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Online fashion retailer Yep-Me on store opening drive
02 Aug '16
2 min read
In order to hike sales and also follow an omnichannel strategy, online fashion retailer Yep-Me is planning to open 400 brick and mortar stores by this fiscal end.
Quoting Yep-Me's CEO Vivek Gaur, the Economic Times said the retailer has identified cities like Noida, Meerut, Bengaluru, Hyderabad, Ludhiana and Latur for expansion through franchise route.
According to Gaur, a majority of the stores in metros will be company owned, while those in tier II towns will be franchisee owned.
The company currently manages four stores in Gurgaon and is doing five times more sales than what it does from online sales from the same city.
“We figured out that we can sell profitably and get a multiplier on online sales by having an offline presence, putting us in a different orbit altogether," Gaur said.
Orders received on its website from smaller towns, will be shipped directly from these stores rather than its warehouse, provided the outlet has the product in stock.
In addition, the retailer will offer a seamless shopping experience across multiple towns by allowing anywhere returns of products bought by customers across stores in different cities. (AR)
Quoting Yep-Me's CEO Vivek Gaur, the Economic Times said the retailer has identified cities like Noida, Meerut, Bengaluru, Hyderabad, Ludhiana and Latur for expansion through franchise route.
According to Gaur, a majority of the stores in metros will be company owned, while those in tier II towns will be franchisee owned.
The company currently manages four stores in Gurgaon and is doing five times more sales than what it does from online sales from the same city.
“We figured out that we can sell profitably and get a multiplier on online sales by having an offline presence, putting us in a different orbit altogether," Gaur said.
Orders received on its website from smaller towns, will be shipped directly from these stores rather than its warehouse, provided the outlet has the product in stock.
In addition, the retailer will offer a seamless shopping experience across multiple towns by allowing anywhere returns of products bought by customers across stores in different cities. (AR)
Fibre2fashion News Desk - India
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