Premiere E-apparel Store Yellowfashion.in Forays Into Sri Lanka
Yellowfashion.in, one of India's leading curated online women ethnic wear destinations, today announced its successful foray into Sri Lanka. The profitable venture, well-known for its selection of the finest sarees from across India, is betting on the fast growing Internet user base (6 million as per ITU) and cultural similarities in clothing preference. The venture estimates 15% of its revenues in 2016-17 to come from Sri Lankan market and cumulatively over the next 3 years, the Sri Lankan market to contribute Rs. 15 crore. Yellowfashion.in has signed up DTDC as the fulfilment partner to ensure timely delivery to its Sri Lankan customers. It has put in place an international payment gateway for a seamless customer experience. For any Sri Lankan customer, the current estimated time of delivery is 3-6 days.
Speaking about the Sri Lankan foray, Darshan Patodi, Co-founder, Yellowfashion.in said, "Our in-depth market research revealed that the country, besides witnessing a growing Internet user base, is also very similar in nature to the Indian market when it comes to women ethnic wear choices. Sri Lankan economy has since bounced back, it is geographically proximate and the partnership with DTDC gives us the logistical support required to ensure or track record of happy customers, which is retained in the new market as well. We look forward to the foray contributing significantly to our growth and profitability in the years ahead."
"What really is exciting about the market is that for a lot of women in Sri Lanka saree is both regular wear and a fashion/lifestyle statement. Their affordability levels are high and they are seeking both design and quality which we are known for. Yellowfashion.in' approach of curating what is available on its online store vibes well with this need. Not to mention it being an untapped market. The initial response is encouraging," added Pallavi Patodi, Co-founder, Yellowfashion.in.
According to Google India study, apparel is the highest contributor after electronics when it comes to e-commerce. As per the study, the frequency of purchasing apparel is 30% higher than any segment making it one of the most stable domains in Indian e-commerce landscape. The apparel itself contributes 34% of the total online purchase.(KPMG India Analysis