With the increase in the income of Indian women, they are ready to fulfil all their dreams. They are driving toward fashion and the jewellery market has always been a weak point for all women. How can someone stay away from pieces of jewellery!? Voylla is one such brand that ends your jewellery craving by providing a wide range of classy and trendy pieces. The company’s approval rating is more than 84% which is magnificent. Voylla offers a gorgeous collection of jewellery at affordable prices. They have thousands of happy & satisfied customers and their repeated customer rate is also high. So let us get into this article to read about the success story of the jewellery brand.
Voylla – Key Points
- Startup Name – Voylla
- Founding Year – 2011
- Founder – Vishwas Shringi
- Headquarters – Jaipur, Rajasthan, India
- Industry – Fashion (Jewelry)
- Area Served – India
- Total Employees – 54
- Revenue - $10 mn
- Stores in India – 150 plus
- Website – www.voylla.com
Voylla – Founder
Vishwas Shringi is the founder & CEO (Chief Executive Officer) of Voylla. He holds a B. Tech degree in Chemical Engineering from IIT, Madras, Masters of Computer Science & Engineering from Mississippi State University, and an MBA in Finance, Strategy & Operations from Carnegie Mellon University.
Before founding Voylla, Vishwas worked 6 years with Amazon and spent 15 years with various companies in the technology sector.
Voylla – Brand Name, Logo, and Tagline
- Brand Name – The brand name has been derived from the French word ‘Voila’, which means ‘that’s it, exactly!’. The company’s brand name is unique and quirky. It is different from any ordinary brand name and this is what distinguishes it from all the other companies in this industry.
- Logo – The company's logo is one beautiful greenish-blue colour and it features a diamond on the top. The alphabet ‘O’ is represented by a ring that signifies the main niche of the company.
- Tagline – Voylla has a small, catchy and impactful tagline. It is – Always Beautiful. The tagline itself is enough to make any woman or man feel confident about themselves.
Voylla – Fundings and Investors
Since its incorporation, Voylla has raised a total funding of $15.7 Million. Some of its fundings and investors are as follows:1. $186.6 K – Angel Round, 2012 2. $468.1 K – Angel Round, Snow Leopard Technology Ventures, 2013 3. $15 M – Equity, Peepul Capital, 2015
Voylla – Growth
Voylla has achieved tremendous growth since its incorporation. The company has already left a mark in the jewellery industry and they are not stopping anytime soon. Some of the major growth factors seen by the company are as follows:
- They launched an Ios app
- They grew 400% more from day one
- They have employed over 450 people in their business
- They have collaborated with various celebrities on several social media handles
- They have over 150 stores all over India, in various cities
- They have also partnered with Colors TV for the launch of Navrang Live
- Voylla launched a premium line exclusively for women – Studio Voylla
- They also launched 2 more lines – Nia and Dare by Voylla
- Voylla has a dedicated line for fashion-conscious Indian men as well - DARE
- They have their independent shops in various malls as well
Voylla – Social Media Presence
Today social media has become an integral part of everyone’s life. Every company is using this power of social media to increase their popularity and aware more people about their products. To succeed, it has become important for companies to up their social media game.
Voylla is currently accomplishing their social media presence and they have more than 175k followers on Instagram. Their social media page is also handled properly and they constantly keep posting new ranges on their Instagram handle.
Voylla – Competitors
Voylla is one of the strongest players in the Indian jewellery market. But the company do have some competitors who are performing well on several levels. Some of the main competitors of the company are as follows:
- Juvalia & You
- Miss A
- Crunchy Fashion
The company also has some Chinese competitors in the market.
Voylla – Challenges
Voylla has faced various challenges in its entrepreneurial journey. But the company always survived through all the thick and thin situations and came out with flying colours. Some of the biggest challenges that Voylla had to face are as follows:
- Pandemic – The current covid pandemic has hit several companies in numerous ways. Voylla being in the fashion industry had to suffer a lot due to this. Customers’ main was to maintain their health and focus on fitness and hardly anyone was paying attention to this aspect of their lives. Also, due to the worldwide lockdown, their offline stores were shut and online shopping was also on halt.
- Competitors – This is something that you will find in every field. Voylla also has some good competitors in the market and some of them are ready to give tough competition to Voylla. The company has to work harder to overshadow these companies and leave a long-lasting impact on their customer’s life.
Voylla – Future Plans
Voylla has some tremendous plans for the future. Some of them are as follows:
- The company is planning to open more stores in India mainly in tier 2 & tier 3 cities.
- They will soon invest a good amount of money in the expansion of their business.
- Voylla wants to focus on its revenue generation and double its profits by the end of FY 2022.
- They also want to expand their business by launching their products in foreign countries as well.
- They will focus on building their online platform stronger. As the company wants to generate a good number of customers from their website.
- The company wants to minimize their costs.
- Voylla also wants to focus on its exclusive range of jewellery for men.