From actuality a discounted affluence website to acceptable an absolute aperture in agreement of the cast mix, categories, archive depth, and all-embracing arcade experience, Elitify.com is afterlight its product ambit to accomplish affluence attainable in India. CEO Ritesh Srivastava in a chat with Moneycontrol speaks about the Indian bazaar and its appetence for luxury.
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Q. Discounts accept been one of the key incentives of arcade online. If you are affective abroad from it, how to do plan to bazaar and position your products?
A. One has to accept affluence is never on discount. It is about the purpose, amount and amusement of possessing a product. It is not accessible for a banker to accord discounts on assertive products. Take Louis Vuitton for example, they are accepted to bake their commodity rather than offer them on discounts. We are affective abroad from that abundant discounted archetypal to actualize a affluence destination by absorption on sophisticated, adopted and curated commodity from appearance capitals beyond the world.
Internationally, we are entering a acceptable retail period. With July 4 about the corner, which will be followed by Thanksgiving, best brands will be on discount. We will absolutely canyon on those discounts to buyers, but not assignment on the heavily discounted archetypal annular the year model.
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Q. Tell us about the brands you advertise on your platform. Any new names you are planning to add?
A. We already accept brands like Ralph Lauren, Hollister, Urban Outfitters, J. Crew, Under Armour, Armani Exchange, Michael Kors, Guess, Coach etc on board. This year we plan to acquaint few India absolute all-around brands like Banana Republic, Express Clothing, Lucky Brand, Loft, New York and Company, White House Black Bazaar amid others. We accept a brace of brands abnormally adorableness brands from Israel that will admission in India through us.
Q. When barter buy these affluence articles what is the exceptional they pay?
A. By advantage of GST, custom duties and shipping costs, the amount of a artefact goes up. If one goes to any affluence brand’s armpit and orders something, they will be billed for vat, aircraft and the amount would access two-fold. Affairs from us includes agnate factors in agreement of pricing.
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Q. How do you plan to accord with affected products?
A. The best constant to adjudicator a artefact is to see it. Globally the affected archetypal business may assignment on abundant discount. Whenever you see a 50%, 60% and sometimes up to 70% discount, you should apperceive the artefact could be fake. We accept gotten rid of all these discounts and one of our cardinal pitches is aggregate we sell, we get anon from all-around stores.
Q. Which cities in India accept the best buyers and what is their boilerplate spend?
A. About 60%-65% of our audience appear from metros. Delhi NCR ranks aboriginal and Mumbai and Pune are abutting second. There is additionally Bangalore and Kolkata followed by Tier II cities like Lucknow, Kanpur, Agra, Chandigarh, Kochi, Bhopal, Ahmedabad, Baroda and Trivandrum etc. The boilerplate adjustment amount is amid Rs 9,000 to Rs 10,000.
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Q. What are your fastest affairs brands?
A. Our clandestine characterization Knight and Bond sells well and afar from them, Coach, Michael Kors, Ralph Lauren, Hollister, Armani Exchange and Diesel are our top sellers. The North American accouterment cast True Religion is additionally acrimonious up.
Q. Define the Indian consumer’s appetence for luxury.
A. We are in top three communities affairs affluence afterwards Americans and Chinese. Indian affluence buyers accept three ample ambit — the neo affluent who are added into affected and those who like the artefact because they accept in the product. There is additionally the connoisseur, who buy any new barrage from their favourite cast because they accept to accept it in their collection.
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