Old School Merchandisers like Richlook are Distancing Themselves from Ecommerce Unicorns
Established brands like Richlook still work with the Flipkarts, but prefer to speak more about working with the likes of Ajios and Cliqs.
Photo Credit : Facebook/@BusinessCoachingIndia,
Founder and MD of Richlook, (R) being recognized as a business leader
Richlook is an all-Indian clothing and accessories brand established in the year 1993 on the back of a humble corner in the by lanes of Karol Bagh, New Delhi. What started as a small garment shop, now has established itself into one of the most premier men’s clothing brands in the country.
Spearheaded by its dynamic founder and MD, Shiv Rattan Goyal, the company is a super example of how hard work and determination can produce results beyond imagination.
"Reflecting upon my adulthood, my father, who was a farm-entrepreneur, taught me an important lesson that “struggle is the mother of all necessity”. That thing has been of major importance to me and I have carried it till date with myself. I started from a small shop where trousers and shirts were stitched for elite class in Karnal. Through bootstrapping my savings I started off with a small shop in Karol Bagh, where we use to cater to the middle class families and every class alike," Mr Goyal began.
Richlook is now a clothing and accessory brand with over 56 stores in major parts of the country in over two decades. With an established manufacturing unit, spread over 60,000 sq. ft., at HSIIDC Industrial Area, Sonepat, Haryana, the company is equipped with state of the art technology and equipment ensuring seamless completion of the final product.
Over the years, Richlook, has ensured that its products follow a strict quality standard and then reach its target consumer. The fabrics and textiles are sourced from the best of the associates in the country and as well as, from around the world. The products manufactured by the brand ranges from men formal shirts, casual shirts, trousers, jeans, suits, blazers, waist coats in the garment category and socks, belts, ties, cufflinks and pocket squares in the accessories category.
Keeping up with the age of ecommerce, Richlook has opened its online store at www.richlook.in. Richlook also sells at all major renowned online platforms like Myntra, Jabong, Snapdeal, Flipkart, Shopclues, Ajio and Tata Cliq to name a few.
However, Richlook has distanced itself from most ecommerce sites because of all the uncertainty the unicorns are facing. Mr Goyal still has his game face on. When asked whether it is difficult to be in the retail business he said, “It can be hard and it can be easy as well, it varies from business to business. In initial stage of business, it was a little tough but as the demand of my quality supervised products grew; the situation and money improved and are still growing at a good percentile.
As an entrepreneur who bootstrapped his way to the top, Mr Goyal is now distancing himself from those heavily funded ecommerce partners he was once relying on. It is a poignant moment when the ecomm unicorns are not cited in his response on why he tied up with other ecommerce companies.
“Yes, we have tied up with various ecommerce platforms like Ajio and Tata Cliq, The reason I chose to go into it was because of its popularity and spectrum of buyer categories from across states of India. The procured profit percentage is 30 percent. The recent issues faced by ecommerce companies are affecting our business as well,” he concluded.
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