Pune-based Virgo Cluster Lifestyle Products and Services has launched a fashion ecommerce portal Shopotox. It is an online portal where consumers can gain access to the finest, high-end luxury products and services.
Shopotox is a subsidiary of Paras Power and Coal Benefication Ltd. The move aims to build a family of the world’s best fashion brands offering captivating customers experiences that can drive long-term loyalty.
As mentioned by the company in an official statement, “We believe that ecommerce is one of the most important facets of the online medium which has boomed greatly in recent times. It is ideal for niche products and could generate viable volumes by getting far more customers than by running an actual shop and hence ‘Shopotox’ came into being.”
The founders Jimmy Kaul and Prashant Jain, being fashion enthusiasts themselves, further want to build a platform for the budding designers and artisans around, who do not have a global platform to showcase their work.
Shopotox has a 12 member team and currently offers around 15,000 products across eight categories which includes women, wedding, men, gifting, kids, designers, home, and beauty. The target audience lies in the age group of 18 to 50 years and includes students, young couples, families, corporate executives and more.
Launched 10 months back, Shoptobox has a daily footfall of around 600 visitors, with a conversion ratio of 1.5%. The portal has 150 registered users, with major traction coming from Bengaluru, Mumbai, Kolkata, Pune, and Delhi. Also, it claims to have a vendor strength of 150 on its platform.
The startup has been bootstrapped so far and is looking forward to raise funds to scale further.
In the short-term, the team wants to align with different NGOs and donate a certain amount behind every sale towards charity, helping underprivileged kids and old age homes. There are plans to tab hidden gems across the country, skilled in traditional art such as pashmina makers in Kashmir, Kanjeevaram from the south and so on.
Also, they will soon cross international borders and will be collaborating with international handicraft artisans, labels, and various budding designers.
According to a report by industry body CII and KPMG, the online retail spending in India is expected to reach $16 Bn by 2018, with online shoppers rising to 128 Mn. This figure is a good reason for the emergence of a plethora of ecommerce ventures, despite being an already crowded sector. The only quest is to offer a unique, personalised, and more connected experience to the users. It will be interesting to see how Shopotox will play out this battle to reach its pinnacle.
[This article is powered by Virgo Cluster Lifestyle Products and Services]