New Delhi: There is a one-of-a-kind luxury multi-designer outlet that helps in the liquidation of excess inventory of premium Indian designers. Warehouse by Mudita, has partnered with some of India’s best designers, in a unique business model which brings to customers quality merchandise at fabulous prices.
Pre-Covid times, they did pop-ups and exhibits every 6 months. Post covid, their website goes live for 24 hours, when designer inventory is on an irresistible sale.
Warehouse is the brainchild of Mudita Jaipuria, who spent the last 16 years within the fashion and luxury industry and has a multitude of experiences from across the globe. Armed with an Honours Degree in Fashion Design Technology from Pearl Academy, Mudita started her career as an intern with Rohit Gandhi and Rahul Khanna for their designing & merchandising division. She then interned with Namrata Joshipuria and later with the buying house-Li&Fung. At that time, the Indian fashion industry didn’t have separate merchandising divisions. Mudita then went on to establish those separate divisions when she worked with her clients in a PR company.
Mudita Jaipuria, speaks with IANSlife about her unique property and its relevance to the fashion industry today:
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You have partnered with some of the biggest designers in the country enabling them to expand their target audience, what comes with the turf?
Mudita: Working with big designers and expanding their customer base comes with a variety of responsibilities. This includes making sure that the products and services offered are of the highest quality, understanding customer needs and preferences, and providing excellent customer service. Additionally, it may involve building relationships with vendors and suppliers, marketing and advertising products, managing inventory, and staying up to date with industry trends.
The turf is constantly riddled with challenges but it’s the need and drive to persevere and improvise at every step of the way that keeps us going. The ‘aspiring’ customer base is a huge encouragement for us. Indian weddings are a huge market, not just for the couple but their friends and family. A wardrobe must comprise of classics, but it also have trending elements as well. In order to have a fun vibrant wardrode, buying on discount gives that added joy and lets you have fun as their isn’t that added pressure as well!
Many designers foraying into pret or mid-segment labels within their own brand, do you see this as a wise step or does it eat into their brand value?
Mudita: Not at all! On the contrary it expands markets and broadens horizons for the brand. Having said that, the decision of whether or not to move into pret or mass selling labels within an existing brand depends largely on the individual designer’s goals and objectives. By going pret effectively and efficiently, the brand is able to attract a new consumer. Once a consumer gets a taste of luxury it’s not easy to then revert to high street or lower. It also helps in opening up a designer’s reach to a larger audience and provide an opportunity to increase revenue and profits.
You have spent 16 years in the luxury and fashion industry, besides yours there is no other platform which liquidates excess inventory of luxury fashion… do you believe you have first mover advantage and why do you feel you still have a monopoly?
Mudita: Yes, I believe we have a first mover advantage, but along with that we have also worked very very hard to be where we are today. Despite the fact that we have been in the luxury and fashion industry for 16 years, never have we taken our relationship or goodwill for granted. We have been able to leverage our knowledge and experience to create a unique platform which a sales aggregator for luxury fashion & lifestyle at large. This platform had become popular due to its convenience and low cost and continues to be so. But over time we have also diversified in launching and marketing ‘fresh off the runway’ collections as well. As a result, we have been able to capture a large market share and build a strong brand loyalty.
After all these years, we still have a monopoly because we at Warehouse have always valued our relationships above all other metrics. We work very hard towards each collaboration, giving it our blood, sweat and tears. We have a unique business model, a strong customer base, and a successful track record that other competitors cannot match. This has only been possible because of our sheer grit, perseverance & quality control.
Why does it make sense for fashion addicts to shop on your platform?
Mudita: We at Warehouse have 2 platforms – Warehouse by Mudita & www.warehousebymudita.com. Shopping on both makes sense because we offer a variety of high-quality and on trend options that are perfect for any occasion. Everything is heavily curated and via the website we also offer competitive prices and the ability to shop from the comfort of your own home through. Plus, our platform is regularly updated with new arrivals and trends, giving fashion addicts the opportunity to stay on top of the latest styles.
Do you believe that shopping from your platform, especially for the wedding season, makes financial sense as opposed to buying the latest offerings from designers?
Mudita: Yes, absolutely! Shopping from our platform is an excellent way to save money while still getting the latest fashion trends. We offer a wide selection of designer- apparel and accessories that look just as stunning as something from the new collections as well, but at a much lower price point. This allows you to get the look you want without breaking the bank. With the wedding season upon us, it is an ideal time to take advantage of our amazing deals and stock up on the perfect looks for your special day.
Also, along with the Bride and Groom, our target market comprises of the wedding attenders, the family and friends and the guests attending the wedding. ‘I have enough clothes’ – said no woman ever! Jokes apart, everyone loves to look good, scratch that everyone deserves to look good! Fashion is the art you wear and how you express yourself. If you can do that, while spending lesser�.isn’t it a win – win?
There are now plenty of fashion rental companies, why haven’t you thought of venturing into this space?
Mudita: There are a few reasons why I have not yet thought of venturing into the fashion rental space. Firstly, personally my wardrobe comprises of collectibles, whether its bought on discount or fresh off the runway, each of these pieces have been carefully chosen by me because they make me happy. Also, with a busy schedule I don’t know what I’m wearing 30 minutes before I head out! Most of clients lead a similar lifestyle, which is why I’m not attracted to rental.
Additionally, I would need to develop a strong understanding of the industry, including the legal and financial aspects, which I am not yet familiar with. Furthermore, I would need to develop a reliable source of inventory and a trusted customer base, which would require time and effort to acquire. Bottomline, it’s not something that appeals to me. I’m not comfortable sharing what’s mine.
IANS
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