Craftsvilla

2021-06-16T07:00:53Z

45.119.30.160: /* External links */

{{EngvarB|date=September 2016}}
{{Use dmy dates|date=September 2016}}
{{Orphan|date=June 2016}}
{{Infobox website
|name = Craftsvilla
|logo =
|company_type = Private
|url = {{URL|craftsvilla.com}}
|location = [[Mumbai]], [[Maharashtra]], [[India]]
|industry = [[Internet]]
|website_type = [[E-commerce]]<br />([[Online shopping]])
|area_served = [[India]]
|key_people = Manoj Gupta (CEO), Monica Gupta (COO)
|author =
|products = Apparel, jewellery, shoes, accessories, beauty and home accessories
|launch_date = 2011
|language = English
|current_status = Online
|footnotes =
}}

'''Craftsvilla''' is an Indian [[e-commerce]] portal that sells [[ethnic]] apparel,<ref>{{Cite web
| url = http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/ethnic-wear-the-hottest-fashion-trend-this-festive-season/49491290
| title = Ethnic wear the hottest fashion trend this festive season {{!}} ETRetail.com
| last =
| website = ETRetail.com
}}</ref> [[footwear]], [[fashion]] accessories,<ref>{{Cite web
| url = https://www.thesequitur.com/women-and-jewellery-a-flawless-combination-1525252/
| title = Women and Jewellery- A flawless combination {{!}} The Sequitur
| website = The Sequitur
| access-date = 14 May 2016
| archive-url = https://web.archive.org/web/20160603132548/https://www.thesequitur.com/women-and-jewellery-a-flawless-combination-1525252/
| archive-date = 3 June 2016
| url-status = dead
}}</ref> [[beauty]] products, handcrafted home accessories and other ethnic fashion and [[lifestyle (sociology)|lifestyle]] products. The company is headquartered in [[Mumbai]], [[Maharashtra]].<ref>{{Cite web
| url = http://www.huffingtonpost.in/haresh-chawla/indian-ecommerce-misled-b_b_9783440.html
| title = Indian E-Commerce: Misled By Bad Data {{!}} Huffington Post
| last =
| website = Huffington Post
}}</ref><ref>{{Cite web
| url = http://www.iamwire.com/2016/05/build-great-retail-brand-online/135168
| title = How to Build A Great Retail Brand Online {{!}} iamwire
| last =
| website = iamwire
}}</ref>

== Overview ==
Craftsvilla.com uses an [[online marketplace]] model by aggregating [[artisans]], [[designers]] and retailers from all over [[India]] onto a single platform and connects local artisans and designers directly to global customers.<ref>{{Cite web
| url = https://www.theguardian.com/small-business-network/2015/feb/06/how-mobile-ecommerce-changing-fashion-industry
| title = E-commerce is changing the fashion industry – it's time to catch up {{!}} The Guardian
| last =
| website = The Guardian
}}</ref><ref>{{Cite web
| url = https://thenextweb.com/in/2016/02/20/how-indian-e-commerce-will-pan-out/#gref
| title = How Indian e-commerce will pan out {{!}} The Next Web
| last =
| website = The Next Web
}}</ref>

The model focuses on removing middlemen, increasing the livelihood of local artisans and designers, helping them create/promote their [[brand]], and preserve the Indian [[culture]], traditions and values.
The company is pegged at around $300–500 million in size.<ref>{{Cite web
| url = http://timesofindia.indiatimes.com/business/india-business/Ethnic-e-tailer-Craftsvilla-raises-Rs-220-crore/articleshow/49809922.cms
| title = Ethnic e-tailer Craftsvilla raises Rs 220 crore {{!}} The Times of India
| last =
| website = The Times of India
}}</ref><ref>{{Cite web
| url = http://www.business-standard.com/article/pti-stories/craftsvilla-ropes-in-manish-kalra-from-amazon-116020201147_1.html
| title = Craftsvilla ropes in Manish Kalra from Amazon {{!}} Business Standard
| last =
| website = Business Standard
}}</ref>
The startup claims to have over 25,000 artisans and designers selling over 4 million products. At present, Craftsvilla charges a 20% commission on each transaction excluding [[service tax]].<ref>{{Cite web
| url = http://economictimes.indiatimes.com/small-biz/policy-trends/ecommerce-companies-say-gst-will-be-taxing-for-customers/articleshow/52247357.cms
| title = Ecommerce companies say GST will be taxing for customers {{!}} Economic Times
| last =
| website = Economic Times
}}</ref>

== Partners ==
Craftsvilla has tied up with the [[Ministry of Textiles (India)|Ministry of Textiles]], [[Government of India]], for [[e-marketing]] of [[handloom]] products from small weavers. As per this agreement, Craftsvilla has tied up with Weavesmart, an online marketplace that offers handloom weaves from across India.<ref>{{Cite web
| url = http://www.business-standard.com/article/companies/e-commerce-firms-retail-groups-boost-handloom-sales-116042700297_1.html
| title = E-commerce firms, retail groups boost handloom sales {{!}} Business Standard
| last =
| website = Business Standard
}}</ref>

== History ==
The company was [[co-founded]] by Manoj Gupta, a [[venture capitalist]], and Monica Gupta in 2011 with funding from India-based Nexus Venture Partners and US-based Lightspeed Venture Partners. The [[startup company|startup]] was launched with 80 employees and five offices across India. By 2012, the startup completely exhausted the Rs10 crore series-A round of funding, following which it downsized to a 10-member team and continued operations out of a one-room office.

