Vellvette.com, a Mumbai-based subscription commerce startup has secured under $500K funding from early stage investor India Quotient and angel investors, Nitin Agarwal and Siddharth Ladsariya.
Vellvette.com, a Mumbai-based subscription commerce startup has secured under $500K funding from early stage investor India Quotient and angel investors, Nitin Agarwal and Siddharth Ladsariya. Vellvette sends customized beauty boxes featuring samples from 3-4 niche brands like Elizabeth Arden, Clarins, Shiseido, LUSH every month for a subscription fee of INR 399 per month. Customers try these samples and buy the full size versions of products they like from Vellvette's online store at a discount.
Vellvette was launched in July 2012 by IIM Ahmedabad alumni, Vineeta Singh and Kaushik Mukherjee, who have both been entrepreneurs in the past. Vineeta says, "Most sales assistants get bonuses for shoving products worth thousands down our throat without even understanding our beauty needs. Vellvette is a trusted community for discovery, education, trial and shopping."
Although Vellvette is the largest online subscription commerce company in India, there are many large players running successful sub-com businesses in USA and Europe, including $12 million funded Birchbox and Rocket Internet's Glossybox. There have been multiple attempts to run this model in India, including one by Glossybox. Kaushik says, "We started with 200 boxes in September and the demand grew so rapidly that we had to waitlist more than 70 per cent of our customers till last month. We currently ship 2000 boxes and will grow to 10,000 before the year ends. We will use the funding to invest in better technology and to scale our operations faster."