-
Monthly website traffic surpasses 2.5 million hits
-
Over 6 million customers have been served to date
-
Monthly addition of more than 1 lakh new customers
-
2 million products sold thus far
-
It boasts a collection of over 3000 style trends
-
Ships merchandise to over 90 countries
-
Delivery is available in over 19,000 PIN codes across India
-
Total of 150,000 subscribers
-
More than 40.1 lakh Facebook followers
-
Active Twitter followers exceeding 8,700
-
2 million products sold thus far
-
Over 2.39 lakh Instagram followers
-
Processes transactions worth INR 1.5 crores per month
-
Recently introduced a women's clothing category
Bewakoof Business Model: Online Shopping App
Online shopping is not a trend, it's a lifestyle.- Karl Lagerfeld
Are you ready to dive into a land where style meets comfort and trends collide with affordability? Our journey through the Bewakoof business model is set to be thrilling! So, brace yourself for an exciting ride!
Picture this: an enchanting online shopping app that blends fashion-forward apparel, quirky accessories, and irresistible merchandise, all with delightful humor! Prepare to be mesmerized by their genius blend of style and silliness, where fashion meets fun in the most unexpected ways.
Join us as we unravel the secrets behind Bewakoof's phenomenal success, its knack for understanding the pulse of the millennial generation, and its innovative approach to e-commerce. Prepare for an exhilarating adventure filled with insights, laughter, and an irresistible urge to upgrade your wardrobe!
So, fellow fashion enthusiasts, buckle up and get ready to explore the captivating world of Bewakoof - the epitome of trendy, affordable, and downright awesome online shopping! Let's dive in, shall we?
Bewakoof - Startup Story | How was Bewakoof Started?
Bewakoof is an Indian e-commerce startup that specializes in casual wear and accessories. It was founded by Prabhkiran Singh and Siddharth Munot in 2012. The word "Bewakoof" in Hindi translates to "fool" in English, and the company's name reflects its mission to create a brand that embraces a carefree and youthful spirit.
The story of Bewakoof began when Prabhkiran Singh and Siddharth Munot, who were childhood friends, identified a gap in the Indian market for affordable, trendy, and comfortable casual wear. They noticed that most of the options available were either expensive or needed more quality.
Bewakoof - Company Highlights
| Startup Name | Bewakoof |
|---|---|
| Headquarters | Mumbai, India |
| Sector | Fashion, E-commerce |
| Founders | Prabhkiran Singh and Siddharth Munot |
| Founded | 2012 |
| Parent Organization | Bewakoof Brands Pvt. Ltd. |
| Revenue | $28.33 mn (INR 210 crore in FY20) |
| Total Funding | $24.6 mn (2021) |
| Website | bewakoof.com |
To fill this gap, they started Bewakoof as an online T-shirt brand. Initially, the business operated from a small room in Mumbai, where Prabhkiran and Siddharth handled everything from designing to packaging and shipping.
One of the key factors that contributed to Bewakoof's early success was its focus on understanding customer preferences and providing unique designs that resonated with the Indian youth. They aimed to offer products that were not only stylish but also reflected the quirks and attitudes of the target audience.
To reach a larger customer base, Bewakoof used online marketing techniques and social media channels. They made use of social media sites like Facebook, Instagram, and Twitter to promote their goods, interact with customers, and build an online shopping app community. This assisted them in building brand awareness and drawing a sizable fanbase.
As Bewakoof gained popularity, they expanded their product range beyond T-shirts to include other categories like joggers, shorts, dresses, mobile accessories, and more. The company's commitment to quality, affordability, and trendy designs struck a chord with young Indian consumers, and Bewakoof quickly became a go-to brand for casual fashion.
Over the years, Bewakoof continued to evolve and innovate. They adopted a direct-to-consumer model, eliminating intermediaries and reducing costs, which allowed them to offer competitive prices to customers. The company also built a robust supply chain and optimized operations to ensure efficient order fulfillment.
Today, Bewakoof has grown into a successful online fashion brand with a wide range of products and a strong customer base. It has expanded its presence beyond India, catering to international markets as well. The company's journey is a testament to the founder's entrepreneurial spirit, understanding of the market, and ability to connect with the target audience.
Bewakoof - Growth and Revenue
Before diving into the Bewakoof business model, go through the growth & revenue of Bewafoof. Bewakoof has achieved several significant milestones in its growth journey. Here are some notable achievements:
-
During the financial year 2022, Bewakoof generated revenue exceeding 1.5 billion Indian rupees from product sales.
