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2 Candy POP stores in 1 shopping center – Yay or Nay? A while ago, we realized that our Candy POP store in Vilnius #Akropolis (Lithuania) had become too small for our sweet ambitions. After waiting forever for suitable premises and finally getting an offer, we had to decide what to do with the old store. And you know what? We've always had this crazy idea of trying out 2 stores in one mall, and we made up our minds to make it happen. We took a risk and chose to operate both stores simultaneously in the SAME shopping center. To our astonishment, upon the opening of the new Candy POP store, the old one maintained 60% of its previous revenue! The new store quickly established its own customer base, and the total revenue in the shopping center has doubled. 🍭 Firstly, having two stores allowed us to serve a larger customer base, catering to different areas within the shopping center. 🍭 Customers now had more convenient options to satisfy their Candy POP cravings. It's hard to resist taking your favorite candy with you on the way to the cinema. 🍭 Moreover, the presence of two stores actually boosted our brand visibility and drew even more attention from shoppers. Double the stores, double the buzz! By embracing this unconventional approach, we transformed what could have been a challenging situation into a brilliant opportunity. Taking risks and thinking outside the box usually lead to exceptional outcomes. #CandyPOP #Akropolis #Adaptability #Entrepreneurship

Paris-based platform Vestiaire Collective is one of the leading re-sale firms pioneering in circularity businesses (startups) and has paved the way for the emergence of similar business models in the recent years. From November 2022, Vestiaire Collective decided not to allow any more fast fashion items to be bought, sold, or put up for sale on their site. They want to stop people from buying stuff that's made quickly and cheaply. Just recently, the platform announced they won't let brands like Gap, Zara, and Urban Outfitters be sold on their site anymore. It is obvious that Vestiaire Collective is willing to raise awareness to circularity in its market with this creative campaign. However, apart from raising awareness, will it be a real solution to kill or fight reselling on other platforms, or over-consumption? Additionally, on Vestiaire Collective, second hand items are not sold at affordable prices as the platform positions itself as a “luxury second hand platform.” There is a mismatch between its branding strategy and this campaign’s discourse. I wonder about this campaign’s financial and social consequences for the platform, similar businesses, and luxury-fashion market, overall. What do you think about Vestiaire Collective's this decision and its affinity to the platform's branding strategy?

Startify founder eyes Gulf expansion for Indian D2C brands Dubai: Sudhir Syal has promoted Irish band Westlife’s concert in Dubai and sold premium eyewear in the Middle East. He will soon promote corn chips as well as fashion and personal care products in the region. But there’s a big difference this time. Syal, who established BookMyShow and Lenskart in the region as the chief executive officer of their Middle East operations, is now set to facilitate the entry of several other Indian brands in the Gulf under his “go-to-market accelerator” startup Startify. Startify’s objective, says the founder and CEO of the six-month-old startup, is to help launch and scale direct-to-consumer (D2C) Indian brands that are keen to tap into the $250-billion retail market of the UAE and Saudi Arabia. “Lenskart opened my eyes to the fact that Indian brands can succeed in this market… I realized that other companies can benefit from the Lenskart playbook as they scale in the MENA region,” he said. “That’s where Startify came from.” The Middle East is emerging as a new destination for D2C startups that have found a product market fit in India, he says. “This is owing to the higher pricing power here, and the advanced online and retail ecosystem,” said the INSEAD alumnus, as he gears up for his third innings in the region. Syal moved to Dubai in early 2019 to lead the Middle East operations of BookMyShow, the movie and entertainment ticketing platform that counts private equity firm TPG Growth as an investor. Previously, he spearheaded the company’s business in Indonesia over nearly four years as CEO of that market. Highlighting the “pro-business” ecosystem of the UAE, Syal pointed out that it took just 12 months to scale BookMyShow in the Middle East to the level it reached in three and a half years in Indonesia. At BookMyShow Middle East, he built a team of 25, partnered with Coca Cola Arena to become their preferred ticketing partner and a promoter of concerts in the region, including that of Westlife and The 1975. This was before covid-19 disrupted the entertainment business across the globe. In early 2021, Lenskart founder Peyush Bansal hired Syal to launch the popular Indian eyewear brand in the Middle East. “I moved from negotiating with Guns N’ Roses to negotiating with ophthalmologists within a week,” quipped Syal, referring to the American hard rock band. During his two-year stint at Lenskart, the eyewear retailer signed up 13 physical stores across major shopping malls in Dubai, Abu Dhabi and Sharjah, including in the world’s largest, Dubai Mall. The stores that opened during Syal’s stint operated at a gross margin of over 75% and the business is expected to break even by early 2024. Startify, says Syal, intends to work with brands in fashion, beauty, food, and personal care verticals. “We are looking to work with Indian brands that are ₹50-crore plus in revenue,” he said. The startup, which is ...

