Valyoo Tech: Best luxury accessories now just a click away

Peyash Bansal an engineering graduate from McGill University Canada, with a degree from IIM Bangalore, decided to hit his kart to the Indian --- bazaar in 2010. A believer in power of specialisation, Bansal's Valyoo Technologies decided to focus on different segments of the luxury accessories market. He first set his sight on the growing eyewear market. LensKart followed by WatchKart.com, BagsKart.com and JewelsKart.com. His strategy of creating a sharp, distinct specialised brand across different segments seem to be paying off.

"If you look at a product like watches or jewellry. Watches as niche player has succeeded a lot better and jewellers primarily you can go for some artificial jewellery at a horizontal. When it comes to real jewellery that trust factor again kicks in and you want to go to a specialised player. Internally and externally the purpose of your existence should be very clear. Half of the time companies don't know what they exist for, Today I am selling watches, tomorrow I am selling toys, I am not clear and thus my customers are not clear. At least one thing that is clear to us is we are a LensKart or we are a WatchKart and when a customer comes and buys from any of these sites, if they --- WatchKart; you remember I bought it from a watch site called WatchKart, " Bansal said.

Bansal is now sketching out designs for future. Having started with initial investment worth USD 50,000, Valyoo Technologies has seen a ten fold growth over the past 10 months, registering a turnover of a million dollars a month. To fund its expansion plans, Bansal borrowed USD 4 million from IDG Ventures in November 2011. For now the Valyoo team is focused on creating brands, while leaving the manufacturing to private labels.

"Like in bags or even in the eyewear you would see this brand called feelgood which is a very use centric brand, it has been created by us and sells really well for the youth in terms of bags, eyewear watches and jewellery as well. Very colourful collection, targeted toward college goers. In eye wear we have couple of other brands; Titaniuma and Woodpecker and Myra in jewellery," he added.

Latest offering from the Valyoo camp is JewelsKart.com. Launched in February 2012, the portal offers jewellery from brands like Gitanjali, Jewelsalso and also Valyoo's own brand; Silitalia. While brands like Rayban, Sataya Paul and Hidesign are offered across its website, Valyoo Technologies also exclusively e-tails watch brands like Seiko and Suunto. The next big milestone is turning profitable and Bansal hopes he will get there in a year.

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