun­try and it does not limit to metro lo­ca­tions.

Which will be your pre­ferred lo­ca­tions in the ex­pan­sion jour­ney?

We want Indya to be a na­tional brand to reckon with and there­fore, we are cer­tainly not look­ing at only-metro ap­proach. We al­ready have opened five stores and seven are al­ready un­der con­struc­tion, with a to­tal num­ber of 25 stores to open by end of the fis­cal. We opened our pi­lot store in Ban­ga­lore last year span­ning across 350 sq ft. Now, we are look­ing at 500-800 sq ft for all our up­com­ing stores.

On­line brands are ex­pand­ing fast into brick-and-mor­tar chan­nels. How­ever, or­gan­i­cally as an on­line brand, what all fea­tures will make your phys­i­cal stores stand out?

In next 6-8 months, we have ag­gres­sive plan to merge tech in our B&M for­mat. As you rightly men­tioned that we are or­gan­i­cally an on­line brand; we have a unique ad­van­tage to blur the lines be­tween both the chan­nels. Af­ter com­ple­tion of 25 stores, we are go­ing to in­tro­duce seam­less re­turn/ex­change/ pick up fa­cil­ity across both the chan­nels. We have the ad­van­tage of big data and other univer­sal iden­ti­fier tools and there­fore, we will strive to of­fer a much-tai­lored shop­ping ex­pe­ri­ence at our store level.

Tanvi Ma­lik, Co-founder, FabAl­ley

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.