Today, India's art market is worth approximately Rs 1,200 crore. The handicrafts market, meanwhile, is approximately Rs 16,000 crore, even after excluding garments and jewellery. The global market for art online is expected to grow year-on-year at the rate of 20 percent, from $2.6 billion in 2014 to $6.3 billion in 2019.
Addressing this market opportunity, Himjal Pradipkumar decided to promote Indian arts and encourage the artisans and craftsmen of the country.
Himjal says, "With the help of technology, we would like to take original and handmade arts, handicrafts and antique home decor to the global markets. This will offer an opportunity to the talented artisans and craftsmen from across India."
Himjal Pradipkumar founded Artzyme along with Aparna Himjal on 3rd November 2015, and formally launched it in January last year.
Aparna is an artist and graphic designer who brings creativity to the team and to the portal. Megha, a friend, supports them immensely in business development of Artzyme.
Himjal himself has worked in leading global and Indian MNCs and local consumer product companies. He was the Vice President - S&M in a major FMCG company before starting Artzyme.
How does Artzyme help Indian craftsmen showcase their talent?
Artzyme is an online marketplace for arts - original paintings, genuine handicrafts and authentic home decor. They catalyse creations of skilled Indian artisans and craftsmen unveiling their finest works to the world. They showcase, market and deliver the same to art lovers across India.
Himjal says, "Being an online platform, our customers can buy art from other regions through just a click. The artist too gets a wider audience for displaying and marketing his arts. The customer also benefits as he pays less. The savings occur because the artisan saves the gallery/exhibition stall cost and we take care of pickup and drop of goods. The customer receives the delivery at his doorstep without having to bear any additional cost of shipping."
Story behind the name
The name Artzyme is an amalgamation of the words ‘art’ and ‘enzyme’. Enzymes are catalysts/accelerators, and the company intends to serve that purpose in the world of arts.
Customers can sort through a variety of original paintings, handicrafts, antique home decor, nameplates, lampshades and gift cards, among other things, according to budget and genre. They can find products for different occasions, and are given access to art from locations across the country, like Warli from Maharashtra, Gond from MP, Tanjore from TN, and more. Customers can also find abstracts, landscapes, figurativism, hyperrealistic, modern art, Buddha collection and so on.
Revenue growth and projections
Currently, Artzyme is bootstrapped. Being a startup, there is more money being put into the company than is coming out, which is the norm. And while the revenues are low, they are getting regular orders. Their focus will be to soon establish a B2B model through tie-ups with architects and designers.
Artzyme is following the sales revenue model currently, with plans to follow the advertisement and affiliate revenue models in the future. They are looking at sponsorship advertisements in the banner space provided.