Lifestyle e-store Fashionara integrates marketplace into existing platform
Online fashion and lifestyle store Fashionara.com has tweaked its business model from being a pure play fashion portal to an online marketplace for fashion products. For the same, the company has launched F.lea Bazaar, a sub section within the site that offers items from sellers and boutiques from across the country.
"A close look at the wardrobes of our customers shows that while branded products form a large part of what they wear, they are also keen on unique and kitsch products that they can mix and match to design a unique look. However, finding these products is a tough task as they are not available online or in the comfort of a mall, but in small chic shops at flea bazaars," said Arun Sirdeshmukh, co-founder and CEO of Fashionara.
Currently, the section offers over 15,000 products including home products & stationary, kitschy mugs, fancy accessories, personal care products, funky footwear, bags and apparel. Most of these are from niche sellers who sell through stalls at renowned flea markets as well as platforms like Facebook.
Launched with about 200 sellers, the company is looking to increase this number to 500 by the end of next month. Besides, Fashionara already has about 400 brands on board. With F.lea Bazaar, the company claims to have taken the shape of a fashion mall with branded showrooms, surrounded by a curated flea market- enabling shoppers to dig, discover and get their hands on the best of both worlds.
Fashionara was founded by Sirdeshmukh, former chief executive of Reliance Trends, and Darpan Munjal, former CTO of Times Internet Ltd who had also worked at the e-commerce unit of US retail giant Sears. In May 2012, the company had received an undisclosed amount in funding from Helion Venture Partners and Lightspeed Venture Partners.
It faces stiff competition from leading fashion players like Myntra.com (acquired by Flipkart) and Rocket Internet-backed Jabong.com.