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The young ecommerce startup that makes a profit out of every sale

Their saris sell in the range of $105 and $1,500, reports Tech in Asia

Paloma Ganguly | Tech in Asia 

weave, saree, weaving, garments, clothes
Photo: Shutterstock

In the autumn of 2015, master Shamim Ansari* was on the verge of quitting his ancestral profession. In their tiny home in Varanasi town, he and his brothers had forever seen their father bent over the loom, churning out lustrous Banarasi silk It was a skill Shamim loved. But he was not earning enough.

“His brothers had already left – one was driving a cycle-rickshaw and another was working at a shop in Bangalore, folding all day. This in a family with eight looms,” says Nishant Malhotra, a financial services expert who had come to Varanasi looking for weavers.

At that time, Nishant was exploring the possibility of his own start-up.

Today he runs WeaverStory, which sells handloom online to clients across 20 countries. With an average transaction value of $300, it has a following of 130,000.

The young, bootstrapped is already breaking even. “We make a on every sale,” Nishant tells Tech in Asia.

Their sell in the range of $105 and $1,500. “I doubt if you can get authentic handloom from a branded outlet for less than this,” he says.

The young ecommerce startup that makes a profit out of every sale
The Banarasi, with its delicate warp and weft, and intricate golden thread embroidery, is considered a must-have for every bride in much of India. But the industry has fallen upon dark days, primarily due to intense competition from the power loom, which churns out cheaper versions by the dozen.

Market trends indicated a lot of interest in apparel. By 2020, fashion and lifestyle are set to overtake consumer electronics as the largest e-tail category.

*Name changed to protect privacy.


This is an excerpt from an article published on TechInAsia. You can read the full story here

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The young ecommerce startup that makes a profit out of every sale

Their saris sell in the range of $105 and $1,500, reports Tech in Asia

Their saris sell in the range of $105 and $1,500, reports Tech in Asia
In the autumn of 2015, master Shamim Ansari* was on the verge of quitting his ancestral profession. In their tiny home in Varanasi town, he and his brothers had forever seen their father bent over the loom, churning out lustrous Banarasi silk It was a skill Shamim loved. But he was not earning enough.

“His brothers had already left – one was driving a cycle-rickshaw and another was working at a shop in Bangalore, folding all day. This in a family with eight looms,” says Nishant Malhotra, a financial services expert who had come to Varanasi looking for weavers.

At that time, Nishant was exploring the possibility of his own start-up.

Today he runs WeaverStory, which sells handloom online to clients across 20 countries. With an average transaction value of $300, it has a following of 130,000.

The young, bootstrapped is already breaking even. “We make a on every sale,” Nishant tells Tech in Asia.

Their sell in the range of $105 and $1,500. “I doubt if you can get authentic handloom from a branded outlet for less than this,” he says.

The young ecommerce startup that makes a profit out of every sale
The Banarasi, with its delicate warp and weft, and intricate golden thread embroidery, is considered a must-have for every bride in much of India. But the industry has fallen upon dark days, primarily due to intense competition from the power loom, which churns out cheaper versions by the dozen.

Market trends indicated a lot of interest in apparel. By 2020, fashion and lifestyle are set to overtake consumer electronics as the largest e-tail category.

*Name changed to protect privacy.


This is an excerpt from an article published on TechInAsia. You can read the full story here

image
Business Standard
177 22

The young ecommerce startup that makes a profit out of every sale

Their saris sell in the range of $105 and $1,500, reports Tech in Asia

In the autumn of 2015, master Shamim Ansari* was on the verge of quitting his ancestral profession. In their tiny home in Varanasi town, he and his brothers had forever seen their father bent over the loom, churning out lustrous Banarasi silk It was a skill Shamim loved. But he was not earning enough.

“His brothers had already left – one was driving a cycle-rickshaw and another was working at a shop in Bangalore, folding all day. This in a family with eight looms,” says Nishant Malhotra, a financial services expert who had come to Varanasi looking for weavers.

At that time, Nishant was exploring the possibility of his own start-up.

Today he runs WeaverStory, which sells handloom online to clients across 20 countries. With an average transaction value of $300, it has a following of 130,000.

The young, bootstrapped is already breaking even. “We make a on every sale,” Nishant tells Tech in Asia.

Their sell in the range of $105 and $1,500. “I doubt if you can get authentic handloom from a branded outlet for less than this,” he says.

The young ecommerce startup that makes a profit out of every sale
The Banarasi, with its delicate warp and weft, and intricate golden thread embroidery, is considered a must-have for every bride in much of India. But the industry has fallen upon dark days, primarily due to intense competition from the power loom, which churns out cheaper versions by the dozen.

Market trends indicated a lot of interest in apparel. By 2020, fashion and lifestyle are set to overtake consumer electronics as the largest e-tail category.

*Name changed to protect privacy.


This is an excerpt from an article published on TechInAsia. You can read the full story here

image
Business Standard
177 22