HIDESIGN EXPERIENCES STRONG GROWTH IN E-COMMERCE FOR FIRST HALF, 2013-14
“But Lots of Work Ahead Especially in Operations” Says Akshat Tiwari, Business Head Department Stores and E-Commerce”
Pondicherry, Sept 25, 2013: Hidesign’s e-commerce business witnessed an explosive 215% growth in the first half of 2013-14 versus the same period last year. The growth is due largely to the opening of new accounts, and is expected to maintain this rate into next year as Hidesign continues to open new accounts. “The Hidesign e-commerce story is truly in its nascent stages as we have been very conservative in developing this segment of our business,” says Mr. Tiwari.
Hidesign expects Q3 to show even greater growth as a result of stronger sales from hidesign.com and the opening of at least three new large e-commerce accounts with which negotiations are in process. Hidesign.com recently upgraded its website to offer its online customers and brand loyalists greater functionality including a cash on delivery payment option and click to call shopper services. Hidesign.com customers can now also search its online catalogue by type of bag, price range and color. Hidesign’s gift and loyalty card programs will soon be integrated with its website, offering online customers an experience very much like that which they would experience in a physical store. Dipen Desai, Brand Manager, said “With these new features in place on hidesign.com, we can offer our online customer a truly satisfying experience. We now intend to advertise and market our website and expect strong growth in traffic and sales.”
The other source of growth is new accounts with pure e-commerce players. Q3 will see Hidesign offered on at least two more very significant e-commerce websites. “There is huge opportunity here,” says Mr. Tiwari “but Hidesign must invest in the infrastructure that is required to grow the business, including a dedicated photographer, more efficient warehousing, and greater stock allocations. The process is underway, but not fast enough to keep pace with the demand.”
Dilip kapur, founder & President of Hidesign, agrees in large part with Mr. Tiwari’s assessment and credits Messrs. Tiwari and Desai for the continued expansion in e-commerce. Mr. Kapur adds that “over the next two years we will invest significant resources in this segment of our business. It is the right time now to take this business to the next level. Our customer demands and deserves it.”