Bewakoof is a one-of-a-kind online fashion and lifestyle E-commerce firm. It provides a fashionable range of clothing centred on sparkling and joyful patterns that appeal to millennials. Bewakoof was founded in 2012 by Prabhkiran Singh and Siddharth Munot.
According to The Economic Times and CNBC, the brand had an average monthly sales of 650,000 goods and a client base of over 4 million by the end of 2019.
Bewakoof.com claims to be a lucrative e-commerce site, with a current fiscal revenue of more than Rs 10 crore. “We are self-sustaining and expanding at a rate of 15-20% month on month,” says Co-founder Prabhkiran Singh.
• Legal Name : Bewakoof.com
• Parent Organization : Bewakoof Brands Pvt. Ltd.
• Headquarters : Mumbai, India
• Founding Date : April 1, 2012
• Sector : Fashion, E-commerce
• Revenue : $28.33 mn (INR 210 crore in FY20)
• Total Funding : $24.6 mn (2021)
• Website : bewakoof.com
TEAM
• Co-Founder : Prabhkiran Singh
• Co-Founder : Siddharth Munot
JOURNEY
Bewakoof.com, founded on April 1, 2012, by IITians Prabhkiran Singh and Siddharth Munot, has depended on quirky, hilarious, and out-of-the-box marketing on its goods to connect with customers. Siddharth previously worked for an education company, while Prabhkiran ran a firm called ‘KhadkegLASSI’ that sold fresh flavoured lassi through take-away restaurants.
Bewakoof.com began with a Rs 30,000 investment and obtained seed funding after six months of operation. They also received institutional angel capital a few months ago from Snapdeal founders Kunal Bahl and Rohit Bansal, as well as Nikhil Vora, former MD of IDFC Securities.
Siddharth said of their decision to name their enterprise Bewakoof, “We basically got fortunate with it.” We had a pastime in college of purchasing distinctive domain names that we could later sell for a profit. Bewakoof.com was purchased two years before the brand’s inception. When we were creating our lifestyle brand, we recognised the importance of having a strong brand name and domain — something short and easy to remember. The dots were properly linked, and Bewakoof.com was the ideal decision. It’s also ideal for marketing because it’s catchy and different. People remember our brand name for the rest of their life once we grab their attention with it.”
Bewakoof.com sells clothing and phone cases. It claims to make Rs 1.5 crore in monthly transactions, with t-shirts being their main sellers. Their best-selling goods are their ‘Ghanta’ range of t-shirts for college students with messages like ‘Ghanta Engineering/Ghanta MBA,’ etc. Students and young people aged 16 to 34 make up a sizable portion of their client base.
Bewakoof.com introduces new designs based on their observations of lifestyle and fashion trends, as well as listening to its 1.50 million social media admirers. “Today, in the fashion sector, opportunities do not always go to the biggest and most established players, but to the fastest.” “We work extremely closely with our followers on Facebook and other social media platforms, as well as other consumer engagement tools, and incorporate their feedback into what we do,” Siddharth adds.
Siddharth describes their plan to launch mobile phone covers as a great potential and the next forthcoming lifestyle category. Although they had intentions to introduce additional accessories, when they recognised a growing demand for mobile accessories, mobile covers became the first choice.
Bewakoof.com began selling via WhatsApp a few months ago, and they now claim to be generating 15% of their entire sales through the instant messenger. Customers must indicate the product name, their name, and address in a WhatsApp message to 7666655001, the service’s official number. The creators claim to have handled 10,000 client pings, which included order placing, enquiries, recommendations, and repeat encounters.
The programme has also reduced reliance on traditional customer support outlets such as phone calls and emails, which experienced a combined decline of about 35-40% in volume. “By being on the contact lists of tens of thousands of individuals, we are fulfilling our aim of becoming a friend to our consumers rather than merely a brand interested in selling them products.” “We’re really only a ping away now,” Prabhkiran adds. They are aiming for a 25% increase in sales through WhatsApp alone by the end of the month.
Bewakoof employs about 150 workers to guarantee that all elements of the machinery are operational. One of the startup’s primary challenges was ensuring that its products were being displayed to the appropriate audience. “You end up squandering a lot of money on this.” “We tried a lot, and through numerous trial and error approaches, we were able to lower our Cost per Acquisition to the lowest by industry standards,” Siddharth explains.
