Styletag.com is India’s first online curated fashion and lifestyle destination. The website is replete with a plethora of ethnic wear and western designs, handbags, footwear and accessories for women as well as men’s lifestyle and fashion products including other categories like home décor and personal grooming.
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‘The Curators’ of the Styletag!
It’s the wedding season and a reason for dance, clothing and jewellery. “With the wedding season going full swing, a mercurial jump has been observed in the sale of ethnic wear along with designer jewellery and wedding wardrobe. Shoes, bags, designer wear and western wear also come a close second on the list. And with ongoing festive revamp across millions of households in the country, the sales of Home and Lifestyle range is also seeing an upward spike” says Mr. Sanjay Shroff, CEO & Founder, Styletag.
With deep-rooted understanding of the retail landscape and calculated decision-making, Sanjay and Yashodhara Shroff established their first retail venture ffolio in 1991. This was the first ever multi-designer luxury store in Southern India. Eventually, drawing from this experience, the Shroffs founded Styletag.com, India’s first online curated fashion and lifestyle destination that makes luxury products accessible in the form of a flash sale model to discerning ‘fashionistas’.
While managing to etch a niche for ffolio in luxury retail, the Shroffs noted a severe dearth in affordable and credible fashion available across India, especially in Tier B and Tier C cities. Therefore, by drawing on ffolio’s heritage, the Shroffs progressed to the online medium through the launch of Styletag.com in 2012 along with three other technology experts from the industry.
Sanjay Shroff shoulders the responsibility of strategizing, ideation, innovation, new initiatives and marketing at the online fashion portal owing to his experience of establishing and running successful ventures in retail, fashion and manufacturing for more than two decades.
A Chemical Engineering student from Rutgers University and an MBA graduate from Kellogg School of Management, Shroff embarked on his professional journey as an entrepreneur.
With 20 plus years of experience managing a luxury store under her belt, Yashodhara has been credited with giving the launch pad to several stalwarts of Indian fashion. Yashodhara enjoys a prolific relationship with the fashion fraternity in India and strong buying knowledge. Yashodhara studied at the Art Institute of Chicago. Later, she studied at the Northwestern University and completed her BSc from the Calcutta University.
Get to know ‘The Styletag’
Styletag.com is India’s first online curated fashion and lifestyle destination. The website is replete with a plethora of ethnic wear and western designs, handbags, footwear and accessories for women as well as men’s lifestyle and fashion products including other categories like home décor and personal grooming.
The USP of Styletag is that it makes premium products accessible in the form of a flash sale model. Styletag.com offers fresh fashion every week, with a unique blend of ethnic and western wear.
With an omni-present retailing model, driving sales through both online and offline channels, Styletag.com has emerged as a one-stop fashion destination for all age groups. Eventually in 2014, as part of Styletag.com’s offline expansion plan, the duo launched, StyleCafe, a retail kiosk which is now a fashion landmark.
Technology is the key aspect that keeps Styletag a well-oiled machine. Be it the portal itself, data crunching/ analysis or the tools used to fulfill orders, the tech team builds custom solutions to enable the company. With members from the likes of McKinsey and major research companies, the technology is kept up to date and in some ways ahead of the curve.
Present and Future!
The e-commerce industry is a huge playing field at present, with multiple players vying for the top slot. Naturally, intelligent logistical support, pre-booking of orders, blocking of inventory and ramp up of the logistical/ warehouse team will be the key drivers. Another challenge for Styletag is to steer the customer behavior, which has become more discount-centric over the seasons, with bigger players in the market offering humungous discount to shoppers.
Styletag team strength currently stands at 103. The head office is located in Vasanth Nagar, Bangalore. The subscriber base is upward of half a million while Styletag has over 1 million Facebook Likes. The company is currently looking at a stable growth of 30% to 50% quarter on quarter. On November 17, 2015, Styletag.com, raised INR 50 crore in angel funding from Jitu Virwani, Chairman & Managing Director, Embassy Group. The investment of the said amount has been made in his own personal capacity. Embassy is one of India’s leading property developers with a track record of over three decades. The company will use the raised funds to further expand their range of private labels, acquire a medley of other designer brands and strengthen its team to complement their capabilities.
Styletag has extremely robust plans for the next 6 months. They are looking at doing 1,10,000 unit orders this festive season as compared to 28,000 unit orders last year. Compared to the first 6 months (first 2 quarters of this fiscal year), that’s around a 2.5x jump. The numbers that they can project right now depending on the ongoing trend, they are looking around Rs 32 crore GMV for the remaining months. In terms of new initiatives, Styletag is looking at rapid expansion of kiosk model and wedding wardrobe. Styletag plans to unveil App on Android and iOS soon. Styletag is also looking at innovative marketing on third party platforms like Saavn.com, etc. Talking about IPO plans, Sanjay Shroff comments that “At the appropriate time we will look at all possible options”.
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