We at YourStory.in caught up with Reema, founder of Qvendo, to know more about their venture. Please find edited excerpts from the conversation below:
Qvendo is an online private shopping club. We bring international trends, must-have brands and boutique labels at discounted prices to Indians. Our private members club provides a hassle-free shopping experience. We handle all customer queries as well as cover 100% insurance. Qvendo also provides an efficient door to door delivery service and a flat shipping fee of 900 Rupees from our German Headquarters to anywhere in India.
Qvendo exclusively focuses on western brands and styles only. In addition to offering well known big brands, our passion is to introduce the edgy European designer labels to the Indian market at great discounted prices. Our members pay less for a product than equivalent Europeans – including duties and shipping!
Oliver and I both always loved the concept of private shopping clubs. At the same time, we both love India and spend a lot of time here. When we tried to shop for cool western outfits in India, we identified the pain-point, its either extremely overpriced or old. Then we thought of launching a private shopping club with western brands for India.
We invested about half a million Euros to get Qvendo rolling.
Oliver is a serial entrepreneur. He founded NET Investor, Germany's first VC Magazine in 1996 and sold it to G&J publishing before starting his own agency with a focus on marketing and events for top fashion brands. After the Qvendo idea was born, he sold his company shares to his partners to solely dedicate his time to Qvendo. I have managed brand fashion and retailers for a large PR agency for the past 8 years as a senior accounts director. Afterwards, I consulted several online portals for Marketing and PR strategies before I founded Qvendo with Oliver.Team
We are 15 now and they are mostly in Germany, since Qvendo is a Germany based company and all operations(mostly sourcing) are in Germany. However, we also have a US and UK sourcing team as well.Funding
Qvendo has now been angel-funded. Our angels are all Germany based with a history in private sale clubs and ecommerce. Right now, we are looking out for an Indian angel investor as well. A VC round is in pipeline and planned for the last quarter 2011.
Please find more their venture here https://www.qvendo.com/