DSIM startup of the week “Jaypore”:

05/02/2016

How Jaypore, an e-commerce platform started from an old Haveli in Delhi reached to global customers through online presence?

jaypore

About Jaypore

Having shipped products to about 50 countries in just initial 30 months of their existence, Jaypore is a success story in the Indian handicraft scene like no other in the past.

Jaypore is a leading, private sales consumer brand that offers the best ethnic Indian merchandises from artisans and craftsmen from all across India, and delivers them at outstanding value to their exclusive customers around the globe. Jaypore focuses on products, including home decor, accessories, jewelry, apparel, gifts, and antique items with exceptional and superior craftsmanship.

Why we chose Jaypore as Startup of the Week?

• Jaypore transformed itself from an old Haveli to big online business.

• Jaypore today launches 6-10 new collections every day.

• Jaypore have customers in 50 different countries and are 80 people strong.

• They have a strong presence over social media platform Facebook with fan following of 240K.

• Instagram page showcase the beautiful art of the craftsmen and currently has 13.6K followers.

• Various interesting stories are landed over its Pinterest page and it has 3.6K followers right now.

• Jaypore grabbed the investment of 2 crores from investors during its initial days.

Idea behind Jaypore

It was eight in the morning, on a cold day of December 2011. Puneet Chawla was waiting at The Leela, Gurgaon to meet his future Co-founder Shilpa Sharma for mere 5 minutes. But the meeting took more time than expected and the duo visualized an idea of starting as an entrepreneur. They had planned for Jaypore.

Soon Puneet and Shilpa along with few friends and colleagues opened their very first office in Shahpur Jat, an old haveli in Delhi. Winter period was harsh and the day time was spent on the terrace, working under the sun, or on the streets taking shoots. The charpai on the terrace was to give comfort on a tiring day. Meetings and interviews happened in the neighborhood coffee shops.

While the company’s beginnings were modest, both Puneet and Shilpa were convinced of the idea. Puneet was earlier working in the e-commerce segment, selling Indian designer wear to an NRI audience in the US. During his time there, he realized that unlike e-commerce businesses in India that were spending big bucks to acquire local customers and convincing them to shop online, businesses that sold Indian products online to an audience abroad were far more efficient in acquiring customers, because of the strong word-of-mouth amongst the closely-knit Indian communities.

Jaypore was launched in August 2012 with an iPad-only shopping experience which later made its website operational and connected with rest of the world in January 2013. The start-up curates the work of craftsmen, designers and other producers, and works largely on a Sale or Return (SOR) model, showcasing a collection for up to two weeks. It also curates its own in-house label apparel and personal care products.

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USP of Jaypore

Jaypore has no shops or franchisees anywhere and they retail only online but the company has made a point to sell only the most genuine and authentic stuff to their clients. The detailed information about various products and handcrafts makes it possible for them to offer beautiful hand-crafted products of the highest quality to their customers. Jaypore today launches 6 to 10 new collections every day and have customers in 50 different countries and are 80 people strong.

Marketing and Promotion

Jaypore has based its marketing plans on word of mouth publicity as well digital marketing campaigns. One satisfied customer brings us 10 more is our mantra. This, we have seen to be very effective. Other than this, we try and target a relevant audience online on Facebook says Puneet. Personally delivering packets to South Delhi customers and requesting them to tell their friends about us in their early days helped the company retain a loyal customer base.

Business Model

Jaypore keeps a margin on each product that they sell over their platform. It’s a simple retail revenue. The team aims to position Jaypore at global level.

“At the right time, we want to build an offline presence to showcase the best of Jaypore, in our own inimitable style,” says Puneet. The e-commerce market in India is moving to grow to $100 billion by the end of 2020. In fact, the e-commerce market in India is growing recklessly.

Funding

Jaypore is a self-funded venture today although the company brought on board an angel investor on the first day of their launch. We are very particular about finding investors who will understand what we are building a great path. This is not the kind of business that can be scaled up and sold in 3-4 years says the founder and CEO of Jaypore. The founders along with investors have collectively invested over 3 crores in the business so far.

Future Plans

The biggest challenge Jaypore is facing today is to maintain a steady supply chain of electrifying products. The company is constantly innovating new product offering to stay a step ahead from its competitors. Of course keeping the workforce happy and motivated, achieving growth targets and risk management continues to be a constant challenge for Jaypore like other successful companies.

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