Allschoolstuff claims to clock GMV of Rs 1.5Cr per month; looks to raise funds
Delhi-based e-shop for school and student supplies Allschoolstuff.com has grown its traction by around ten times, according to its founder and CEO Manoj Chandra said. The site is doing around 500 orders a day currently, up from 50 orders a day in March 2012. The average order value is Rs 1,000.
"We are seeing a double digit month-on-month growth for the past few months and are adding about 5,000-10,000 new customers monthly," Chandra told Techcircle.in. Founded in November 2011, Allschoolstuff claims to be providing a 360 degree solution for parents of school going children. The categories range from uniforms and shoes, stationary, books, early learning books, gifts, kids' room decoratives and more.
"We have a very different proposition from the other babycare websites. We don't deal in kids' apparel and lifestyle category since that is completely different play. The area where we operate in is a much larger target audience since its need-based shopping," Chandra said on the value proposition of Allschoolstuff.
The etailer raised a little less than $1 million from Delhi-based Angels Investors Consortium (AIC) and some private investors last year and is now looking to raise another round of up to $5 million soon. "We have been seeing decent revenues and didn't require capital till a while back. We are looking to close our next round by the end of this quarter," Chandra added. He also said that the company hopes to hit 1,000 orders a day in a couple of months now. The firm operates its own warehouse and supply chain system and also has tie-ups with several logistics partners for deliveries.
Interestingly, Allschoolstuff doesn't offer cash on delivery (COD) facility. In a market where COD accounts for the highest number of orders for almost all e-tailers, this startup is managing without having that facility and claims to have 30-40 percent repeat buyers.
Is it the category it operates in or the customer service that makes Allschoolstuff click? Share your views with us.
(Edited by Prem Udayabhanu)