Comments
Fashion marketplace Voonik on Friday announced the acquisition of styling and personalisation app Dekkoh in a cash-and-equity deal.
Founded by Aditya Chalasani and Varun Mathew, Dekkoh is a fashion-discovery platform that allows users to chat one-on-one with their own personal stylist and buy clothing and accessories that suit them. It connects a community of 200 stylists to consumers seeking fashion advice; it also has a rule-based chatbot technology.
Voonik, which has raised $27 million in funding to date, has been on a rapid expansion mode over the last few months and has acqui-hired Zohraa, Picksilk, Styl, TrialKart and Getsy. Its most recent Series B fund raise of $20 million led by Sequoia Capital was closed in June.
“Voonik is built around personalised fashion, to provide every customer a solution and opportunity to be fashionable every day. Personalisation is what has set us miles ahead of competition. Dekkoh platform is doing the same through an engaged community of stylists, highly data-driven profiling and chatbots. We will use their expertise in further strengthening our personalisation engine,” said Sujayath Ali, co-founder and CEO, Voonik.
New business categoriesWhile the start-up was predominantly focussed on women, it has now launched Mr Voonik enabled by its acqui-hire of Getsy, a personalised fashion platform for men.
“Mr Voonik is seeing great traction and contributes to one-fourth of our revenue today,” Navaneetha Krishnan, co-founder and CTO, told BusinessLine .
Similarly, Vilara, a premium offering from Voonik with an average price point of ₹3,000-4,000 launched in June, now allows the start-up to compete with the likes of Amazon, Myntra, Jabong and Limeroad, said Krishnan.
Founded in 2013, Voonik — which claims to be the leader in the unbranded fashion category with an average price offering of ₹650-700, has recorded an annual GMV (gross merchandise volume) of $100 million.
It has over 12 million registered users with 10 million app downloads. On the supply side, it has over 15 lakh products from 20,000 sellers. The company works on a ‘lean’ marketplace business model where it operates without inventory and fulfilment centres.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.