Introduction
During The Big Billion Days Sale of the e-commerce platform in October 2020, Mokshi, a female ethnic wear brand that retails on Flipkart, dispatched 70,000 orders in six days, thus the brand got earning of Rs 6 crore. They have got 8x more orders on average than what they get on normal days. This was even more than the previous years of The Big Billion Days Sale, where the average increase was 5x, says Mokshi’s creator, Ritesh Kumar Sharma. He had said that their best sales experience yet was the 2020 Big Billion Days Sale. It was much more critical than in previous years, considering it was a tough year for companies.
The ‘Big’ Moment
Although adopting COVID-19 safety protocols as mandated by the government and Flipkart, a 40-member team worked in shifts round-the-clock for 15 days. It is noteworthy that the plans for the sale of The Big Billion Days began five months in advance. They began to manufacture and stock goods that were most wanted by the customers. He describes that Flipkart gave them the insights and data that helped with the planning. 2016 marked Ritesh’s first involvement in The Major Billion Days Auction. It was only a few months after he introduced the Flipkart brand.
In 2017, Ritesh was awarded the ‘Top City Flipstar’ award for his hard work and performance during the festive season and the Big Billion Days Selling to select sellers. It must be noted that, compared to 2019, 1.5X the number of transacting sellers were seen in 2020.
Initial Stage and Continuous growth of the Business
Ritesh was one among the three vendors who had been awarded Jaipur’s ‘Top City Flipstar’ for clocking most businesses. He and his wife founded an ethnic wear company for women called ‘Mokshi’ in 2013. They were unaware of the e-commerce benefits and established an offline business. Ritesh’s company profits crossed Rs 1,75 crore by the end of the first year on Flipkart. The husband and wife pair originally worked out of one-room office space. As the business grew, so did the team size and the office space increased. Now they are having a huge workshop with more than 300 racks and over 100 employees.
The income of Mokshi continued to rise steadily. It hit Rs 9.75 crore in FY 2019-20. The founders were expected to touch Rs 12.5 crore in revenue this financial year. Apart from that The Big Billion Days had left an overall positive impact on the brand’s image. A major shift in the company’s growth was the fact that Ritesh was able to pivot the business model from one where they sourced ethnic wear to production on their own. The brand now has its own production unit with 100+ machines and nearly 100 people who work with them as said previously.
The credit goes to FlipKart
Ritesh credits Flipkart for helping him build Mokshi on the e-commerce marketplace. The founder acknowledged the overall credit to Flipcart and its The Big Billion Days for the brand’s continuous growth. He says that Flipkart has helped with ad campaigns, product listings, and analyzing customer reviews.
The founder duo saw space for growth amid the rivalry. A small company like ‘Mokshi’ has been able to turn into a brand, something that only e-commerce sites such as Flipkart can do. Today, the founder firmly believes that if an entrepreneur looks for creating a brand, then the way to go is online. One of the reasons why e-commerce platforms such as Flipkart allow small businesses to develop is because of the transparency advantage, Ritesh says. It makes it easier to make decisions and focus on your plan if you are aware of which goods sell more and at what price. Most significantly, unlike in the offline industry, there is no pause in payments where you are obligated to assign at least.
The limitations due to the Pandemic
The seller points out that the pandemic and the limitations due to COVID 19 imposed during the lockdowns came as a rude shock though there were no big setbacks. According to the founders, there was so much confusion when the limits were implemented. They thought the good days had come to an end. However, they were back to running their company on Flipkart when the market reopened in May last year and started to prepare for The Big Billion Days. Orders were collected and The Big Billion Days Sale made up for the shortstop in the business they had earlier that year.
Read: 9 Recommended Home Office Products for your Convenience in Work from Home Option
Also Read: Some Facts You Didn’t Know About Nokia 5.3 | Specifications | Review | Price | Features |
Conclusion
Having developed a profitable ethnic women’s wear brand and a firm grip on brand building and online sales mechanics, Ritesh is now looking to diversify the business and foray into western wear, menswear, and kids.
