Darveys.com is based on an international marketplace model operating with 287 boutiques. “As it all started, achieving the first boutique was not exactly an easy task and made me realise the importance of comprehending that fine line between being persistent and patient” says, Nakul Bajaj, CEO Darveys.com.
How was Darveys.com conceptualised?
The shuffle between marketplace and inventory-led business models has been going on for a long time. The inventory to marketplace shift is majorly to debase inventory-based glitches. But this shift from an inventory-led model to marketplace is not an easy modulation. The biggest challenge confronted in embracing this kind of model is the customer experience. One of the major issues while conceptualising Darveys.com was to choose which business model would be the best suited for our company and our consumers. Darveys.com is setup on an International Marketplace model, where it ensures fragmented base of customers and sellers to get a distinguish price tag and interact with one another in an environment which is efficient, transparent and trusted.
How has darveys.com changed since the time it started?
Darveys.com was launched on 27th June 2014 with the aim to revolutionise the way people look at luxury fashion shopping in India. Thus our website is too new to pen down any major changes since the time of its launch. That being said, we are closely studying the behavior of every consumer on our portal so we can provide them with the best possible experience.
How long does an e-retailer take to break even?
The time required to break even for an e-retailer depends completely from business to business. There are various factors to take care like: brand building, backend operations, technological requirements and many more, all of them contribute to the time required to break even.
How is Darveys.com different from other e-commerce businesses?
Darveys.com, is an exclusive member’s only portal, a gateway to the elite Indian populace, desirous of a cosmopolitan fashion range. Our members savour the following highlights: Straight from the runway collection, directly from the fashion capitals of the world. Authenticity assurance to the extent of two times return of the price. Deeal of the day: Everyday a new designer product at an unbelievable ‘deal price’.Our daily 24-hour flash sale at incredible discounts, never to be seen again In order to relish the above delights, we welcome consumers to savour the priceless shopping experience for a minimal lifetime membership fee of Rs 1000, and explore our handpicked bona-fide fashion essentials from 70+Luxury Designers procured from 285+ Global Boutiques at unbelievable prices! Until and unless one registers with the membership, he/she cannot view all the products nor view all the prices of the products we have to offer.
Other online stores offer similar brands at similar prices. How is Darveys.com different?
I am glad I was asked this question, because since our launch, most people ask me how are we priced better priced than any other online store in the country. Since Darveys.com provides products from 285+ Global Boutiques, this opens up the way for pricing which is better than any other online/offline store in India. Our collection is wide in variety. The other stores in India usually offer a single colour of a particular pattern but we offer different colours and patterns in the same collection available at the international stores, that too at the comfort of ones home.
What is the current footfall on the website? Who shops more men or women and why?
As of now, the conversation rate for the footfall of visitors on Darveys.com is really high. With the increase in the awareness about e-commerce portals and luxury fashion shopping we expect an increment in the rate of potential visitors on our website. One of the oldest yet the most accurate stereotypes is that: women love to shop, for shopping is always cheaper than a therapy! But with the growing fashion sense amongst men, there is a certain number of male population, that loves exploring and shopping as much as that of women!
Customers often tend to opt for Cash on Delivery as they are uncertain of the right fit? How have you tackled this issue?
Exceeding our customers’ expectations is the ultimate goal of Darveys.com; and for that we have an option of Cash on Delivery.However uptil now most people are very sure about what they are buying, they are very specific with what they want and we have an entire team who coordinates with boutiques abroad to make sure the customer knows the right fit and size of every product before they place the order of the same.
Are there issues with different brands having different sizes?
Yes many brands have different sizing but they differ mostly by half a size, to make sure we provide the customer with the right size we have an entire team who coordinates with the boutiques abroad and makes sure the customer knows the correct size before ordering. Also we have formulated a perfect size guide for our customers keeping in mind the different brands.
What are the challenges in running an e-store?
There are a number of challenges in running an e-store like: Inventory and supply as per demand of customers, 24×7 Working, for a customer can place order or an inquiry at any time during the day. Selecting the merchandise for every season is really essential
What are the different categories and contribution of sales coming from women wear, kids wear and mens wear?
Women prefer to shop more of handbags and accessories whereas men look out for apparels and footwear.
What are your expansion plans?
Presently we have 70+ Luxury Designers procured from 285+ boutiques across the globe. In future we plan to increase the number of designers and boutiques so as to provide an umpteen range of products to our customers. Our future plans focus on increasing our range of boutiques and introducing more designers and products they have to offer. UAE would be the future target market for Darveys.com.
How has been the response of customers so far? Is luxury fashion getting affordable in India?
The customer’s response has been amazing. Definitely luxury fashion shopping has immense scope in India. Indian Consumers as of late have been more vigilant about luxury brands. This has paved way for the luxury market in India, which is expected to exceed the $10 billion mark by 2014. Targeting this market is however not an easy nut to crack! But for a country like India where the tradition of luxury and opulence is so much in common with that of Italy, I believe that there is a wonderful scope for immense growth of India’s Luxury market.
How important is the customer service in e-store buying?
Customer Service is according to me the strongest aspect of Darveys.com. The most important aim for any e-commerce portal is fulfilling and exceeding the customer expectations. Customers play a major role in making an e-commerce portal a successful and fundamental block in the e-commerce industry, and it is the customer service that can help with the same. Customer Service is the face of the company; it is the customer care executives that have face to face interactions with customers in every situation, theytry to handle, resolve and tackle customer issues with a positive perspective.
What are the challenges you have faced in bringing out the website?
Creating a website like Darveys.com has been quite a challenging task. We needed to understand the user interface and accordingly build the look and feel of the website. And also with the technological advancement, compatibility was another issue to make sure it is accessible through most devices.