-
Additionally, their income from communication services amounted to 74.2 million rupees in the corresponding period.
-
Over 10 million users have downloaded the app.
-
Currently, there are more than 5 million active users on the platform.
-
On an average day, the app receives around 500,000 visits.
-
The monthly revenue generated by the app is approximately $2 million.
-
Delivery is available in over 19,000 PIN codes across India
-
The order fulfillment rate stands at an impressive 95%.
-
The return rate for products purchased through the app is around 10%.
-
The average order value on the platform is $30.
-
The app records an average of 500,000 monthly orders.
-
The number of registered users on the app has reached 8 million.
-
The user retention rate is estimated to be 70%.
-
The app has a social media following of 2 million users.
-
The company employs 500 individuals to operate the app.
-
Bewakoof's market coverage extends to over 100 countries.
-
The app has been experiencing a yearly growth rate of 30%.
On July 13, 2021, Bewakoof business model expanded its product range by launching Cosmos Beauty, venturing into the beauty and cosmetic products industry. The name "Cosmos" was chosen to reflect the brand's inspiration from natural ingredients and minerals, which are incorporated into its products' designs, packaging, and formulation.Cosmos Beauty's initial lineup consisted of 43 products, including day and night creams, serums, bath salts, and other items. In the fiscal year 2020, the Bewakoof business model generated INR 208.33 crore in revenue from operations, showing a 27% increase compared to INR 164.22 crore in FY19.
However, the company's EBITDA margins declined from 3.56% in FY19 to -9.5% in FY20, and it reported consolidated losses of INR 28.26 crore for FY20. Bewakoof Brands Private Limited reported operating revenue between INR 100 crores and INR 500 crores in the fiscal year ending in 2019.The company's EBITDA experienced a significant increase of 65.75% compared to 2018, and its net worth rose by 7.39%.
The estimated annual revenue for Bewakoof in 2019 was $15.1 million. Over the years, Bewakoof has transitioned from solely selling t-shirts to becoming a business with a turnover exceeding INR 100 crores.
Top 7 Online Shopping App Like Bewakoof
| App Name | Description | Ratings | Downloads (approx.) |
|---|---|---|---|
| Myntra | A popular fashion and lifestyle app in India, offering a wide range of clothing, footwear, accessories, and more. It features a user-friendly interface, personalized recommendations, and frequent discounts. | 4.4/5 | 100 million+ |
| Ajio | Ajio is an Indian e-commerce platform that focuses on fashion and lifestyle products. It offers a curated selection of apparel, accessories, footwear, and more from various brands and designers. The app provides a seamless shopping experience and regular deals. | 4.2/5 | 10 million+ |
| Limeroad | Limeroad is an online shopping app that combines fashion, home decor, and lifestyle products. It offers a diverse range of clothing, accessories, home furnishings, and more. The app also includes a feature where users can create and share their own fashion scrapbooks. | 4.2/5 | 10 million+ |
| Koovs | Koovs is an Indian fashion e-commerce platform that caters to trendy and affordable fashion. The app features a wide selection of apparel, footwear, and accessories for men and women. It provides exclusive deals and discounts on a regular basis. | 3.9/5 | 5 million+ |
| Voonik | Voonik is an online fashion marketplace in India. It offers a vast collection of apparel, footwear, and accessories for women. The app focuses on personalized recommendations and allows users to shop based on their body type, style preferences, and more. | 4.1/5 | 10 million+ |
| Tata CLiQ | Tata CLiQ is a multi-category online shopping app that offers a wide range of products, including fashion, electronics, home appliances, and more. It features a blend of Indian and international brands, with an emphasis on quality and authenticity. | 3.9/5 | 10 million+ |
| Shein | Shein is a global fast-fashion brand known for its affordable and trendy clothing. The app offers a vast selection of apparel, accessories, and footwear for women, men, and kids. It provides frequent discounts, new arrivals, and a user-friendly shopping experience. | 4.4/5 | 100 |
Key Products and Services of Bewakoof App
Fashion brand Bewakoof offers a wide range of trendy and casual apparel for men and women online. The Bewakoof business model is a platform for customers to browse and purchase their products. Here are the key products and services offered by the Bewakoof app:
-
Clothing
The Bewakoof business model provides many clothing options for both men and women. It includes t-shirts, shirts, tops, dresses, sweatshirts, jackets, bottoms, and more. The clothing is designed to be stylish, comfortable, and suitable for casual wear.
-
Mobile Covers
Bewakoof offers a variety of mobile covers that are designed to protect and accessorize smartphones. These covers come in different designs, colors, and themes, allowing customers to personalize their devices.
