Inkfruit
COMP ANY OV E R V I EW B U S I NESS MOD E L P R E S ENTED B Y : K U MAR LOU H I T BFT-VI NIFT
COMPANY OVERVIEW
Inkfruit is an online t-shirt store, where t-shirt designs are submitted and voted for by a community Inkfruit is Asias largest co-creation brand for people to submit, discover and buy amazing designs created by artists from around the world.
The selected designs then get to you through T-shirts, Flipflops,Sling bags, Laptop skins, etc. Based around the ongoing designing contests, all the designs you see on Inkfruit have been submitted by our community.
COMPANY OVERVIEW
Headquartered in Mumbai, India, Inkfruit officially launched in early December 2007(then called Gnome).
The selected designs then get to you through T-shirts, Flipflops,Sling bags, Laptop skins, etc. Based around the ongoing designing contests, all the designs you see on Inkfruit have been submitted by our community.
USP
RETURN POLICY
If customer doesn't like what they get, they can send it back to Inkfruit. As per their wish, company will replace it with any other design they might want or refund their payment. Inkfruit really want you to love what customer gets and not be "stuck"with it.
INITIAL INVESTMENT
In making the pilot website to check the feasibility of the website . Designing the website, buying domain . Personal investment made by both founders Kashyap dalal and Navneet Rai .
BUSINESS MODEL
Value Proposition
CUSTOMER END : Customers get to select latest amazing design of their own choice to be printed on the products (i.e. T-shirts, laptops, wallets, Flip-Flops) every week at a click. Customers get an affordable price in comparison to other branded apparels. Customers get delivery of the ordered product at their respective geographical location without being charged for the shipping cost. Shipping of the order is also available outside India.
BUSINESS MODEL
Value Proposition
CUSTOMER END : Customers also get an additional facility of Easy Return Policy on the products being purchased from the website. Customers get to browse through various designs and vote the best design.
BUSINESS MODEL
Value Proposition
DESIGNER END: Inkfruit.com provides new amateur designers a platform to showcase their creative designing skills for the buyers. Designers also get an opportunity to have an exposure by winning the Weekly Competition and can also earn a monetary benefit through it.
BUSINESS MODEL
Value Proposition
SUPPLIER END: Retailers get a minimum sales guarantee deal from Inkfruit.com where the latter abides to compensate the retailers for any sales less than the agreed minimum target.
BUSINESS MODEL
Revenue Model
SALES REVENUE MODEL: Inkfruit.com sells the given products in various categories- Designer Tshirts, Designer Laptop Skins, and Designer Flipflops, Bags, Wallets, Bag Flaps. Here the revenue model being used by Inkfruit.com is the sales revenue model. Inkfruit.com sells these products at an affordable price to the customers, where customer gets a facility to pay through various payment methods
BUSINESS MODEL
Types
Inkfruit.com is basically a B2C Business Model where it works as an Online Retail Store (i.e. e-tailor) of the products being offered. It provides an online interface of various Designed tshirts for its users.
ONLINE COMMUNITY
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MARKETING STRATEGY
Blue Ocean Strategy
Inkfruit.com has used a blue ocean strategy and entered or for that matter created a market space which for that matter was unavailable at least in India. Instead of being just another place for selling shirts, it in fact is a place for T Shirt designers to hangout
MARKETING STRATEGY
Blue Ocean Strategy
Create uncontested market space Make the competition irrelevant Create and capture new demand
Break the valuecost tradeoff
Align the whole system of a companys activities in pursuit differentiation and low cost of
CROWDSOURCING
Crowdsourcing is the act of outsourcing tasks, traditionally performed by an employee or contractor, to an undefined, large group of people or community (a "crowd"), through an open call.
CROWDSOURCING - INKFRUIT
Inkfruit has gone ahead and adopted a co-creation model and democratized its design process. Theyre crowdsourcing their design process. From the beginning their business model has been focused on getting their designs right. In this process, Infkfruits business model has gradually evolved into a more intensive co-creation model. Inkfruit let the community do their stuff and help them in whatever way they can.
SUPPLY CHAIN MANAGEMENT
Inkfruit had particular difficulties in sorting out their deals with the suppliers and retailers in the initial days due to their low volumes. As Kashyap Dalal, founder-CEO of Inkfruit explained that during their interactions with the t-shirt printers, they realise that there is always a fixed cost and a variable cost of printing any design. The fixed cost consists of making the dyes used in printing the tshirts.When the volumes are low, the fixed cost is a major component and therefore it is not profitable for suppliers to supply low volumes of tshirts. In order to solve this situation, Inkfruit cut a deal wherein Inkfruit paid a fixed price, to cover the fixed costs of the manufacture, and a variable price. Overtime, with their volumes improving, they switched to the conventional system.
SUPPLY CHAIN MANAGEMENT
There were similar problems at the retailers end. Retailers were doubtful about how long Inkfruit would continue and if Inkfruit would be able to bring in sufficient sales.
Inkfruit again provided the retailers a minimum sales guarantee deal wherein Inkfruit will compensate the retailers for any sales less than the agreed minimum target.
However Inkfruit received warm response from customers and they never really had to compensate any retailer.
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