The e-commerce market growth and the rise of online shoppers are slowly leading to the growth of the D2C brands in India. However, to stay put in this new environment, brands need to tighten their operations further to make their customer-facing position strong in nature.
Technology implementations can also change the way the brand functions and make its operations seamless along with the brand operations to make them connected with one another, ensure the customer approaches are strengthened, and made it agile for every function.
The panelists were:
- Supriya Shirsat Satam, Founder and Creative Director of FOReT
- Shezaan Bhojani, Co-Founder and CEO, Design Cafe
- Ranjan Sharma, CIO, and Head of Supply Chain & Captive eCommerce, Bestseller
- Anoop Haridasan, Co-Founder, Liberate Foods And the session was moderated by Khyati Jha, Managing Partner, Spectrum Partners
- Agility, Nimbleness, Functionality, Cost Efficiency – are the four pillars needed to create an excellent front- end and back-end D2C atmosphere.
- How do you excel where even the bigger companies have had a tough time getting together their act?
- Building a Profit around each of the operations that make the bulk of your overheads
- Trimming the costs without affecting the quality
Building sustainability and green pledges into each of your operations cycle
One of the challenges to building a D2C brand is to drive customer behavior. In terms of Jewellery, it is difficult as people want to feel and touch it before making a purchase. Supriya Shirsat Satam, Founder and Creative Director of FOReT told us about the challenges she faced while building the brand “Customers can get eco-friendliness and stylishness through our product. With FOReT, we are crafting products out of natural materials in a way that they are not acting as alternatives, but as mainstream products. We use materials like cork which is popularly known as a wine bottle stopper that comes from the bark of cork trees. The whole myth behind sustainability is that if the product is eco-friendly, it won’t be stylish or visually appealing. With the right kind of material, we are changing this perception by offering unique products.”
She further explains and highlighted, “Fashion is a personal statement and nobody can change it easily. We are offering a product that is fashionable yet sustainable so that they can easily adopt that in their daily lives. We’re not preaching sustainability but actually condescending it.”
There’s no right time to raise the funding, it totally varies no company to company. Fundraising is a marathon for the brands and a lot of challenges are faced by the founders to reach that stage. Shezaan Bhojani, Co-Founder and CEO, Design Cafe talking about the challenges stated, “Our Series A round was difficult, as we were worried whether the space will get scale or not, and understanding how designers will function. But we got a great investor who understood everything. In the Series B round, we got West Bridge Capital which was a large private equity firm. I think the key for any young founders and entrepreneurs trying to raise the capital is to get a Series A from a good investment which can help you to scale your business in the large market and then move further with a B round with the investor that can help you to win the market.”
He further explained, “As a brand, you should have an answer to the question of why are you uniquely poised to win the market, especially if there are early and funded companies that exist in the marketplace. We got the question that if there are companies like Pepperfry and Homelane already existing, then what different practices will you do to scale the business. Getting the right investor on board at the front and the idea behind it should be executed perfectly.”