LatestOne.com announced entry into the fashion accessories segment
with the launch of a wide assortment of product like wallets, watches and
sunglasses. This is in line with LatestOne.com’s strategy of continuously innovating
and introducing promising categories to meet rapidly changing customer needs
and demands.
with the launch of a wide assortment of product like wallets, watches and
sunglasses. This is in line with LatestOne.com’s strategy of continuously innovating
and introducing promising categories to meet rapidly changing customer needs
and demands.
The fashion accessories market size
of India is estimated to be USD 4.5 Billion while the tech & mobile accessories
market size is USD 3.0 Billion. LatestOne.com’s pan India consumer survey showcases
growing fashion awareness in tier-I and tier-II cities, consumers between the
age group of 18-34 prefer to buy fashion accessories online and male to female
purchase ratio is 4:1.
of India is estimated to be USD 4.5 Billion while the tech & mobile accessories
market size is USD 3.0 Billion. LatestOne.com’s pan India consumer survey showcases
growing fashion awareness in tier-I and tier-II cities, consumers between the
age group of 18-34 prefer to buy fashion accessories online and male to female
purchase ratio is 4:1.
On the entry into fashion
accessories space on LatestOne.com, Mr. Ameen Khwaja, the Founder and CEO of
LatestOne.com said, “The Indian fashion accessories market is expected to grow to
$ 6 billion by 2019. It is obviously a promising market with strong growth.
Fashion consumers are increasingly opting for online fashion accessories. The
frequency of purchase by an individual customer has increased and online sites
provide a wider choice before making a selection. The accessories market is not
limited to urban consumers. With the increase in penetration of internet it is
gradually spreading across tier-II and tier-III cities as well.”
accessories space on LatestOne.com, Mr. Ameen Khwaja, the Founder and CEO of
LatestOne.com said, “The Indian fashion accessories market is expected to grow to
$ 6 billion by 2019. It is obviously a promising market with strong growth.
Fashion consumers are increasingly opting for online fashion accessories. The
frequency of purchase by an individual customer has increased and online sites
provide a wider choice before making a selection. The accessories market is not
limited to urban consumers. With the increase in penetration of internet it is
gradually spreading across tier-II and tier-III cities as well.”
There are several similarities and
synergies in Tech & Mobile accessory and fashion accessory space, which led
LatestOne to a logical extension of products to add this category. “LatestOne.com
will invest INR10 million per month and will sell semi-branded/non-branded
fashion accessories. Initially, our focus will be on male accessories priced
between INR 199 – INR 500,” added, Ameen Khwaja.
synergies in Tech & Mobile accessory and fashion accessory space, which led
LatestOne to a logical extension of products to add this category. “LatestOne.com
will invest INR10 million per month and will sell semi-branded/non-branded
fashion accessories. Initially, our focus will be on male accessories priced
between INR 199 – INR 500,” added, Ameen Khwaja.
Key similarities in Tech &
Mobile accessory and fashion accessory space are:
Mobile accessory and fashion accessory space are:
·
Similar online buying pattern
Similar online buying pattern
·
Same customer profile
Same customer profile
·
Same price range of products
Same price range of products
·
Procurement channel is similar
Procurement channel is similar
·
High margin, high volume, low value
products
High margin, high volume, low value
products
·
Products are small in size and
amenable to logistics of warehousing & delivery.
Products are small in size and
amenable to logistics of warehousing & delivery.
In the last 3 months, over 100,000
orders in the category of fashion accessories have been processed by
LatestOne.com. The target is to process 5,000 orders per day in this category
by next financial year.
orders in the category of fashion accessories have been processed by
LatestOne.com. The target is to process 5,000 orders per day in this category
by next financial year.
