Case study of craftsvilla Start-up.

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About :

Online marketplace models are used by craft makers, designers and retailers from all over India and are linked directly by local craftspeople and designers to global customers. There was a mistake. The company says that more than 25,000 craftsmen and artists market 4,000 items.

  • Established:2011
  • Head Office: Mumbai, Maharashtra, India
  • Revenue:31 crore
  • Founders: Manoj Gupta (CEO), Monica Gupta (COO)
  • URL: craftsvilla.com
  • Products: Apparel, jewelry, shoes, accessories, beauty, and home accessories.

Fundings investors:

  • Rs 6 crore in funding from Singapore-based parent Supera Investments.
  • Supera had also infused Rs 40 crore in Craftsvilla.
  • Craftsvilla received $34 million (Rs 220 crore) in Series C funding led by Sequoia India and Lightspeed Venture Partners in 2015.
  • Sequoia led a Series B round of $19 million (Rs 110 crore) in the company.

Business model:

Online marketplace models are used by craft makers, designers, and retailers from across India and are linked directly by local craftspeople and developers to worldwide clients.

Marketing Strategies:

  • Content marketing
  • Referral marketing
  • Emotional marketing
  • Affiliate marketing
  • Social marketing

Challenges faced by:

  • Packaging the glossary at the distribution
  • Huge transportation costs with very low margins on orders to run
  • Prior distribution date,
  • Keeps reliable backups and is fast and efficient.
  • There is already a very strong competition on the market, which has defined customer criteria to succeed.
  • A good name for the face of the advertisement is Vidya Balan.

Successive factor :

  • Good prices
  • Fast delivery speed
  • Vast selection
  • Convenience experience
  • Good product services

Result:

As a result, craftsvilla has become the largest online seller in the world and sold its product worldwide. While Amazon has already reported total sales of 31 crores on its online retail operation, it is now facing a loss of Rs 27 crore for 2018. Craftsvilla is a leading ethnic store in India and reportedly has 62 stalls across India, founded in 2011 by Manoj and Monica Gupta.