The partnership aims to strengthen Beyoung’s online presence in India
New Delhi: Udaipur-based fashion brand Beyoung has partnered with New Delhi-based e-commerce enabler platform Gokwik, a release by the company said on Tuesday.
The partnership aims to strengthen Beyoung’s online presence in India by expanding cash-on-delivery (COD) serviceability while addressing the challenge of high return to origin (RTO) rates.
“Cash on delivery remains a preferred choice for many across India, and with GoKwik’s expertise, we aim to deepen our COD footprints, without worrying about the RTO losses. By utilising their advanced risk intelligence-based solutions, we hope to reach diverse consumer segments, further enhance our gross merchandise value (GMV), and effectively manage challenges related to COD orders,” said Shivam Soni, founder, Beyoung.
Since its inception in 2018, Beyoung has clocked a revenue of over Rs 250 crore. It gained over 1.5 million customers in the last few years and has delivered over 20 lakh orders successfully. With a current gross merchandise value (GMV) of Rs 150 core, the brand targets to achieve Rs 600 crore GMV in the next three years.
The company recently raised funds from the Royal Office of Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan from Abu Dhabi. With this investment, Beyoung plans to enhance its omnichannel presence worldwide with plans to launch over 300 stores globally in the next three years.
