Ivory Tag: A Destination for Fashion Accessories for theContemporary Indian Woman
It is the firm belief of the Ivory Tag team that India needs a brand of its own which fits in the modern fashion scene, fusing and blending Indian ethos and way of life with global influences.
Ivory Tag, a destination for handbags, fashion jewellery and accessories for the contemporary Indian woman was thus founded in September 2011 and launched in March 2012. “We design our own exquisite collections in addition to housing the very best edit of independent designers,” says Founder & CEO, Tamhant Jain.
Ivory tag differentiates itself from other ecommerce start-ups by designing their model to fill product gap rather than the channel gap. Their team of designers envisage a brand which merges Indian roots and global influences. While designing the product, the overall context, lifestyle and dressing of the modern Indian woman is envisioned. “The products which come with some grounding won’t be easy to beat. It is very easy to import stuff from China or elsewhere, but to design things thoughtfully may not come that easy. We are asked if the big ecommerce retailers are our competition. Truth is they are our partners and not competition. Actually, we are creating a unique product and tomorrow, they’ll want to carry it,” says Marketing & Brand Manager, Gyanesh Pandey.
Ivory Tag sells its products both online and offline. They recently opened at Central, Oberoi Mall, Mumbai. They also have a customer lounge in their Powai office.
Modern Indian women are their main targets. Through their understanding and fusion of fashion and culture, they expect the markets of the accessories business to grow to about 5 Billion USD in the next 5-6 years.
Marketing activities are primarily through the digital medium; however recently, they have targeted some offline activities as well. They are going to employ both Clicks and Bricks in their marketing strategy.
“Our offering is not a conceptual service but a tangible product. However, a good design is the most intangible thing and we intend to differentiate on that and eventually capitalize it,” says Tamhant on their revenue model.
Founder & CEO, Tamhant Jain, (MBA -Harvard Business School & a graduate from IIT Kanpur) has extensive experience
in technology and retail both in India and USA. Founder and VP Products, Jayesh Desai has decades of experience in fashion accessories. Gyanesh Pandey, Marketing & Brand Manager, is a graduate from IIT Kanpur with varied experience in media, ad agencies and technology. He handles the marketing activities. The Ivory Tag team has 20 members including designers, craftsmen and support staff.
“In a country where business environment is governed by ‘trader’ mentality, it is difficult to orient yourself and others to create something fresh. Be it talking to designers, technology folks or investors – presenting a fresh product is always a challenge,” says Tamhant.
Going forward, they plan to extend to major and minor allied categories in the next quarter. They are negotiating and planning for partnership with two big online retailers. After Central, they intend to partner with other life style retail stores. They also are in talks for a partnership for the launch of Ivory Tag in the US.
Currently seed funded, Ivory Tag is also looking to raise more funds to expand their venture and take it to the next level.
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