HopScotch is an online marketplace for kids wear, accessories and toys. The company was founded by Rahul Anand and Lisa Kennedy in 2011. Hopscotch is a curated store featuring a variety of international and local branded merchandise for kids, moms, and home. The company is headquartered in Mumbai and ship world-class quality products all over India.
Founders of HopScotch:
Hopscotch is founded by Rahul Anand and Lisa Kennedy. Both of them are Harvard Business School Alumni. Both Lisa and Rahul has worked for US-based Diaper.com which was later acquired by Amazon in 2011.
Lisa was responsible for building the front end functions, including Marketing, Merchandising and Product Management. While Rahul has experience in building strategic capabilities on the front-end business. He was responsible for on-site algorithm development to maximize profit and order size, analytics, and inventory management.
The company has hosted 3 round of funding so far. HopScotch raised around 11 million Dollars from in Series B round of funding held in January 2015 and raised 13 million Dollars in Series C round led by Facebook co-founder Eduardo Saverin.
HopScotch Business Model:
Hopscotch works on the pre-order model. Pre-order allow customers to place an order on Hopscotch.in for products not in inventory. Hopscotch then consolidate the sales and import or source the items. In a flash business, the sale events have limited inventory and are offered for a limited time.People tend to shop more frequently and also add more items to their cart in a single order in Flash Sale because of the fear of losing out.
HopScotch is partnered with many international and national brands to showcase their products on the platform. HopScotch apparel includes well known and loved International brands like Carter’s, OshKosh B’Gosh, Juicy Couture Baby, Ralph Lauren Kids, and Tickles 4 U etc. The company has two warehouses in Mumbai for order fulfillment and manage its logistics through third-party logistics companies in India.
HopScotch Revenue Model:
Company’s revenue model is similar to the most of the e-commerce businesses. Hopscotch charges 35% commission on each transaction that takes place on the platform. This amount is charged against the marketing and marketplace provided by the company.
For Example, if a product is sold at 100 Rupees. Hopscotch will keep 35 rupees from the amount and transfer remaining 65 Rupees to the seller’s account.
HopScotch acquired an online school supplies retailer named SkoolShop. SkoolShop operated in both the B2B and B2C domain.
The online retail market is estimated to be around 10 billion dollars in India. where Hopscotch faces tough competition from FirstCry and BabyOye owned by Mahindra group. After the merger of FirstCry and BabyOye last year the scale of Mahindra group has gone sky high in both online and offline market.