Valyoo Technologies likely to sell BagsKart, JewelsKart & WatchKart, establish stronger focus on LensKart
Delhi-based Valyoo Technologies, which runs a string of vertical e-com sites, is likely to sell three of its products, including BagsKart.com, JewelsKart.com & WatchKart.com, and shift its focus and resources on growing the fourth portal LensKart.com.
"Our goal is not to be the number one bags player. It is to be the number one eye-wear player in India. If there is a good buyer, we will consider it (selling the portals)," Peyush Bansal, co-founder, Valyoo Technologies, told The Economic Times.
As of now, the three portals contribute around 30 per cent of the overall revenue of the company, which basically means that LensKart dominates the other portals in terms of business generated. Bansal estimates that his company will earn revenue of Rs 140 crore in FY 2015. In the last three years, the company claims to have seen 300 per cent increase in its turnover. The current employee strength is 150.
It claims to have established its position at least in the eyewear space. LensKart.com currently offers over 5,000 frames & glasses, and more than 45 types of branded contact lenses. It has also tied-up with leading manufacturers like Ray Ban, Oakley, Tag Heuer, Fastrack, Sprint, Vintage, Johnson & Johnson, Ciba Vision, Bausch & Lomb, and Cooper Vision, etc.
On an average, LensKart ships 1,000 spectacles a day, with the average value ranging between Rs 1,100 and 1,200. As per these numbers, the site alone is doing Rs 3.3 to 3.6 crore in monthly GMV. Over the years, the company has undergone a complete experiential revamp and has introduced a number of features like home eye check-up programme, try before you buy, virtual studio or try on, new lenses in old frames, refer and win, as well as an exchange programme.
The company also has over 15 offline stores in the country as of now, and has been funded by IDG Ventures ($4 million in October 2011) and Ronnie Screwvala's Unilazer Ventures ($10 million in February 2013).
(Edited by Joby Puthuparampil Johnson)