According to an article in [[The Economic Times|Economic Times]], the startup saw a 6% month on month growth in 2013 and 2014.<ref>{{Cite web
| url = http://articles.economictimes.indiatimes.com/2015-12-28/news/69356583_1_50-lakhs-nexus-venture-manoj-gupta
| title = Did all the things a startup shouldn’t do: Craftsvilla co-founder Manoj Gupta {{!}} The Economic Times
| last =
| website = The Economic Times
}}</ref><ref>{{Cite web
| url = http://trak.in/tags/business/2016/05/10/indian-ecommerce-growth-2/
| title = Indian Ecommerce Fastest Growing Market In The World; To Cross $120B By 2020: ASSOCHAM {{!}} Trak.in
| last =
| website = Trak.in
}}</ref><ref>{{Cite web
| url = https://www.entrepreneur.com/article/275146
| title = 25 Ecommerce Conversion Hacks to Make Your Website Profitable {{!}} Entrepreneur
| last =
| website = Entrepreneur
}}</ref><ref>{{Cite web
| url = https://www.searchenginejournal.com/e-commerce-companies-can-eliminate-pogosticking-behavior-maximize-add-cart-conversion-rate/160841/
| title = How E-Commerce Companies Can Eliminate Pogosticking Behavior and Maximize Add-to-Cart Conversion Rate {{!}} Search Engine Journal
| last =
| website = Entrepreneur
}}</ref>
In April 2015, Craftsvilla raised $18 million in a series B round of funding from [[Sequoia Capital]] India, [[Lightspeed Venture Partners]], Nexus Venture Partners, Global Founders Capital and Apoletto. In November, the startup raised another $34 million in series C funding from the same investors.<ref>{{Cite web
| url = http://timesofindia.indiatimes.com/tech/tech-news/E-commerce-boom-Investors-turn-focus-to-profitable-growth/articleshow/51965689.cms
| title = E-commerce boom: Investors turn focus to profitable growth {{!}} The Times of India
| last =
| website = The Times of India
}}</ref> Following this fresh round of investments, the startup claimed to have seen a 10% month on month growth and hired close to 200 people.<ref>{{Cite web
| url = http://www.financialexpress.com/article/fe-columnist/column-e-com-fdi-guidelines-still-a-long-way-to-go/254153/
| title = Foreign investment in ecommerce: New guidelines give clarity but leave room for misuse in name of smart-structuring {{!}} Financial Express
| last =
| website = Financial Express
}}</ref><ref>{{Cite web
| url = http://www.iamwire.com/2016/05/build-great-retail-brand-online/135168
| title = How to Build A Great Retail Brand Online {{!}} iamwire
| last =
| website = iamwire
}}</ref><ref>{{Cite web
| url = https://inc42.com/buzz/funding-galore-91/
| title = Funding Galore: Startup Fundings Of The Week [25 April – 30 April] {{!}} Inc42
| last =
| website = Live Mint
}}</ref><ref>{{Cite web
| url = https://www.forbes.com/sites/ajagrawal/2016/05/05/6-smart-ways-to-use-website-design-to-boost-your-ecommerce-prospects/#20685f9a8f53
| title = 6 Smart Ways To Use Website Design To Boost Your eCommerce Prospects {{!}} Forbes
| last =
| website = Forbes
}}</ref><ref>{{Cite web
| url = http://www.zdnet.com/article/moment-of-reckoning-for-indian-ecommerce-as-valuations-plummet/
| title = Moment of reckoning for Indian ecommerce as valuations plummet {{!}} ZDNet
| last =
| website = ZDNet
}}</ref><ref>{{Cite web
| url = http://retail.economictimes.indiatimes.com/re-tales/fdi-in-e-commerce-need-clarity-on-the-path-ahead/1476
| title = FDI in e-commerce: Need clarity on the path ahead {{!}} ETRetail.com
| last =
| website = ETRetail.com
}}</ref> In December 2016, Craftsvilla launched a women's ethnic wear brand ‘Avanya’.<ref>{{Cite news|url=https://fashionunited.in/news/retail/avanya-a-new-ethnic-brand-launched-by-craftsvilla/2016122914612|title=Avanya a new ethnic brand launched by Craftsvilla|last=Kumar|first=Meenakshi|access-date=2017-10-31|language=en-gb}}</ref> In April 2017, Craftsvilla launched its third in-house brand Anuswara in Bengaluru.<ref>{{Cite web|url=http://www.newskarnataka.com/health-lifestyle/craftsvilla-launches-its-in-house-brand-anuswara-in-bangalore|title=Craftsvilla launches its in-house brand ‘Anuswara’ in Bangalore|last=messages.meta_author|website=News karnataka|language=en|access-date=2017-10-12}}</ref><ref>{{Cite news|url=https://www.femina.in/fashion/trends/summer-fashion-from-craftsvilla-anuswara-45022.html|title=5 summer fashion ideas from Craftsvilla's Anuswara|work=femina.in|access-date=2017-10-12|language=en}}</ref>

