Voonik to become a private label business
The e-commerce platform Voonik notified its sellers that it intends to become a private label-led business, including for all apparel.
Voonik sent an email to its sellers stating that it is in the process of forming a single-brand retail model meaning that all clothing for sale on the site will have “Voonik” brand tags, ET Bureau reported. The business has recently scaled down its own operations and now aims to retail only private labels within the next three to six months.
“For apparel, Voonik will provide the tags and the same have to be used on every apparel product,” the email sent to sellers read, noting that this will also be the case for footwear. Although all products will fall under the Voonik brand, the sellers’ own orders, payments, and shipping will remain unchanged.
“Initially, the idea was to clock 50 percent our sales from private labels by the end of this year and up to 90 percent by 2020,” Voonik’s co-founder Sujayath Ali told ET Bureau about the move. “But, we have already achieved 40 percent and it’s growing rapidly.” Ali explained that the businesses had always intended to move towards private labels but the process had been accelerated.
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