Biography of Shivam Soni: Founder & CEO of Beyoung.in- Entrepreneur
Biography of Shivam Soni
Shivam Soni's entrepreneurial journey began with a clear
vision to create an accessible fashion brand for the masses. In 2018, amidst
the burgeoning digital shift in India, he saw an opportunity to cater to the
underserved markets of tier-2, tier-3, and tier-4 cities. Inspired by the
traditional necessities of life—Roti, Kapda, and Makaan—Shivam decided to focus
on “Kapda” (clothing), aiming to fill a significant gap in affordable yet
aspirational fashion for these regions. His goal was to offer stylish,
high-quality clothing at prices that were accessible to a broader audience.
Building Beyoung
With a strong vision in place, Shivam launched Beyoung.in in
June 2018. Based in Udaipur, this e-commerce fashion brand was established with
the intent of providing premium fashion items at affordable prices. From the
outset, Beyoung aimed to cater specifically to the youth in tier-2, tier-3, and
tier-4 cities, which had been largely overlooked by other brands. Shivam's
strategy was to build a brand that resonated with the aspirations of this
demographic while remaining within their budget.
Early Challenges and Bootstrapping Success
Starting with limited resources, Shivam chose to bootstrap
Beyoung, relying solely on internal funding rather than external investment.
This approach allowed him to retain full control over the brand's vision and
operations. Despite the challenges of managing a startup without external
capital, Shivam’s effective financial and operational strategies ensured that
Beyoung could scale rapidly while remaining profitable. Over time, the company
achieved a remarkable annual revenue of 150 crores, proving the viability of
his model.
Diverse Product Range
Beyoung’s product range includes a variety of trendy and
affordable fashion items, from clothing to accessories. The brand focuses on
delivering high-quality products that meet the style and affordability needs of
its customers. To maintain consistency in quality across all categories, Beyoung
employs a dedicated Quality Assurance team. This team meticulously inspects
each product and works closely with production partners to ensure that every
item meets the brand’s high standards.
Understanding the Market
To design products that resonate with its target audience,
Beyoung conducts in-depth research into customer preferences. The brand
frequently surveys its audience to understand their fashion aspirations and
demands. By analyzing these insights, Beyoung can create designs that align with
current trends and customer desires, ensuring that their offerings are both
appealing and relevant.
Keeping Up with Trends
Staying current with fashion trends is crucial for Beyoung’s
success. The team continuously monitors social media platforms and conducts
thorough market research to identify emerging styles. This approach allows
Beyoung to incorporate the latest trends into their product lines.
Additionally, the merchandising team explores offline markets for fresh ideas
and inspiration, ensuring that their collections remain on-trend and desirable.
Competitive Pricing Strategies
One of Beyoung’s core strengths is its ability to offer
competitive pricing without compromising on quality. To achieve this, the brand
draws inspiration from international fashion giants and adapts their strategies
to fit local preferences. By simplifying certain features of their products and
leveraging forecasting data, Beyoung manages to offer stylish clothing at
prices that remain accessible to its customers.
Incorporating Customer Feedback
Customer feedback is integral to Beyoung’s product
development and service improvement processes. The brand collects feedback
through various channels, including its website, social media, and customer
service interactions. This feedback is analyzed using advanced technology to
identify patterns and areas for improvement. By integrating these insights,
Beyoung continually enhances its products and services to better meet customer
needs.
Biography of Shivam Soni: Founder & CEO of Beyoung.in- Entrepreneur/Age/Net worth/affordable and aspirational fashion/Shivam Soni story/Beyoung
Engaging with the Community
Beyond selling products, Beyoung actively engages with its
community of customers. The brand maintains a strong presence on social media,
where it interacts with customers and fosters a sense of community. Surveys,
polls, and reviews are used to gather feedback and improve offerings. Beyoung’s
commitment to understanding and connecting with its audience helps build a loyal
customer base.
