Established in 2016, the lifestyle fashion brand has delivered over a million orders to date
Bengaluru: Founded in 2016, Madbow Ventures Limited is a lifestyle fashion brand that makes creative, distinctive fashion for trendy and contemporary women. It is one of the leading suppliers of ready-to-wear garments, footwear and lingerie in the women’s segment. The brand, which was created on the principles of honesty and thoughtfulness, aims to start a fashion revolution.
Getting the trend on-point
As the founder of Madbow Ventures Limited, Naveen Mahlawat believes that fashion and trends are ever-changing. “Fashion never becomes obsolete; newer fashion comes and the older fashion gets out of touch, just to be back after some time. But fast fashion is trending,and at Madbow Ventures, fast fashion is also our motto,” shares Mahlawat. He started Madbow Ventures to revolutionise retail. “My inspiration was the results we got and the happiness of customers. We kept on growing because we had an agenda: learn and grow no matter what the obstacle is,” adds Mahlawat.
The brand started by targeting a specific group of customers aged 16 to 25 years. “We offered them quirky products at reasonable prices which turned out to be a success. Our approach was simple: we had a passion to grow and learn irrespective of the hurdles. Lastly, we gave priority to customers and their needs, which made us who we are today,” conveys Mahlawat.
Innovation is the core of every successful product or brand, and the same goes for Madbow Ventures. “One cannot sustain a brand if one has the same products and inventory. The USP that makes us successful is being up to date with fashion (i.e. fast fashion) and offering pocket-friendly products to the masses,” says Mahlawat.
Growing with power
Madbow Ventures touched Rs 50 crore GMV in 2021 and has delivered over a million orders. To build a loyal customer base, the brand ensures that the quality of its product is always top-notch and the type of style and trend to the point or even ahead of time. Further, to stay close to customers, the brand does a variety of customer engagement initiatives. “At the end of the day, it is not about just selling to the customer but also about the retention of the customer,” adds Mahlawat.
When it comes to brand marketing, Mahlawat believes that market research and a healthy integration of technology are very important. “Technology is here to stay and progress; brands have to integrate useful tactics to sustain in the market. Our business model revolves around technology; everything from marketing to delivery requires technical adaptations. I am happy to say that our technological foundation is strong and we welcome changes as the situation demands,” shares Mahlawat.
How does Madbow Ventures tackle order fulfilment, which has emerged as a big game changer in retail? “A brand simply cannot be 100% when it comes to order fulfilment but at Madbow Ventures, we try our best to manage. Delivering across 28,000 pin codes itself is a big thing for us, but with a great team effort and logistical advances, we can deliver our products on time,” conveys Mahlawat.
Just like any other start-up in the fashion sector, Madbow Ventures faced quite a few challenges. “We just had an idea but working on it required learning the market, logistics and integration of all the key elements. To create a strong customer base, we worked on great product quality, and customer satisfaction and engagement. These were not obstacles but rather learning experiences for us,” says Mahlawat. The brand stood strong in times such as demonetisation and the Covid-19 pandemic, which Mahlawat consider to be significant achievements. Further, he believes that the brand still has to achieve a lot and the highest peaks are yet to be conquered.
Taking the big leap
Mahlawat started Madbow Ventures with his savings and invested the same that he earned. “Positive cash flow and lesser debt enabled us to survive without any external aid. Once we were established, we managed to get funds worth $2 million for expansion,” says Mahlawat.
Madbow Ventures presently has two offline stores. Mahlawat has great plans for the brand’s future which includes opening more offline stores and B2B collaborations with the giants of this field, at both national and international levels.
Brownie Points
- Madbow Ventures has expanded from just two labels to six labels.
- It reached a whopping revenue of Rs 50 crore GMV in 2021.
- Madbow Ventures has delivered over a million orders to date.
- The brand presently has two offline stores.
First appeared in The India D2C Yearbook 2022
