DSIM Startup of the Week: Voylla.com

07/10/2016
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How Voylla marked its entry into the Indian online jewellery space? 

About Voylla

Voylla.com is an online retail store to buy precious designer jewellery and accessories at affordable prices for both men and women.

It pools together the talents of a swarm of designers across the country to create jewellery, handbags and accessories.

Voylla product collection comprises of 10,000+ products, 35,000+ unique designs and about 500 new designs added every week.

Founded in 2012, the brand has an omni-channel presence (offline and online both). It is customer centric online venture; the vision is to serve customers as per their requirements.

Why we chose Voylla as Startup of the Week?

  • It sells semi-precious, precious metal, and gem stone jewellery and accessories for women & men.
  • Its offer easy to maintain yet sophisticated jewellery and accessories.
  • It also promises of Quality, Exclusivity, and Affordability.
  • It assures delivery at customers’ doorstep within five to seven days from their order.
  • The diamond range, certified by Diamond Trade India, starts from INR 820 while the pure silver range starts from INR 750.
  • The accessories range starts at INR 500, comprising of attractive handbags, clutches, stoles and wraps in both traditional and fashionable designs.
  • The company has online as well as offline presence.
  • Vollya has got colossal visibility on social media with 526,425 fans on Facebook and 2,653 followers on Twitter. Instagram and Google+ have a more than 4,580 & 1,190 followers respectively. Pinterest has whopping 1.5K followers.
  • The no. of visitors coming from organic traffic is 1250+.
  • With more than 598.50K unique visitors a month has 38.03 K pageviews per day.

The Idea

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Founded in 2012 by ex-Amazonian, Vishwas Shringi, Voylla created as an online portal for designer attire. He worked in US and returned back to India in 2011.

He started “Voylla”, when E-commerce looked promising. In course of time, he added artificial jewellery and soon comprehended that it was doing ample well than clothing. So, in 2012, Voylla  shifted emphasis entirely to become an online portal for artificial jewellery.

Business Model

Voylla has an Omni-channel strategy model. It is retailing the jewellery on its website, online portal and through brick and mortar stores. Voylla executed the model into business to maximize revenue and customer reliability by offering convenience and choice to its customers.

In addition, Voylla  has also exerted an affiliate program to spread their audience reach. The conversions on Voylla via traffic referred will earn a 10% commission on every transaction to the affiliate.

Funding

In 2015, Voylla has raised $15 million in new funding led by private equity firm Peepul Capital. Previously, the company had raised two rounds of the fund in 2012 and 2013 from Snow Leopard Technology venture and from angel investors.

Future Plans

The future of the E-commerce jewellery space seems to enormously promising and the size of the opportunity is valued at $2.4 billion.

The growth rate for fashion jewelry is predicted to be higher than that of precious jewellery at 22% CAGR in the next three years.

The company derives an overall business of about 12% from its international e-commerce tie-ups and intent to touch a 20% mark by 2017. The company has three stores currently, and plans to expand its physical stores.

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