== Acquisitions ==

In February 2016, Craftsvilla acquired on-demand shipping service provider startup Sendd for about $5 million, to strengthen and streamline its [[logistics]] capabilities. Mumbai-based Sendd was founded by IIT Bombay Alumni ( Nav Agrawal and two others) in April 2015. The company is backed by Kae Capital, and after acquisition the firm will get an [[equity (finance)|equity]] in Craftsvilla.<ref>{{Cite web
| url = http://www.thehindubusinessline.com/info-tech/why-offline-retailers-acquire-ecommerce-companies/article8591264.ece
| title = Why offline retailers acquire e-commerce companies {{!}} Business Line
| last =
| website = Business Line
}}</ref>

Sendd had its services in [[Mumbai]] and was enabling over 1,500 orders a day with average ticket size being INR 160, before getting acquired. The team at Sendd has created a virtual logistics platform, using which any e-commerce company can send its parcels using a number of available courier partners. Apart from Craftsvilla, it has now 10 other clients.<ref>{{Cite web
| url = http://tech.economictimes.indiatimes.com/news/startups/craftsvilla-acquires-virtual-logistics-startup-sendd-values-company-at-5m/50814972
| title = Craftsvilla acquires virtual logistics startup Sendd, values company at $5M {{!}} ETtech
| last =
| website = ETtech
}}</ref>

Later in February, Craftsvilla acquired PlaceofOrigin, a marketplace for ethnic foods.<ref>{{Cite web
| url = http://www.iamwire.com/2016/02/cravstvilla-acquires-placeoforigin/132963
| title = Craftsvilla Acquires PlaceOfOrigin to Strengthen its Foothold in the Ethnic Market {{!}} iamwire
| last =
| website = iamwire
}}</ref>
The startup, founded by two ex-bankers Sudarsan Metla and Ashish Nichani in 2014, brings together food producers of Indian foods and local [[specialty foods]]. In April 2016, the startup acquired women's clothes rental platform F2SO4 in an all-stock deal.
<ref>{{Cite web
| url = http://www.dealstreetasia.com/stories/39039-39039/
| title = India Dealbook: Wipro Ventures invests in Vectra Networks, Craftsvilla buys F2SO4, Shapoor Mistry firm buys stake in STC Power {{!}} Deal street Asia
| last =
| website = Deal street Asia
}}</ref><ref>{{Cite web
| url = http://www.iamwire.com/2016/05/influence-scope-ecommerce-tier-ii-tier-iii-cities/135458
| title = Influence and Scope of eCommerce in Tier II and Tier III Cities {{!}} iamwire
| last =
| website = iamwire
}}</ref>

== Marketing ==

In 2015, Craftsvilla celebrated World Ethnic Day on June 19. It brought in [[Bollywood]] actress [[Vidya Balan]] as the face of the campaign.<ref>{{Cite web
| url = http://timesofindia.indiatimes.com/entertainment/hindi/bollywood/news/Vidya-Balan-voices-her-support-for-World-Ethnic-Day/articleshow/47719817.cms
| title = Vidya Balan voices her support for World Ethnic Day {{!}} The Times of India
| last =
| website = The Times of India
}}</ref>
In the same year, Craftsvilla launched Miss Ethnic Contest to promote ethnic wear among [[women]]. Bollywood actress [[Kareena Kapoor]] was the face of this campaign.<ref>{{Cite web
| url = http://www.vogue.in/content/22-times-bollywood-took-indian-ethnic-cannes/#2003-aishwarya-rai-bachchan
| title = 22 times Bollywood took Indian ethnic to Canne {{!}} Vogue
| last =
| website = Vogue
}}</ref><ref>{{Cite web
| url = http://timesofindia.indiatimes.com/nri/us-canada-news/Indian-American-creates-doll-to-reflect-ethnic-diversity/articleshow/51570447.cms
| title = Indian-American creates doll to reflect ethnic diversity {{!}} The Times of India
| last =
| website = The Times of India
}}</ref><ref>{{Cite web
| url = http://www.iamwire.com/2015/09/ethic-indian-ecommerce-scope-global-retail/123411
| title = Can Indian Ethnic eTailers Scale Up Globally? {{!}} iamwire
| last =
| website = iamwire
}}</ref>

== See also ==
* [[Online shopping]]
* [[Ecommerce in India]]

==References==
{{Reflist|30em}}

==External links==
* {{official|https://www.craftsvilla.com/}}
{{Portal bar|Internet|Companies|India}}


[[Category:Indian companies established in 2011]]
[[Category:Companies based in Mumbai]]
[[Category:Online clothing retailers of India]]
[[Category:Handicrafts]]
[[Category:2011 establishments in Maharashtra]]
[[Category:Retail companies established in 2011]]

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