Indian fashion platform Fynd looks to SE Asia
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Indian fashion eCommerce platform Fynd plans to expand in Southeast Asia from April, which could include the Philippines.
It also plans to expand beyond clothing, footwear and accessories to childrenswear, decor and furnishing.
Fynd is run by Shopsense Technologies, which has among its investors Facebook executive Anand Chandrasekaran, Arvind Sports chief executive Rajiv Mehta and Snapdeal founders Kunal Bahl and Rohit Bansal. It offers same- or next-day delivery in 11 cities in India, and has tied up with about 250 brands. Its platform is both app- and webpage-based.
This month Fynd deployed an omni-channel in-store product, Fynd Store, that lets customers browse all products of a particular brand on screens inside the brand’s physical outlet. If a customer cannot find a product or a size at that outlet, it can be ordered and delivered via Fynd Store.
It is Fynd Store that the company plans to take to international markets.
In-store initially
Founded by Farooq Adam, Sreeraman MG and Harsh Shah, Fynd launched in 2012 as an in-store engagement provider, then branched out to an eCommerce platform before evolving into an omni-channel or online-to-offline retail firm.
“This model would work in the international market, primarily in the areas where the customer is brand conscious and is clear he wants a particular product, whether it be size or colour,” says Shah.
“Many times when customers shop and cannot find products in their size they settle for something that is one level lower in their liking hierarchy. Fynd is trying to solve this problem.”
The company’s strategy for international markets will be the opposite of what it did in India — it will first deploy its omni-channel Fynd Store product before launching its eCommerce Fynd app.
“In India we started with eCommerce then got into omni-channel. The reasoning was that with the retailer, sales is the holy grail. With eCommerce you can immediately show sales. With omni-channel you need to build it up – there’s the training in store and things like that.
“Internationally we’ll start with Fynd Store because we need to develop delivery infrastructure and then get on to Fynd app,” says Shah.
Questions & Answers
Q.Which Southeast Asian country is Fynd specifically considering for its expansion?
Which Southeast Asian country is Fynd specifically considering for its expansion?
Fynd plans to expand in Southeast Asia from April, and this expansion could specifically include the Philippines. The company is initially focusing on international markets for its Fynd Store product.
Q.What product will Fynd introduce first in its new international markets?
What product will Fynd introduce first in its new international markets?
Fynd plans to first deploy its omni-channel in-store product, Fynd Store, in international markets. The company will then launch its eCommerce app once the necessary delivery infrastructure is developed.
Q.Who are some of the notable investors in Fynd’s parent company, Shopsense Technologies?
Who are some of the notable investors in Fynd’s parent company, Shopsense Technologies?
Shopsense Technologies, which runs Fynd, has several notable investors. These include Facebook executive Anand Chandrasekaran, Arvind Sports chief executive Rajiv Mehta, and Snapdeal founders Kunal Bahl and Rohit Bansal.
Q.What is the primary problem Fynd aims to solve for customers through its omni-channel model?
What is the primary problem Fynd aims to solve for customers through its omni-channel model?
Fynd aims to solve the problem where customers cannot find a product or size they want in a physical store. The Fynd Store allows them to order the exact item and avoid settling for something less preferred.