Startify founder eyes Gulf expansion for Indian D2C brands Dubai: Sudhir Syal has promoted Irish band Westlife’s concert in Dubai and sold premium eyewear in the Middle East. He will soon promote corn chips as well as fashion and personal care products in the region. But there’s a big difference this time. Syal, who established BookMyShow and Lenskart in the region as the chief executive officer of their Middle East operations, is now set to facilitate the entry of several other Indian brands in the Gulf under his “go-to-market accelerator” startup Startify. Startify’s objective, says the founder and CEO of the six-month-old startup, is to help launch and scale direct-to-consumer (D2C) Indian brands that are keen to tap into the $250-billion retail market of the UAE and Saudi Arabia. “Lenskart opened my eyes to the fact that Indian brands can succeed in this market… I realized that other companies can benefit from the Lenskart playbook as they scale in the MENA region,” he said. “That’s where Startify came from.” The Middle East is emerging as a new destination for D2C startups that have found a product market fit in India, he says. “This is owing to the higher pricing power here, and the advanced online and retail ecosystem,” said the INSEAD alumnus, as he gears up for his third innings in the region. Syal moved to Dubai in early 2019 to lead the Middle East operations of BookMyShow, the movie and entertainment ticketing platform that counts private equity firm TPG Growth as an investor. Previously, he spearheaded the company’s business in Indonesia over nearly four years as CEO of that market. Highlighting the “pro-business” ecosystem of the UAE, Syal pointed out that it took just 12 months to scale BookMyShow in the Middle East to the level it reached in three and a half years in Indonesia. At BookMyShow Middle East, he built a team of 25, partnered with Coca Cola Arena to become their preferred ticketing partner and a promoter of concerts in the region, including that of Westlife and The 1975. This was before covid-19 disrupted the entertainment business across the globe. In early 2021, Lenskart founder Peyush Bansal hired Syal to launch the popular Indian eyewear brand in the Middle East. “I moved from negotiating with Guns N’ Roses to negotiating with ophthalmologists within a week,” quipped Syal, referring to the American hard rock band. During his two-year stint at Lenskart, the eyewear retailer signed up 13 physical stores across major shopping malls in Dubai, Abu Dhabi and Sharjah, including in the world’s largest, Dubai Mall. The stores that opened during Syal’s stint operated at a gross margin of over 75% and the business is expected to break even by early 2024. Startify, says Syal, intends to work with brands in fashion, beauty, food, and personal care verticals. “We are looking to work with Indian brands that are ₹50-crore plus in revenue,” he said. The startup, which is ...

PopChill Secures Fresh Investment for Expansion 🌏🛍 In the realm of luxury fashion marketplaces, Taiwan's PopChill 拍拍圈 has recently marked a milestone. Securing an investment of US$1.9 million from prominent investors like ITIC, AVA Angels Fund, 500 Global, Acorn Pacific Ventures, and Darwin Venture, the startup now boasts a total funding of US$5.2 million. Having successfully carved out a niche in Taiwan, where monthly transaction volumes have surpassed US$1 million, PopChill sets its sights on the Hong Kong market. The company's authentication-centered approach stands in contrast to traditional e-commerce platforms and has fostered trust, evidenced by an impressive average order value of US$800. Co-founder Andy Kuo (郭家齊) is optimistic about the expansion, remarking, "Our goal for the Hong Kong branch is to replicate the growth trajectory experienced in Taiwan over the past few months, rapidly establishing supply and demand locally." #Startups #LuxuryFashion Chi Ko https://lnkd.in/gzc-vvqA

