In India, online shopping is gradually replacing the traditional form of marketing. Factors like unavailability of time, lucrative deals and offers and multiple payment options are contributing to the ever changing trend. The concept of online marketing or what you may call virtual stores is not only limited to specific product categories, but also includes the likes of home décor, designer luxuries, books, shoes and even grocery. Even though the online shopping market in India is still at a nascent stage, its prospects are certainly bright for the next few years. One company that has been doing well in this space is Yebhi.com, which is widely considered as one of the leading players in the lifestyle e-commerce space in India.
The journey towards excellence
Incepted in the year 2009 as BigShoeBazaar.com, focusing on the footwear segment, the website went live in 2010. Thereafter, it has grown by leaps and bounds to become the fastest growing company in the lifestyle category in India. The enormous success that BigShoeBazaar.com witnessed when it first forayed into the footwear category inspired the company to expand its business into other categories like garments, accessories, bags, jewellery and mobile phones. As part of its elaborate expansion plan, a separate brand Yebhi.com was created and introduced to market all the other lifestyle categories of the company’s business. Today, Yebhi.com has a registered user base of approximately 1.5 million people, out of which about half a million have actually transacted through the website.
One exclusive feature of Yebhi.com is the ‘Buy First and Sell Later’ option, which ensures that the latest and high quality product offerings are delivered to the customers. The company’s standardised quality products have also been enhancing the credibility of the Indian e-commerce eco-system. Another unique feature of Yebhi.com is that it provides the consumer the option of trying and buying. This means that the shoppers can actually try the apparels that they buy from the web portal and return them if not satisfied, after it is delivered to them.
In 2011, N. R. Narayana Murthy’s Catamaran Ventures and Nexus Venture Partners invested INR 40 crore in Yebhi.com, providing it with some much needed incentive for business expansion. The website has also been revamped recently along with a new logo.
The hardwork and unmatched enthusiasm of Mr. Manmohan Agarwal, Co-Founder and CEO, Yebhi.com, has been the driving force behind the growth of the company. Having attained his CA degree from the Institute of Chartered Accountants of India, Mr. Manmohan Agarwal worked for Xerox Modicorp Ltd, Onicra Credit Rating Agency of India Limited and Vishal Retail Limited before setting up Yebhi.com along with three other partners, Mr. Nitin Agarwal, Mr. Rajul Jain and Mr. Danish Ahmed.
Awards and recognitions
The contribution of Yebhi.com towards the e-commerce domain has been recognised through multiple awards and recognitions. The portal received the prestigious Online Retail Marketing Campaign of the Year and Innovative Retail Concept of the Year Award in Asia Retail Congress 2013. Yebhi also received awards for Excellence in Operating Efficiency during the ET Retail Awards 2013. Recognitions have also come from other quarters like Asia Retail Leadership Awards 2012, Indian eRetail Congress 2012, Young Turks Awards 2012, etc.