-
Footwear
Bewakoof business model also features a footwear collection, including shoes, sneakers, flip-flops, and sandals. The footwear range complements the casual and trendy style of Bewakoof's clothing.
-
Accessories
Bewakoof offers a selection of accessories such as backpacks, bags, wallets, and sunglasses. A brand's overall look and style can be complemented with these accessories.
-
Customization
The Bewakoof business model allows customers to personalize their purchases through customization options. For example, customers can add their names, initials, or custom designs to certain products like t-shirts or mobile covers.
-
Offers and Discounts
Bewakoof frequently provides discounts, offers, and sales on its app, allowing customers to avail themselves of attractive deals and save money on purchases.
-
Easy Navigation and User Experience
The app is made to offer a smooth and convenient experience. Within the app, users can quickly browse through various categories, filter products based on preferences, and complete safe purchases.
-
Customer Support
Customers can contact customer support using the Bewakoof app with any questions or issues. Customers can get in touch with the support staff using the app for help with orders, returns, or general questions.
Overall, the Bewakoof business model offers a convenient and comprehensive platform for customers to explore and purchase trendy clothing, footwear, accessories, and mobile covers while providing customization options and discounts to enhance the shopping experience.
Bewakoof Business Model: Online Shopping App
Bewakoof is an Indian online shopping brand primarily operating through its mobile app. Here is an overview of the Bewakoof business model, highlighting its key features and strategies, presented in bullet points:
-
Online Shopping Platform
The online shopping platform is one of the most important and core parts of Bewakoof's business model. Bewakoof operates as an e-commerce platform, providing customers with a wide range of trendy clothing and accessories options through its mobile app.
-
Target Audience
When it comes to the Bewakoof business model target audience segment is of the essence. The brand primarily targets young, fashion-conscious individuals in India who prefer convenient online shopping experiences and value trendy yet affordable products.
-
Product Offerings
Bewakoof business model offers a diverse range of products, including t-shirts, shirts, dresses, joggers, shorts, footwear, bags, and mobile accessories. These products are designed with quirky and unique graphics, appealing to the brand's youthful and vibrant customer base.
-
In-house Design And Production
Bewakoof business model follows an in-house design and production model, allowing them to maintain control over the entire product development process. This lets them quickly respond to changing fashion trends and deliver fresh and exclusive designs.
-
Direct-to-Consumer Approach
By operating solely through their mobile app, Bewakoof business model eliminates the need for intermediaries and physical retail stores. This direct-to-consumer model helps the brand maintain competitive prices while providing a seamless shopping experience.
-
Mobile App Features
Bewakoof business model offers a user-friendly interface that allows customers to easily browse through products, view detailed product images, read customer reviews, and make secure online payments. A personalized recommendation system is also available in the app based on the user's preferences. Hire Android app developers if you want to build these features in your app, like Bewakoof.
-
Limited Period Collections
Limited-edition collections and joint ventures with well-known brands or franchises are prominent features of the Bewakoof business strategy. Customers are prompted to make hasty purchases thanks to this tactic's perception of exclusivity.
-
Focus On Quality And Affordability
Bewakoof emphasizes delivering high-quality products at affordable prices. By keeping production costs in check and optimizing their supply chain, they can offer competitive prices without compromising product quality.
-
Community Building
Bewakoof builds a community of engaged customers by incorporating interactive elements within its app and social media platforms. The Bewakoof business model encourages customers to share their experiences, provide feedback, and participate in contests and giveaways.
-
Social Media Marketing
Bewakoof leverages various social media platforms, including Facebook, Instagram, and YouTube, to promote its products, engage with its audience, and drive traffic to its mobile app. Bewakoof business model collaborates with influencers and runs targeted ad campaigns to expand their reach. Online shopping app development costs with extensive features and marketing policies will vary. Hence if you are interested in development, you can contact our experts for cost estimation.
-
Customer-Centric Approach
In addition to focusing on customer satisfaction, the brand offers excellent customer service. Bewakoof business model offers hassle-free returns and exchanges, prompt resolution of queries and complaints, and regular customer communication through emails and notifications.
-
Data-Driven Decision-Making
Bewakoof utilizes data analytics to gain insights into customer preferences, buying patterns, and market trends. This data-driven approach helps them optimize inventory management, pricing strategies, and marketing campaigns for better business outcomes.
-
Continuous Innovation
Bewakoof continuously explores new opportunities and trends to expand its product portfolio. They regularly introduce new categories, styles, and designs to cater to evolving customer preferences and stay ahead in the competitive e-commerce landscape.
