Making a Million Millionaires!
Entrepreneur India, in conversation with co-founders of LaYuva on how a million retailers can become millionaires!
The e-commerce wave has hit India indefinitely. Initially, it was Flipkart that was the torch-bearer and face of Indian retail start-up ecosystem. Today there are many to follow, join the bandwagon or even create their own league in the field of e-commerce retail.
Entrepreneur India interacts with Rahul Bahukhandi, CEO & Co-Founder, LaYuva and Tim Yang, Co-Founder and COO.
The Company has a huge database of global high-quality products which are imported from over 36 countries including Australia, Germany, France, Netherlands, South Korea, Canada, Malaysia, United States, Japan, Thailand, New Zealand, Israel, Italy, United Kingdom, Spain and Norway.
LaYuva started in January 2018 is exactly a year old now. “When we started our operations in January 2018, we added value-for-money unbranded products to our portfolio,” says Bahukhandi. They are in this business to offer a better variety of products to their customers, adding branded products was always part of their plan and now the plan is getting executed with MiniSoo, Vegoos and Beauty Buffet in their kitty.
LaYuva aims to give provide its users with many options. Bahukhandi says that to buy a pair of sunglasses, one rushes to the store of Ray Ban but there is a brand called Vegoos that may not give a product that is better but definitely one that is at par with Ray Ban at a lesser price. Some products are very popular in their base-countries but other countries also deserve to know about them. LaYuva does just that.
Indian consumers are a smart lot. When they observe and analyze the entire market, they are able to differentiate between right and wrong. At LaYuva, the aim is to give a high-quality product with the same specification at a lower price.
The conversation now shifts with Tim Yang. Yang is also the former Country Head for India of Baidu, a China-based online search platform. It is literally the “Google of China.” I ask what made him choose India for basing operations of LaYuva in India. “Population,” pat comes the reply. But what about the diversity in the consumer base of India? Bahukhandi intervenes and feels that Indians know how to embrace the technological and economic advancements and use them to their benefit. So diversity is a boon, not a bane. Yang also insists that China is a matured economy while India is still fresh. However, India has progressed greatly and that makes it all the more appropriate for market experimentation and e-commerce. Both Yang and Bahukhandi understand the internet industry well, owing to their backgrounds. No wonder this mobile application which has fashion, beauty and a whole range of products for men and women is slowly finding its way into the country and the world.
A Million Millionaires
The aim of Yang and Bahukhandi is simple. It is to make a “million millionaires.” The e-commerce platform is introducing a new initiative to its existence.
LaYuva is now rolling a new model of subscription for its users with added benefits. The basic premise of LaYuva’s new business model revolves around Affiliate Marketing. Bettering its earlier proposition of offering cash back on all transactions to all its VIP members, LaYuva has made its model even more rewarding and introduced positions of Manager and Director which encourages users to climb up the hierarchy chain and earn more benefits.
Bahukhandi recognizes a quintessential predicament in the Indian retail market. “Too many middlemen.” The latest offering endeavours to vanquish this very aspect. While a LaYuva affiliate member will earn up to 40per cent of cashback on sharing or purchasing LaYuva’s products, on becoming the Manager, the person will start getting an additional 25per cent of the commission of what the affiliate/VIP under him will get as cash backs. Once the person achieves the target and becomes a Director, he/she can start earning 25per cent commission of what his/her team will get as cashback. Over and above this, the Director will also earn 25per cent commission of the management bonus received by all the Managers in his team in addition to 25per cent of his Manager’s (direct +indirect) settled monthly cashback.
This will not just give regular income to the retail industry but also a passive income to the those who buy, then recommend to someone as well because in return, they will get money as well.
LaYuva is available on Google Playstore.