Starting with just 400 pieces at a free bazaar, Kapten Batik's founders never dreamed they'd have 7 stores today. They were only after a stable income, but now they're on a mission to transform into a luxury & lifestyle brand. From selling 20 shirts at a free night bazaar to hitting 8-figures in revenue in 2022 with aims to hit RM50 million in 3 years time, on this edition of Open for Business, I explore the rise of Kapten Batik with Co-Founders Farhan Omar and Ekram Faiz. Pulling all their savings together, these engineering students-turned-batik fashion entrepreneurs started this venture in 2017 with RM40,000 in capital with the aim of modernising and reinvigorating batik in Malaysia. From weekend bazaars, Kapten Batik took a big step forward in December 2019 opening its first flagship store in Publika Shopping Gallery. Today it has 7 stores, a warehouse HQ in Puchong, and another 7 consignment boutiques in select resorts and hotels. In case you don’t have the time, here are 5 AI-Generated key takeaways from the interview: 1. Business Development: The business started small, selling at social media and weekend bazaars, eventually opening their first flagship store in Publika Shopping Gallery in December 2019. Today, they have seven stores, a warehouse HQ in Puchong, and seven consignment boutiques in select resorts and hotels. 2. Market Acceptance: The brand quickly gained traction, with their products selling well at bazaars. Their first major validation came from a successful bazaar at Trec KL. This early success gave them the confidence to invest more into the business. 3. Growth and Expansion: Kapten Batik has grown significantly, achieving eight figures in revenue by 2022. They aim for 30% annual growth and plan to expand their physical stores and penetrate international markets like Singapore and London. They also plan to open a store in KLIA to attract tourists. 4. Fundraising Plans: Although Kapten Batik has been self-funded and has taken bank loans, the founders are now considering equity funding for future expansion. They are looking for strategic partners who can provide business expertise and support their growth in regional and international markets. They have started entertaining conversations with potential investors to explore these opportunities. 5. Future Vision: The founders envision Kapten Batik becoming a luxury brand with a strong international presence. They also plan to diversify beyond fashion into areas like cafes and boutique resorts, potentially starting in destinations like Bali. https://lnkd.in/gtQpvvrS

Swedish Digmi raises €0,5 million, aiming to transform salon experiences worldwide Digmi.se, a Småland-based SaaS company revolutionizing the beauty industry for hairdressers, recently completed an oversubscribed funding round at a valuation of €0,5 million with a valuation of €6,7 million (SEK 75 million). The funding was secured from both existing and new investors who have shown great confidence in the company’s national and international expansion. Digmi offers a range of services, including digital plates and unique software, to streamline operations for hairdressers, allowing them to focus on their craft. With the newly raised capital, Digmi plans to fuel its continued strong growth, further develop its services, and expand its presence in new markets. https://lnkd.in/dxi-BRA3 #funding #nordicmade #sweden #beautytech #SaaS #hairdresser #startups #trending

Filipinos (otherwise known as Pinoys) are fashion-crazy, and the world might well join them on their style trip: fashion startup brands like Áraw, HaloHalo, House Of Enchanté and Salaaap! keep cropping up, and the streets of Manila are popping with ideas. Check out the Style of Everyday, Philippines [@styleeverydayph] Instagram account to pick up on unpredictable colors – and lots of great sneakers. Pinoys are into elite designer footwear, so much so one of our snazziest founders has crafted a startup around them that officially launched just last week – that's Owen Cuales and Supafaya, a marketplace for Pinoy 'sneakerheads' to trade shoes with each other. Supported by CrossFund and local accelerator Founders Launchpad (Asean Startup Awards 2023 nominee for the Best Incubator/Accelerator), Supafaya is already breaking even and clicking up multiple additional transactions daily. The demand for collectibles is certainly there, and should be given a boost in the near future: just last year, Manila Sneaker Expo 2022 saw 6K+ attendees poring over immaculate Yeezys and the Air Jordan 4 Manila. The next expo is coming right up at the end of the month – a perfect time for Cuales to light his fire. For a founder who loves boxing and has even won amateur competitions, knowing the right timing is obviously key. This marketplace has dropped at exactly the right moment. Says Cuales in a post on boxing and fighting: "Every moment you rest is space created for the opponent – so be relentless!" We expect nothing less from Supafaya. New frontiers for re-sale and upcycling many more products than clothes are opening around the region: Indonesia's Jagofon allows young Indonesians to access great hardware and spins out longer life cycles. Whether it's for collectors or for daily use, we applaud resourceful ways of bringing new consumers closer to what they want, a phenomenon that's revving up in SEA. #philippines #fashion #startups

Day 7 of building a clothing brand : “Innovate together, thrive together” As a clothing brand gains traction, building a community around it becomes essential. This is a process that demands time and commitment. Patience is needed to build genuine connections with customers. A strong community can provide valuable feedback, help generate hype, and create a culture around your brand, contributing to long term success. For e.g. “Supreme,” a renowned streetwear brand. Supreme has successfully built a global community by employing limited releases, collaborations, and a distinct brand identity. Fans not only purchase their products but also engage in the brand’s culture, sharing experiences on social media and forming a community that goes beyond consumption, contributing significantly to the brand’s success. #brand #startup

We are thrilled to celebrate this monumental achievement with our Virtuall family and esteemed investors. This financial round marks a significant step forward in our mission. We extend our deepest thanks to each of our investors, partners and customers for their belief in our vision and commitment to our growth. 🙏 Together, we are poised to reach new heights. 🚀🚀🚀🚀 #TeamVirtuall #GrowthJourney #ThankYouInvestors