Limeroad is a fashion and lifestyle E-Commerce launched in October 2012 by Suchi Mukherjee. It is a social shopping platform for women that offers a wide range of products right from clothing to accessories, shoes, beauty products etc.
In 2012 Limeroad started women only website but expanded in Menswear throughout the journey, lifestyle and home decor categories in last five years.
Founder of LimeRoad
Limeroad was founded by Suchi Mukherjee in 2012. Suchi is a graduate in economics and completed her masters in Economics and Finance from London School of Economics.
Suchi worked in many multinational companies like Lehman Brother, Virgin Media, eBay, and Gumtree.
She conceived the idea of LimeRoad when she was 39 and on maternity leave. One day As she flipping through the pages of this beautiful magazine. she found a piece of jewelry and really liked it.
Suchi wanted to buy it but there was no consumer technology that made the discovery of lovely products easy. That’s how the idea of Limeroad came along.
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How Limeroad is different than others:
LimeRoad works on a simple premise. It allows you to create your own look – on a virtual scrapbook – using products from thousands of small vendors on its site.
And share it with others. If you’re not the creative type, you want to buy a look created by someone else. You can also find styles by subscribing to LimeRoad feed or follow people whose fashion you like.
This unique model works for everyone, the creator of the look gets a kick out of showing off her creativity. She get reward points and buyers get full fashion package at one place.
This uniqueness of Limeroad is what makes it stand out from its competitors like Jabong, myntra and Voonik. People love to browse, mix and match even without buying, and want to come back to do so again and again.
Business Model of Limeroad
Limeroads works on a same model as most e-commerce websites are working.They make money through vendors i.e. commission revenue (% of sales).they do not commit working capital to hold/block inventory.
Hence, they started off by focusing on building an amazing product. Lime road charges commission between 5 to 15 percent of each sale made through website or mobile application.
LimeRoad is one of the very few profitable startups in India.LimeRoad is going to continue on the same model. LimeRoad is for sure, one of the few sensible business models in the current scenario.
In the last one year, the marketing spends has remained flat but the efficiency has improved by 70%.
Achievements:
Suchi Mukherjee the founder and CEO of Limeroad has become the face of e-commerce in India. She shared the stage with Prime Minister Narendra Modi at The Start up India – Stand up India conference held last year.
Not only that she has also signed a MoU with the government of Madhya Pradesh to give local handicrafts a national presence and has been continuously focusing on the fundamentals of perfecting the existing business model of Limeroad.
Marketing Strategies of Limeroad:
Limeroads focus has been on organic community driven through scrapbooks, vendors and social platforms. Limeroad does not spend heavy on Tv commercials or hiring big Bollywood stars. On the other hand Limeroad engage with their audience through social media.
They have big social media army with more than 21 lakh fans on Facebook and more than 8 thousand followers on Twitter.A huge credit of its growth and popularity among women goes to its strategies it has adopted on to market on social media.
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