This Indian lingerie brand uses big data to make better bras!
The Indian lingerie industry is rapidly evolving and is currently valued at Rs 18,000 crores. It is also expected to grow between 17-26% CAGR in the coming years and with women shedding off their inhibitions and keen to try bolder colours, material and designs instead of the usual black and white bras means one thing-
But how do the brands know what a girl wants? Two year old premier lingerie brand
The company has started using
Elaborating on the process, Vermani says, “Clovia stands for an amalgamation of fashion and technology and through this, we’re trying to stick to those very beliefs. Traditionally, brands have already made a decision regarding what customers want to wear, irrespective of whether it is right or wrong. We intend to change that.”
The idea is to let the proprietary technology engine analyse the speed at which the products are selling and the customer’s feedback on the products. Based on the interest from the customer, which is indicated via selling patterns and the feedback from the consumer, the system decides which design or style needs to be replenished and which should be discarded, he adds.
“The Clovia Design team spawns multiple styles of bras, briefs and night wears in the market in small quantities, sometimes almost 1/10th of the industry’s standard for minimum quantities. Once put to sale, the technology team takes over and manages the entire decision-making from there on. I lead and look after the whole process to ensure it works out seamlessly,” Vermani (in picture above) tells us.
On being asked what prompted this move, he shares that it was the common problem faced by everyone- find that a product you like is either sold out or not available in your size. “These glitches hamper the consumer’s shopping experience and as a brand, we aim to minimize all these obstacles. Apart from this, we’re also keeping an eye on generating insights based on historical data regarding seasons, geographical preferences of customers and even times of day!
“There is no better way to increase your target audience than by understanding them,” Vermani claims.
He adds that due to utilizing this technology, Clovia is maintaining one of the most efficient inventories, reducing operational costs and increasing profit margins.
“Thanks to better management and opportunity speculations, the production has gone up to 5 lakh units per month and we are now selling internationally as well and most of the inventory is usually under 30-45 days! That’s phenomenal in an industry plagued by unsold stocks and constant liquidations eating into profit margins.”
To conclude, Vermani quips, “India is at a cusp of an innerwear revolution, and Clovia is right in the middle of it – ready to welcome a brave new world!”
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