Biography of Vivek Gaur: Co-Founder of Yepme.com- Serial Entrepreneur
Story of Vivek Gaur: A Serial Entrepreneur
Vivek Gaur, a serial entrepreneur, has a track record of
launching successful ventures. Prior to co-founding Yepme, a fashion apparel
portal, he launched Baggittoday, an estore specializing in bags, accessories,
and sunglasses. His entrepreneurial spirit and experience in the ecommerce
sector laid a strong foundation for Yepme.
Educational Background
Vivek is an alumnus of Delhi College of Engineering (DCE)
and the Indian Institute of Management (IIM), Lucknow. His educational background
in engineering and management has equipped him with the technical and strategic
expertise needed to navigate the challenges of the ecommerce landscape and
drive innovation at Yepme.
Founding of Yepme
Yepme.com was launched in April 2011 by Vivek Gaur, Sandeep
Sharma, and Anand Jadhav. Vivek Gaur, who serves as the CEO, brought his
experience from building successful online ventures like Bagittoday.com and
holding senior positions in marketing and sales at HT Media Ltd, Living Media,
and Hindustan Unilever Ltd. Sandeep Sharma, the founder, COO, and CTO, is an
expert in e-commerce, technology, and operations, with senior roles at
Accenture, Sapient, SBI Capital Markets, and HCL Technologies. Anand Jadhav,
the president, is a merchandising and supply chain specialist with experience
at leading apparel retailers like Shoppers' Stop, Globus, Pantaloon, and
Reliance Trends.
Market Opportunity
In 2010, the founders recognized the immense growth
potential in India's online shopping market, which was predominantly occupied
by the travel sector at the time. This realization led them to enter the online
apparel market, launching Yepme.com as an online apparel retailer. By August
2011, Yepme decided to pivot its focus towards private label fashion-wear
instead of branded apparel. The founders noticed that larger brands were
offloading their end-of-lifecycle products to online retailers to avoid price disparities
between physical stores and online platforms. This prompted them to establish
Yepme as a private label apparel brand, promoting its own fashion line.
Yepme: Funding and Growth
Yepme has secured a total funding amount of US$102 million,
with key investors including Khazanah Nasional Berhad and Helion Venture
Partners. The company has reached the Series B funding stage and operates in
the ecommerce industry. This substantial financial backing has enabled Yepme to
expand its reach and enhance its offerings in the competitive online fashion
market.
Biography of Vivek Gaur: Co-Founder of Yepme.com- Serial Entrepreneur/Angel Investor/Yepme story/Success story of Vivek Gaur/Life story of Vivek Gaur
Leadership at Yepme
As the CEO and Co-Founder of Yepme, Vivek Gaur has been
instrumental in steering the company's growth and success. His leadership
experience extends to senior positions in HT Media and Living Media, where he
served as Business Head for the North & East regions and as Executive
Director, respectively. These roles provided him with valuable insights and skills
that have been crucial in managing and scaling Yepme.
Experience in Sales and Marketing
Vivek Gaur's extensive experience in sales and marketing,
gained during his 10-year tenure at Hindustan Unilever Limited (HUL), has been
a significant asset in his entrepreneurial journey. At HUL, he honed his skills
in business development, strategic planning, and market analysis, all of which
have contributed to his success in the ecommerce industry.
Future Plans and Innerwear Segment
Yepme aims to enter the innerwear segment, aspiring to
compete with international brands that sell innerwear for Rs 999 per piece.
Gaur emphasizes that Yepme will offer fit, fabric, and fashion of international
standards at 60% lower prices, importing fabric to ensure quality. To make
shopping accessible to all Indians, the portal offers a cash-on-delivery
option, allowing customers to pay upon receipt of their orders. Gaur mentions
that Yepme strives to dispatch orders within 48 hours of verification, and only
available products are displayed on the site to maintain inventory accuracy.
Innovative Customer Experience
Gaur believes that the online apparel market in India has
significant growth potential, mirroring global trends where fashion is the
biggest online category. To mitigate risks and encourage consumer behavior
change, Yepme offers innovative features like a virtual dressing room,
hassle-free return policies with return envelopes, a 30-day return policy with
reimbursement, and real-time call connect with the call center. The site also
replicates offline shopping experiences by categorizing collections based on
occasions like formal, casual, outdoor, or party wear.
Vision and Future Plans
Yepme’s vision, articulated by Vivek Gaur, is to build a
differentiated online private label business in apparel, footwear, and
accessories. The company targets men aged 25 to 44 from semi-urban and urban
India, with plans to expand into women's and kids' categories. Yepme also
intends to foray into the innerwear segment, aiming to compete with
international brands by offering high-quality products at lower prices.
Focusing on Quality and Growth
Yepme does not rely on discounting but rather rewards
customers for future purchases and continuously adds new products to the site,
with 20-25% new styles introduced monthly. Gaur emphasizes the importance of
quality, stating that it doesn’t come cheap. Yepme aims for a $25 million
turnover in its first year, with plans to scale it to over $500 million in the
next three years, demonstrating Gaur’s optimism and strategic approach to
capturing the Indian online fashion market.
Timeline for Vivek Gaur
April 2011: Co-founded Yepme.com, a private label
fashion-wear portal, with Sandeep Sharma and Anand Jadhav.
December 2010: Launched Bagittoday.com, an estore
specializing in bags, accessories, and sunglasses.
2011: Yepme pivoted to focus on private label fashion-wear.
August 2011: Secured initial funding and began rapid
expansion.
Ongoing: Yepme has secured $102 million in funding and aims
to enter the innerwear segment, with plans to scale turnover from $25 million
to over $500 million in three years.
