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Fashion etailer Voonik plans to launch private brands
22 Aug '16
1 min read
Online fashion retailer Voonik has plans to launch its own private brands over the next three months and is in the process of readying itself with various aspects of creating a private label.
"We will sell private brands on the seller fulfilled model and are currently trying to figure, which select sellers to choose for the project, and also how to ensure sourcing material is seamless," CEO Sujayath Ali told Times of India.
The fashion retailer will seek the experience of its recently hired COO, Raghu Lakkapragada, an Amazon India veteran, for this initiative.
"Private labels can be successful if the implementation is right and a lot of other companies are also moving in that direction," Lakkapragada too said.
According to Ali, Voonik has touched an annual gross merchandise volume (GMV) run rate of $100 million and might reach $250 million run rate by March 2017-end.
Started in August 2014, Voonik, claims to have 10 million registered users with 8 million app downloads. (AR)
"We will sell private brands on the seller fulfilled model and are currently trying to figure, which select sellers to choose for the project, and also how to ensure sourcing material is seamless," CEO Sujayath Ali told Times of India.
The fashion retailer will seek the experience of its recently hired COO, Raghu Lakkapragada, an Amazon India veteran, for this initiative.
"Private labels can be successful if the implementation is right and a lot of other companies are also moving in that direction," Lakkapragada too said.
According to Ali, Voonik has touched an annual gross merchandise volume (GMV) run rate of $100 million and might reach $250 million run rate by March 2017-end.
Started in August 2014, Voonik, claims to have 10 million registered users with 8 million app downloads. (AR)
Fibre2Fashion News Desk – India
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