Which age group uses your app? Kindly elaborate on the demographics.
Currently, over 90 per cent of users on the app are young women in the age group of 21-28. These women are social media savvy, and have a reasonably good social presence and activity on platforms like Instagram, Snapchat and Facebook.
What are your retailing and marketing strategies?
We are currently focusing on online and digital marketing, and building the brand through social media. In the next few months, we will be working on rolling out a few on-ground initiatives. An important area for us is to re-use fashion and also make a difference to the society at large. Hence, we have tied up with Milaap, a popular social causes' crowd funding platform. Users can donate proceeds from the sale of their item directly to our supported women's causes. So now you just don't get to look good, but feel good too.
Any plans to get into brick-and-mortar?
Currently, our focus is to establish a brand which is one of the most preferred online marketplaces for selling and buying pre-owned fashion. Once we achieve our goal, we may consider feasible and alternative ways of expansion.
What are the pre-requisites to selling one's used clothing? How does it all work, including supply chain issues?
Every item sold on StylFlip needs to conform to the 'StylFlip Promise', and will not get the seal of approval should it be counterfeit, damaged, defective, unhygienic or misrepresented at the time of listing and/or pick-up from the seller. Buyers get a full refund in the event the product fails to adhere to the StylFlip Promise. The seller is banned from selling on the platform. The authenticity process is on point with a panel of in-house fashion experts, who painstakingly ensure that sellers are real people with genuine products to sell through a stringent quality control process that kicks in right from the time the item is picked up to it being delivered.
How did this idea come about?
My fashion-forward wife is a compulsive shopper, and like any other woman her biggest pain point was having a closet full of nothing to wear. This got us thinking. We further went and surveyed close to three hundred young women. We quickly discovered that not only did they all have the same problem, but over 80 per cent were willing to buy and sell their pre-owned fashion items. Combining my tech knowledge and her fashion expertise together, we came up with the idea of launching a social platform dedicated to fashionable women, who want to make money while cleaning out their closets. The growth of retail-both offline and online-and the rapidly increasing spending power of women have resulted in overflowing closets filled with unused or barely-used items. StylFlip allows women to de-clutter closets, while making money to fund their next purchase. StylFlip hopes to revolutionise shopping by giving women across India an access to thousands of trendy, high fashion and luxury brands at a fraction of the cost. At the same time, the life of a fashion garment or accessory is also increased by reusing them.
Please share the current quarter highlights of StylFlip.
StylFlip, in a short span of four weeks, has been able to achieve over a thousand users with almost 40 per cent of them uploading at least one item to sell.
How do you expect the next two fiscals to turn out for StylFlip?
Over the next two years, we hope to establish StylFlip as the destination for buying and selling pre-owned fashion across India. We plan to make it a multi-crore business with growth in excess of 150 per cent year-on-year. We hope to put together a world class team as well as invest in our technology platform, so as to introduce new and innovative features which take us a step closer to our vision of having users that get access to an infinite closet, irrespective of their location while they constantly rediscover their style.
Fibre2Fashion has a diverse global readership, and delivers unique, authoritative and relevant content. Drawing on the expertise and credibility that we have built over the years and contextualising them with our in-depth research studies, we produce authentic news, articles, reports, interviews and interactive explainers through the F2F Magazine and compendiums, among others, which help readers stay abreast with the industry trends.