Overcoming Scaling Challenges
Scaling Beyoung from a startup to an established brand
presented several challenges, including maintaining working capital and
managing inventory efficiently. Shivam and his team addressed these issues
through strategic planning and technology adoption. Implementing
technology-driven solutions for inventory management and quality control helped
avoid dead stock and enhanced operational efficiency. Financial management was
also critical, balancing expenditure with investments in growth to ensure
sustainable success.
Building a Strong Team
Shivam Soni believes in the power of a strong team. From the
beginning, he fostered a collaborative environment where each team member was
considered a co-founder. This inclusive approach contributed to a cohesive team
dynamic, driving the brand’s growth and success. By valuing and empowering his
team, Shivam created a motivated workforce dedicated to achieving the brand’s
vision.
The Beyoung Experience
In its first year, Beyoung achieved notable milestones,
including 3 lakh orders and 33,000 organic Instagram followers. These early
successes were a testament to the brand’s appeal and the effectiveness of its
strategy. The company’s strong social media presence and positive customer
feedback helped build trust and establish Beyoung as a reputable fashion brand.
Innovation and Customization
Beyoung differentiates itself through its focus on
customization. The brand offers personalized options such as custom t-shirts
and mobile covers, catering to individual preferences and enhancing customer
satisfaction. This emphasis on customization not only meets specific customer
needs but also adds a unique touch to Beyoung’s product offerings.
Expanding Product Range
Over the years, Beyoung has significantly expanded its
product range, reflecting its growth and ability to meet diverse customer
needs. The brand’s commitment to offering a wide array of fashionable items
ensures that it remains relevant and appealing to its target audience. This
expansion is a key factor in Beyoung’s ongoing success and market presence.
Managing Growth and Expansion
As Beyoung grew, managing its expansion effectively became a
priority. The brand focused on strategic growth, carefully planning its
operations and scaling its team to support increased demand. By implementing
robust internal processes and investing in technology, Beyoung ensured that it
could handle growth while maintaining high standards of quality and customer
service.
Fostering Innovation
Shivam Soni’s approach to innovation is central to Beyoung’s
success. By continuously experimenting with new styles and designs, the brand
stays ahead of fashion trends and keeps its offerings fresh and exciting. This
innovative mindset helps Beyoung capture the evolving tastes of its customers
and maintain its competitive edge in the fashion industry.
Future Aspirations
Looking ahead, Shivam Soni remains focused on expanding
Beyoung’s reach and impact. His vision includes continuing to provide
high-quality, affordable fashion to a growing audience while exploring new
opportunities for innovation and growth. By staying true to the brand’s core values
and adapting to market changes, Shivam aims to solidify Beyoung’s position as a
leading fashion brand in India.
Conclusion
Shivam Soni’s journey with Beyoung.in illustrates the power
of vision, innovation, and strategic planning. From its humble beginnings,
Beyoung has grown into a successful fashion e-commerce brand, achieving
significant milestones and making a mark in the industry. Shivam’s dedication
to providing affordable, aspirational fashion and his commitment to customer
satisfaction have been key drivers of the brand’s success.
Timeline for Shivam Soni's Entrepreneurial Journey with Beyoung:
2018 - Identifies a market gap in tier-2, tier-3, and tier-4
cities and launches Beyoung.in in Udaipur.
June 2018 - Beyoung officially starts operations, focusing
on affordable and aspirational fashion.
2019 - Achieves 3 lakh orders and 33,000 organic Instagram followers
in its first year.
2020 - Doubles annual revenue to 150 crores, demonstrating
rapid growth and profitability.
2021 - Expands product range and introduces customization
options like custom t-shirts and mobile covers.
2022 - Implements technology-driven solutions for inventory
management and quality control.
2023 - Continues to scale, focusing on strategic growth and
maintaining high standards of quality.
2024 - Plans further expansion and innovation, aiming to
solidify Beyoung’s position as a leading fashion brand in India.
