Reliance's Big Acquisition, CRED's Revenue Surge, and Expert Insights!
Reliance's Big Acquisition, CRED's Revenue Surge, and Expert Insights!
In the sixteenth edition, discover acquisitions by Reliance Brands to impressive revenue growth at CRED, and expert insights from founder of Atomberg, we've got it all covered. Let's dive in!
Hello and welcome to the world of D2C Insider, your weekly dose of insights, news, and trends from the direct-to-consumer space in India and beyond. In D2C Insider Digest’s sixteenth edition you'll see:
Reliance Brands Acquires Majority Stake in Superdry India
Reliance Brands, the powerhouse behind India's top fashion brands secures rights to Superdry, the UK's iconic clothing retailer in India, Sri Lanka, and Bangladesh, valued at £40 million. Superdry receives £30.4 million in cash proceeds. Discover how this partnership will reshape Indian fashion, introducing new sourcing channels and India-specific products. CEO Julian Dunkerton is optimistic about Superdry's future in India.
Mensa Brands raises $40 million in debt funding from EvolutionX
Mensa Brands, a Bengaluru-based e-commerce company, has raised $40 million in debt funding from EvolutionX Debt Capital. This will support their brand-building efforts. They've raised $200 million in equity before, with investors like Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus Ventures, and Tiger Global Management. Founded in 2021 by Ananth Narayanan, Mensa Brands partners with digital-first brands, currently owning over 20 brands. In a competitive e-commerce space, this funding highlights their growth potential.
CRED's revenue jumps 3.5x to INR 1,484 crore in FY23
CRED, a fintech startup, reported a 3.5x jump in revenue to INR 1,484 crore in FY23, up from INR 422 crore in FY22. Despite wider losses at INR 1,347 crore, excluding ESOP costs, losses reduced by 10% to INR 1,047 crore. This growth was due to increased users and a higher total payment value (TPV) of INR 4.4 lakh crore in FY23. CRED expanded its services and merchant network, with over 20,000 merchants on its platform. Its diverse financial offerings and appeal to creditworthy users position it for future growth.
Atomberg Founder's Guide to Successful Brand-Agency Partnerships
This week, we feature Arindam Paul is the Chief Business Officer at Atomberg, a prominent digital-first consumer brand in India. With over eight years of dedicated service, he has been instrumental in scaling the company's annual revenue from zero to an impressive Rs 1000 crores. Arindam possesses extensive hands-on experience in various stages of digital-first startup growth, having successfully navigated and led initiatives from launch to expansion.
His strong academic background is reflected in his consistently high rankings, both during his graduation from NIT Surat and his postgraduate studies at IIM Indore. These achievements underscore his commitment to putting in consistent effort and dedication.
Below is the summary from his post:
In the world of digital-first brands and performance marketing agencies, successful partnerships require a joint effort from both sides. Here are key steps for brands to enhance their chances of success:
Understand Unit Economics and Channel Fit: Brands should first test advertising channels like search, paid social, and display to gauge their suitability and unit economics. It's crucial to realize that not all products or categories are profitable through paid channels. Testing beforehand helps identify whether a channel fits the brand's objectives.
Establish Clear Goals: Define clear, consistent goals and KPIs that don't change frequently. Testing ads independently can provide realistic ROAS (Return on Ad Spend) expectations. Brands should commit to one overarching goal, whether it's aggressive growth at any cost or achieving maximum growth within specific profitability constraints.
Emphasize Creative Quality: The quality of creatives and landing pages significantly impacts performance campaigns. Many Indian performance marketing agencies lack the capability to consistently produce winning creatives. Brands should consider in-house creative resources or partner with a performance creative agency to address this challenge before substantial media spending.
Robust Hiring and Reference Checks: Regardless of preparations, an agency's success hinges on its technical competence and integrity. Brands should:
a) Conduct Discreet Reference Checks: Contact multiple clients listed in the agency's testimonials and request honest feedback from founders or CMOs.
b) Seek Provided References: Ask for client references and engage in detailed discussions about the agency's impact on their business.
c) Interact with the Team Lead: Ensure direct interaction with the individual responsible for account management, assessing mutual fit, technical competency, and thought process.
These steps create a foundation for productive relationships between brands and performance marketing agencies.
What are your thoughts on this?💯👇
VAHDAM® India Opens Its First Experience Store in New Delhi
This week, we feature VAHDAM® India, a leading direct-to-consumer (D2C) tea brand that offers a wide range of high-quality teas and tea products. Founded in 2015 by Bala Sarda, a 4th generation tea entrepreneur, VAHDAM® India has quickly become one of the most popular tea brands in the world.
This week, VAHDAM® India opened its first experience store at the iconic Khan Market in New Delhi. The TEA ROOM offers enthusiasts a truly unique & immersive sensorial experience, showcasing a curated selection of India's finest teas, signature blends, tea accessories, exquisite gifts and assortments.
It's a space where locals, tourists, expatriates, and diplomats can savor the essence of Indian tea and take home delightful souvenirs.
The inauguration was graced by Mr. Harsh Vardhan Shringla, Chief Coordinator of the G20 Summit and former Ambassador to the USA, highlighting the government's support for our cultural heritage and entrepreneurial spirit. Visit VAHDAM® India's TEA ROOM to experience 8 years of tea excellence.
We congratulate VAHDAM® India on the opening of its first experience store! We are excited to see this iconic Indian brand continue to grow and share the love of tea with people around the world 👏.
Available job opportunities
Styched, a sustainable fashion and lifestyle D2C brand, has acquired Zymrat, a performance wear D2C brand. This strategic move allows Styched to expand its product range and reach a broader D2C audience. Zymrat, known for its high-quality products and innovative designs, will contribute to Styched's mission of offering customers a comprehensive shopping experience. This acquisition also helps Styched tap into Zymrat's existing customer base and distribution network, benefiting both companies' growth and innovation.
😢 TikTok ends retail business in Indonesia after ban on social media shopping.
😎 Manish Taneja, Co-founder and CEO of Purplle.com, shares insights on the Indian beauty industry, marketing strategies, and building a successful brand.
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🌟 Discover Unique Gifts: Find handpicked gifting options that are sure to delight your loved ones.
📦 Share Your Gift Ideas: Are you a community brand with fantastic festive packages? Share them with the community! Your creativity can shine here.
Join us in celebrating this festive season with joy, love, and meaningful gifts. Explore now at https://d2ci.co/2023-festive-gifts-upload and make your celebrations truly special!
Happy Festive Shopping! 🎊🛍️
Stay tuned for more updates and future events. Let's keep taking your D2C business to new heights
Until then, keep rocking the D2C world! 🚀