Currently bootstrapped, this online apparel brand launches a new collection every 21 days to cater to the discerning customer.
At a Glance
Founders: Maharsh Shah and Namya Patel
Year it was founded: 2018
Where it is based: Ahmedabad
Problem it solves: Online apparel brand
Funding raised: Bootstrapped
Most of us go through the rigmarole of wanting to wear something unique every day. We open our wardrobe and most often exclaim in frustration, that we have nothing interesting to wear. The need for exclusivity and the desire to own something new each time is a constant challenge for many.
Enakshi, founded in 2018 by two friends Maharsh Shah (20) and Namya Patel (22) attempts to address this confusion with a unique concept.
The brand is an online boutique for women, which offers fusion wear created by a pool of designers, handpicked by the founders.
“In line with our philosophy - ‘One Woman, One Design, One Garment’, every Enakshi patron is assured that her apparel design will not be owned by anyone else, and she can celebrate her uniqueness with her own attire,” says Maharsh.
“We launch a new collection every 21 days, and each collection is designed by a panel of designers, in line with the brand’s vision. Our products are priced at affordable rates and cater to women of all age groups,” he adds.
The duo wanted Enakshi to be one of the most unique and user-friendly brands in the market. Hence, it first identified the possible pain points and then started addressing them in sequence.
They began by developing a strong backend technology for the website. “We wanted to make our website as customer-friendly and engaging as possible. We spent a great deal of time on the look, feel, design and operation of the website,” says Maharsh.
Another very important concern that the company wanted to address was the question of ‘what do I wear tomorrow’?
“This is a universal problem that almost every woman faces, no matter how her wardrobe is. The primary reason behind this is the desire to wear something novel/interesting every day. Through our selection of designs, we have ensured novelty, and therefore decided to address the other part of the concern by working on our delivery logistics,” he says.
“We understand the eagerness of our customers to try their latest apparel. Hence, we developed a system that enables Enakshi apparel to be delivered in a day,” explains Maharsh.
Both Namya and Maharsh have always been interested and inspired by the fashion retail industry. Maharsh grew up observing the industry due to his family business, under the brand name Deepkala, which has been operational in Gujarat for more than 80 years now.
Namya also had a keen interest in the fashion industry and always wanted to start a venture of her own.
“Both Namya and I wanted to come up with a unique fashion apparel brand that addresses some of the major demands of women. With experience in Deepkala, and learnings shared by my father, Namya and I decided to start a brand that celebrates the uniqueness of women, introduces novelty in their wardrobe and addresses their concern. This triggered the birth of brand Enakshi,” says Maharsh.
Through Enakshi, the duo also wanted to give the talented yet under-appreciated designers a platform to showcase their creativity. “We came up with the idea of launching a new collection every 21 days, each designed by a different panel of designers every single time. This helped us not to only address the novelty factor but also helped in our initiative to promote talented designers from across the country,” says Maharsh.
The company currently has a team of five.
Namya (22) holds a Bachelor’s degree in Media & Communications with specialisation in Film from Goldsmiths, University of London. She is responsible for the aesthetics, communication and product management at Enakshi.
Maharsh (20) is currently a third-year BBA student at Pandit Deendayal Petroleum University, Gandhinagar. He acquired the business acumen from his father, and decided to take his family legacy a step further. The duo conceptualised the brand Enakshi together along with his Maharsh’s father, Nilay Shah, in end of 2016, and later co-founded the company in 2018.
Enakshi currently operates only in the online space, and the products are priced in the range of Rs 1,500 to Rs 6,000.
The company claims to have already built a customer base of 1,200 people in just two months. It has so far generated revenues of over Rs 3 lakh.
At present, the company runs on a B2C revenue model.
“We areplanning to venture into the offline model this year, with our first flagship store, followed by all boutique style stores,” says Namya.
According to a report in Statista, the Indian apparel industry is the second-largest contributor to the retail industry, after food and grocery. The women’s apparel market contributes 38 percent revenue to the total apparel industry in India. It was estimated to be worth $17.5 billion in 2016, and is expected to grow at a CAGR of 9.9 percent to reach $44 billion by 2026.
Currently bootstrapped, the company is looking to raise funds to aid its expansion plans. “We are in talks with a few investors, and are open to discussions/suggestions to improve our brand deliverables and marketing strategies,” says Maharsh.
After establishing a strong base in Ahmedabad, it wants to expand to other Tier 1 and Tier 2 cities.
“Our target audience are primarily concentrated in these cities and we want to expand more in these regions. We would also like to continue developing apparel designs to meet the demands and likes of every modern woman, mostly in the age group of 18 to 48 years,” he adds.