Feb 11, 2016
Online womenswear Yellowfashion enters Sri Lanka
Feb 11, 2016
Mumbai-based Yellowfashion.in, one of India's leading curated online women ethnic wear destinations, has announced its successful foray into Sri Lanka. Known for its selection of the finest sarees from across India, the company is betting on the fast growing Internet user base (6 million as per ITU) and cultural similarities in clothing preference.
The venture estimates 15 per cent of its revenues in 2016-17 to come from Sri Lankan market and cumulatively over the next 3 years, the Sri Lankan market to contribute Rs. 15 crore. Yellowfashion.in has signed up logistics company DTDC as the fulfilment partner to ensure timely delivery to its Sri Lankan customers. It has put in place an international payment gateway for a seamless customer experience. For any Sri Lankan customer, the current estimated time of delivery is 3-6 days, the company said in a press release.
Speaking about the Sri Lankan foray, Darshan Patodi, Co-founder, Yellowfashion.in said, "Our in-depth market research revealed that the country, besides witnessing a growing Internet user base, is also very similar in nature to the Indian market when it comes to women’s ethnic wear choices. Sri Lankan economy has since bounced back, it is geographically proximate and the partnership with DTDC gives us the logistical support required to ensure or track record of happy customers, which is retained in the new market as well. We look forward to the foray contributing significantly to our growth and profitability in the years ahead."
According to a Google India study, apparel is the highest contributor after electronics when it comes to e-commerce. According to the study, the frequency of purchasing apparel is 30 per cent higher than any segment making it one of the most stable domains in Indian e-commerce landscape. According to another study by KMPG India, apparel contributes 34 per cent of the total online purchase.
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