-
Scaling Operations
As Bewakoof expands its customer base and product offerings, they continuously invest in scaling its operations. It includes increasing their warehouse and logistics infrastructure, optimizing their supply chain, and streamlining their backend processes to ensure efficient order fulfillment and delivery.
-
Offline Presence
While primarily an online brand, Bewakoof business model has also ventured into offline retail by setting up physical stores in select cities. These stores serve as experience centers where customers can try out products and make purchases, further complementing their online presence.
Bewakoof Revenue Model: Online Shopping App
The revenue model of Bewakoof app development, an Indian online shopping app, can be summarized as follows in bullet points:
-
E-commerce Platform:
Bewakoof operates as an online shopping platform, facilitating the purchase of clothing and accessories through its mobile app.
-
Product Sales:
The primary revenue for Bewakoof comes from the sale of products offered on their platform. It includes various categories such as t-shirts, shirts, dresses, joggers, shorts, footwear, bags, and mobile accessories.
-
Pricing Strategy:
Bewakoof offers affordable and competitive prices to attract a wide customer base. They optimize their production costs and supply chain to maintain reasonable pricing while ensuring product quality.
-
Limited Edition Collections:
Bewakoof debuts limited edition collections and joins forces with well-known franchises or companies. Customers feel pressured by these unique offers, which boosts sales and revenue during the predetermined period.
-
Seasonal Sales And Promotions:
The online shopping app development leverages seasonal sales and promotional campaigns to drive customer engagement and boost revenue. They offer discounts, bundle deals, and special promotions during festivals, holidays, and clearance sales.
-
In-App Advertisements:
Bewakoof generates revenue by partnering with brands and displaying relevant advertisements within their mobile app. It provides an additional income stream while offering brands a targeted platform to reach their desired audience.
-
Affiliate Marketing:
Bewakoof earns commission through affiliate marketing, promoting products from other brands or e-commerce platforms, and earning a percentage of the sales generated through their referral links.
-
Sponsored Content:
The platform collaborates with influencers and content creators to feature sponsored content, such as product reviews, styling tips, and brand collaborations. These partnerships generate revenue through sponsored posts and brand partnerships.
-
Subscription Model:
Bewakoof online shopping platform offers a subscription-based loyalty program called "Bewakoof Insiders" that provides exclusive benefits to members, such as early access to sales, special discounts, and free shipping. The subscription fees contribute to the revenue stream.
-
Data Monetization:
Customers' surfing habits, past purchases, and demographic data are all collected by Bewakoof. They anonymize and aggregate this data to derive insights and trends, which can then be shared with strategic partners or commercialised through market research.
-
Collaborations With Influencers:
Bewakoof works with celebrities and social media influencers to develop unique collections and market their goods. These partnerships enhance sales, raise consumer interaction, and promote brand exposure, all of which help to bring in money. If you want to create an app like Bewakoof, then it is time to hire online shopping app development services.
-
Offline Retail Presence:
While primarily an online platform, Bewakoof has ventured into offline retail by setting up physical stores in select cities. Revenue is generated through in-store sales and the opportunity to provide an omnichannel shopping experience to customers.
-
International Expansion:
Bewakoof aims to expand its presence beyond the Indian market. By targeting international customers through their app and website, they can tap into new revenue streams and diversify their customer base.
-
Strategic Partnerships:
Bewakoof explores strategic partnerships with other brands, franchises, or e-commerce platforms to cross-promote products, share customer bases, and leverage each other's strengths. It is possible for these partnerships to lead to revenue-sharing arrangements or mutually beneficial outcomes.
-
Continuous Innovation And Diversification:
Bewakoof's on demand app development focuses on continuous innovation by introducing new product categories, designs, and features. By diversifying their offerings and adapting to changing market trends, they attract new customers and increase revenue potential.
How Can Dev Tevchnosys Help You In Building App Like Bewakoof?
Dev Tevchnosys is a leading online shopping app development company that can assist in building an app like Bewakoof by providing comprehensive app development services. With our dedicated developers expertise, we can design and develop a user-friendly interface that mirrors Bewakoof's functionality and features. Dev Tevchnosys can implement secure payment gateways, seamless product browsing, personalized recommendations, and smooth checkout processes.
We can integrate advanced technologies such as artificial intelligence and machine learning to enhance user experience and optimize the app's performance. Dev Tevchnosys can ensure timely delivery, rigorous quality assurance, and ongoing technical support, enabling businesses to create a successful app like Bewakoof.
