Exclusive Conversation:Deepali Pangasa,CEO and founder of www.anditsnew.com
Deepali Pangasa,CEO and founder of www.anditsnew.com is an ex management consultant who gave up a very successful 8 year stint with one of the leading consulting firms of the world to follow her love for fashion. Having lived and worked in various countries across the world, she is now pursuing her vision to make anditsnew, India’s first website focusing on exclusive eclectic fashion apparel and accessories from emerging designers. An MBA from one of the top business schools in India, Deepali also completed a course in Fashion Marketing Management from London College of Fashion before starting this venture.
What was the idea behind starting the venture?
I started www.AndItsNew.com to bring the art and the uniqueness of fashion from the small by lanes, the evening markets, small boutiques and the one-off exhibits across the world onto one platform. It is an attempt to bring the most inimitable, exceptional fashion to your doorstep. It is a way of honouring and celebrating the artists and the crafts-persons behind these designs, to hear their stories, their inspiration and the journey that each piece undertook to reach your hands.
Please brief us about your business model?
Our website is a marketplace. Any designer, big or small, can register and start selling as long as they agree to adhere to the website guidelines. We help the designers reach out to a larger group of customers through our social media and marketing efforts in return for which we charge a small commission.
What is your target group? Are there any significant trends or patterns that you have witnessed in the consumer buying?
We target the fashion conscience women who are not limited by brands. Our customers are people who are willing to accept beautiful articles without the stamp of a multinational on it. People are very trend aware these days and the pattern of buying is closely aligned to what’s making waves in the domestic as well as international markets. As long as you can offer a trendy product to the consumers, they will buy it.
What are your major offerings?
How has been the uptake of the business so far?
Our brand is well positioned in the minds of customers who have bought from us. Our social media and branding efforts have been well noticed and more and more people are hooking up to the website now. The sales has been picking up constantly as the brand is evolving.
Tell us about your three most successful user acquisition methodology?
In an e-commerce business the number one customer acquisition methodology is Digital marketing and Google would be the number one generator for hits and sales. Social Media is another critical factor in building the brand as well as generating the sales. It is important for a new business to understand that customers don’t start buying rapidly from the new site as soon as it’s launched, consistent social media activity and brand building goes a long way in gaining customer trust. The other good customer acquisition methodology is by sending newsletters and having incredible content on your website and aligned pages. This helps in keeping the interest of a customer in coming back to the website even if it’s not for shopping.
Tell us about your three major challenges and how did you overcome them?
One of the major challenges initially was to get designers on board. Since none of the people in the co-founding team came from fashion per se it was difficult to get the designers to join us. Once we had the steam going and ten designers joined in one thing led to another and we now have about 85 registered designers on our website.
There are a considerable number of players in the market. What would you say differentiates your venture from others?
Most of the websites out there either cater to a mass market which sell clothes but do not sell fashion. Or, they cater to very high end customers who buy runway clothing. We have positioned ourselves somewhere in the more relatable mid segment where we bring extremely well curated fashion to our customers. Our content, our products, our branding is very clearly aligned to a contemporary fashion conscience audience who want to be a frontrunner when it comes to personal fashion.
What are your future plans?
We plan to expand our lines to menswear soon and also want to start adding designers from across the world to provide a more diverse fashion experience to our users.
Let’s start shopping: www.anditsnew.com
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