Zapyle: Vogue Instagram minting money out of women's closet
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Founded in May 2015 by Rashi Menda, who holds a degree in Economics and Finance from University of Minnesota, Zapyle is like an Instagram for women’s fashion attire, which allows its customers to discover, sell and buy pre-owned fashion attire. Prior to launching her start-up, Menda used to work with EY (Ernst and Young), which is a multinational professional services firm headquartered in London.
“Two years ago, I’d look at my own closet with an assorted collection of unopened, unworn shopping bags sitting on the floor – and still find myself saying, ‘I have nothing to wear!’ Just like me – millions of Indian women stock their closets with stuff worth over one billion dollars every year and still have nothing to wear. Nearly a third of their closet is never worn and another third is worn once or twice at the most. I wanted to change that. I wanted to create a platform that assists pre-loved clothes and accessories in finding new homes in new wardrobes, so nobody will ever have the problem of feeling like they have nothing to wear, and have fun while at we’re it! And thus, Zapyle was born,” opines Menda.
Bengaluru-based start-up Zayple provides a unique platform to fashion freak women, who love to share and discuss fashion, to sell their pre-owned fashion attire without worrying about anything. Apart from providing the platform to women to buy pre-used apparel, the venture also ensures quality control as they also accept the products from brands such as Prada, Louis Vuitton, Jimmy Choo, Tory Burch and many other domestic and international designers. Further, if buyers don’t want to keep the product, they can return it back to the company as they have 24 hours return policy. In case buyers don’t receive the order, full amount will be funded to them.
Recently, the pre-used apparel shopping mobile app Zapyle announced to secure $1million in seed round of funding from a bunch of unnamed real estate firms and investment companies in Bengaluru. The start-up plans to utilise this funding towards team expansion, strengthen marketing activities, acquiring more customers, and enhancing technology.
“Zapyle is a C2C (Consumer-to-Consumer) marketplace for pre-loved luxury products for women. We want to change the way women shop and give them the thrill of shopping with friends in the mall on a virtual platform. Zapyle is more than an average eCommerce platform - the application is personalised for every user. They only see what they really want to buy,” Menda adds further.
How it works?
Being a C2C marketplace, it is very easy to operate. Users just need to click a picture of the product, which she wants to sell and list it for sale. The price for pre-owned product is calculated on the basis of – how long ago the product was purchased? As soon as the buyer clicks to buy the product, team Zapyle makes the arrangement for pick up of product from the seller’s location and get it delivered to the buyer. Once the product is delivered to the buyer, the company transacts amount into the seller account. It charges 25 per cent commission on the sale value.