Three IITians including Vivek Gaur launched India’s first online fashion brand in 2011. The other two were Sandeep Sharma, and Anand Jadhav. The idea was to keep only men’s accessories but the profitability of bigger women’s shopping list made the trio add the section as well. The business proved to be successful as the company delivered apparels and other accessories over a thousand cities and reached to over five lakh customers in a month. The company runs on Fast Fashion model (keeping the stock fresh and updated). Here’s more info.
Personal Details / Wiki / Bio
|Date of Birth||N/A|
|Schooling||DPS RK Puram
(1984 – 1986)
|Graduation||Delhi College of Engineering
B. E. Mechanical
(1986 – 1990)
|Post-Graduation||Indian Institute of Management, Lucknow
Master of Business Administration (MBA) – Marketing
(1991 – 1993)
Residential Contact Details
Official Contact Details
|Address||Building No. 5, Gurgaon, Haryana 122002|
|Phone number||91-124-439 5000, 011-66372424|
Yepme (Vas Data Services Private Limited) (Apr 2011 – Present)
|Also worked at||Business Head North & East, Magazines
HT Media Ltd
Dec 2009 – Apr 2011
Duration 1 yr 5 mosExecutive Director
Living Media India Limited
Jun 2003 – Dec 2009
Duration 6 yrs 7 monthsRegional Sales Manager
Hindustan Unilever Ltd
1993 – 2003
Duration10 yrsGeneral Engineering Trainee
1990 – 1991
Vivek had the basic idea of what the buying patterns are, what the shoppers want, and how to reach the target audience. He had working experience in the e-commerce domain, having delivered projects like Bagittoday.com and worked at senior positions, he knew the success recipe of a fashion store that would operate online and deliver trendy outfits to people who are not living in metro cities. His partner Anand Jadhav being a supply chain expert was dealing with Pantaloons, Shoppers Stop, and other such big names.
All three partners knew that big brands were never going to sell their fresh articles at discounted prices. And the online market didn’t mean much to them as their routine customers were from metro cities where these brands had established outlets. E-commerce market was struggling since these brands left no margin for them and every online seller was selling similar articles.
The brands were taking advantage of the fact that people living in metro cities are more brand conscious than quality conscious. Holding a shopping bag from an expensive store matters a lot to them. And that’s why most of the brands keep their outlets stationed at malls and top-niche places.
Vivek and his team wanted to break this cycle. They wanted to turn this model upside down. The people in Tier II and Tier III cities wish to stay up to date with the latest trends but do not have the required resources. Vivek decided to offer them what they need – affordable fashion. The trio started a range of fashion apparels, footwear, accessories etc. under the name Yepme.
Since smaller cities do not have retail outlets of big brands, people immediately accepted this range of fashion wear privately labelled by Yepme. Very soon over six million people got associated with the company. In no time, the company was awarded with recognition. Forbes rated Yepme.com amongst the top 5 e-commerce startups. In 2014, it was awarded “Web-only Brand of the Year” by e-Tailing India. YepMe was also ranked among the top 20 fashion brands in the world by Stylophane.
Though YepMe sells through its own website as well, the company did not hesitate to tie-up with Flipkart and Snapdeal to connect with more customers. Also, they are planning to establish retail outlets under their name soon.
There are a number of things that need to be added in Yepme, to make it a lasting name in the e-commerce industry. It is ahead of its competitors, but that’s not enough. Yepme has proved to be profitable and at times has faced huge losses as well. There is merit in what the company offers, but to keep it going, there’s definitely a long list of accomplishments to be checked with.
|28 million dollars||TC Capital, Helion Venture Partners, Capricorn Investment Group etc.|
|75 million dollars||Khazanah Nasional||2015|
|700 thousand dollars||Kolkata-based Rainbow Digital Services Pvt. Ltd and Noida-based ILearnFinance Academy Pvt. Ltd||2017 April|
|45 million dollars||Gokaldas Exports Ltd.||2017 May|
Total funding received = 90 million dollars
Rounds = 5
Major investors = 6
Star celebrities like Kangna Ranaut, Farhan Akhtar, Shahrukh Khan, Sonu Sood, Esha and Gupta have served as the brand ambassadors for YepMe.
Lesser known facts about Vivek Gaur
- A clever strategy was appointed by Vivek, of putting the ‘Lookbook’ and a ‘Blog’ section on the website where people could know about the latest trends. People often buy things which they see celebrities wearing, so this idea really is a sales-booster.
- As per Vivek, there are two types of shoppers.
a) Who wish to spend a reasonable amount on branded products to look stylish and trendy.
b) Who do not worry about the label but wish to look stylish and trendy.
- During the first few years, Yepme also organized a fashion show in Delhi, being the first online retailer to do so. Vivek is known for his out of the box ideas and its amazing to see them work.
- Vivek and his friends made it convenient for people to shop in their regional languages, to ease the process for them.