Being Human is setting up its own e-commerce store, as it looks to cash in on India’s growing appetite for online shopping. The brand, which currently sells through its own retail stores, major department chains such as Shoppers Stop, as well as through online fashion retailers, including Flipkart, Myntra and Jabong, plans to have its own web-based store operational by December.”About 15 percent of our top line comes from the e-commerce channel. The opportunities are huge, given that India has 10 million online shoppers, a number that’s growing at a compounded rate of 30 percent annually,” said Manish Mandhana, Joint MD at Mandhana Industries.Mandhana said that the company was currently in talks with several technology ventures to create the back-end structure for its upcoming online store. “We hope to zero in on a partner soon, who will build our software platform, along with our supply-chain, logistics and reverse logistics,” he said.The creation of its own online store will also help the brand to strategically showcase its fashion lines, establish price points and develop loyalty programmes. “It will help us lower our cost of operations and should have a positive impact on our EBITDA and margins. But we will use all available channels to retail our products,” Mandhana said.According to Mandhana, up to 7 per cent of its total sales is funneled back to the Being Human foundation as royalty. “Our online store will also act as platform to support NGOs, especially those that work towards creating livelihood for women and the disabled, and sell their products, Mandhana said.
The brand, which has 22 stores across the country, earned revenue of Rs 145 crore in FY14 , and expects sales to range between Rs 225 crore and Rs 250 crore in FY15.