Defying pandemic impact, our growth doubled as we rejig operations accordingly

Three men- Dhaval Ahir, Amardeep Jadeja and Piyush Ganatra- and one dream in common- to create a fully homegrown fashion brand and to be more specific, to create the trendiest apparel in town. Thus came the popular brand called: Veirdo. In a span of five years, the products are all over the e-Commerce space - Amazon, Flipkart, Myntra, AJIO, Snapdeal, Limeroad, Udaan and Reliance B2B, one to name a few.

In fact, Veirdo is one of the top selling brands in the men's t-shirts category on Amazon. It is one of the very few manufactures in India who provide 'all over print' t-shirts in cotton fabric, while others print on polyester. Buoyant over the success of its menswear brand, it forayed into women's fashion line, called Juneberry (apparel collection under the brand covers t-shirts, t-shirt dresses, cord sets, jackets & hoodies, in April 2019.

Interestingly, however, Dhaval Ahir, co-founder, Veirdo, thinks that fashion, for both men and women, has become very gender neutral in today's context. It is all about what is trendy and unique, and usually unisex collections are extremely popular. Speaking to Bizz Buzz exclusively, Ahir also explains how the prolonged lockdown came handy to them to double their top-line.

We are currently in the premium and mid segment, and our offerings cater to the modern consumer of today, who desires sleek, affordable, and trendy fashion. Both our menswear brand Veirdo and women's wear brand Juneberry are all about fast fashion and staying ahead of the curve. Modern customer prioritizes comfort and shopping is all about finding the right fit for oneself

By 2024, our online sales are expected to account for 14% of India's total fashion GMV of $133 billion, according to a RedSeer report. In the first year of operations (2016-17), Veirdo recorded sales of Rs1.5 crore, which has seen an increase of 20 times until March 2021. The company closed the last fiscal with a Rs 35-cr turnover, after achieving break-even in 2018

Which segment of the apparel market do your products belong to- premium, mid-segment, mass market?

We are currently in the premium and mid segment, and our offerings cater to the modern consumer of today, who desires sleek, affordable, and trendy fashion. Both our menswear brand Veirdo and women's wear brand Juneberry are all about fast fashion and staying ahead of the curve.

How big would be the overall fashion apparel market in India (with break-ups of men's, women's, kids'?

The total size of the fashion apparel market in India would be around $85 billion. Men's and women's apparel roughly account for about $65 million collectively, with about $20 billion making up the kids wear section. Today the online segment is a huge part of Indian fashion and is the fastest-growing category in the country's apparel and lifestyle retail industry, according to a report by RedSeer, with a CAGR of 32 per cent.

How many brands and sub-brands do you have under Veirdo?

We currently have two sub-brands under Veirdo; namely Veirdo for menswear which we started in 2016, and Juneberry for women's apparel, launched in 2019 after we received phenomenal response for the former.

Which is the fastest moving brand/sub-brand?

While both have been extremely lucrative, and we amassed a turnover of about Rs35 crores in 2020, Veirdo (Menswear) has been around for longer and hence, it has been slightly more in demand owing to the dynamic online men's apparel online market today.

What is the percentage wise break-ups of men's, women's and kids' apparel in your overall portfolio?

The percentage wise break-up for menswear and women's apparel in our portfolio would roughly be 60 per cent and 40 per cent respectively. While we are definitely planning to venture into the kids' segment in the near future, we currently offer only men's and women's apparel.

Is there a significant trend that you are noticing in the fashion apparel market in India recently?

Fashion, for both men and women, has become very gender neutral in today's day and age. It's all about what is trendy and unique, and usually unisex collections are extremely popular. Another trend one notices is that the modern customer definitely prioritizes comfort, and shopping is all about finding the right fit for oneself.

Since you have been solely focussing on online sales right from the beginning, did it come handy to you in the wake of the global pandemic and series of lockdowns?

Yes, it did come in handy as our growth almost doubled amidst the pandemic, and we had a meticulous system in place to execute all our orders perfectly during this time. We improved our operation set up further and were able to maximise profits.

What is the break-up of your sales in tier-I, tier-II and tier-III cities? Which one is growing faster and why?

As of today, we have a stronger presence in Tier-II and Tier-III cities. Whilst the exact break up keeps changing every month, we have witnessed a steady rise in interest among the developing cities since they are growing faster than ever and are eager to adopt the latest trends in the fashion world.

Do you have your own designing and stitching units? How strong are they?

We have four in house designers who ensure we offer the coolest designs that are available online. To support our orders, we also have an in-house stitching unit. We, at Veirdo, are completely self-reliant and have an elaborate set up in place to ensure that we maximise efficiency.

How has been the journey so far? Let's talk about some numbers now…..

Founded in 2016 in Ahmedabad, Veirdo is a fully homegrown fashion brand, which sources (raw materials), dyes, designs, prints, manufactures, and distributes all its apparel in-house.

Veirdo's growth in the last five years mirrors the overall rise of India's fashion ecommerce sector. By 2024, our online sales are expected to account for 14 per cent of India's total fashion GMV of $133 billion, according to a RedSeer report. In the first year of operations (2016-17), Veirdo recorded sales of Rs 1.5 crore, which has seen growth of 20 times until March 2021. The company closed the last fiscal with a Rs 35-crore turnover, after achieving break-even in 2018.

From manufacturing 1,000 pieces of apparel a month, it now clocks over one lakh units. In five years, Veirdo has serviced over 2.5 million customers, 60 per cent of whom place orders every two to three months. By 2023, the startup looks to double the customer base, reach a turnover of Rs 150 crore, and create 700-800 new jobs. With the vision to provide the trendiest apparel in town, Veirdo and Juneberry has quickly become a crowd favorite. Today, Veirdo is one of the trendiest fashion start-ups in the country and is known for its quality, variety, and value for money while they continue creating memorable consumer experiences.