Beyoung, a Udaipur-based fashion brand, has partnered with the New Delhi-based e-commerce enabler platform Gokwik.
The collaboration seeks to bolster Beyoung’s digital footprint in India by enhancing the reach of its cash-on-delivery (COD) service, while also tackling the issue of high return-to-origin (RTO) rates.
“Cash on delivery remains a preferred choice for many across India, and with GoKwik’s expertise, we aim to deepen our COD footprints, without worrying about the RTO losses. By utilising their advanced risk intelligence-based solutions, we hope to reach diverse consumer segments, further enhance our gross merchandise value (GMV), and effectively manage challenges related to COD orders,” said Shivam Soni, Founder, Beyoung.
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Since its inception in 2018, Beyoung has generated a revenue of over INR 250 crore. Over the past few years, it has acquired more than 1.5 million customers and successfully fulfilled over 20 lakh orders. Currently, with a gross merchandise value (GMV) of INR 150 crore, the brand aims to achieve a GMV of INR 600 crore in the next three years.
The company recently received funding from the Royal Office of Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan from Abu Dhabi. With this investment, Beyoung plans to enhance its omnichannel presence worldwide with plans to launch over 300 stores globally in the next three years.
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