Slikk, a startup that targets GenZ customers, has recently secured $300,000 in pre-seed funding to grow a new 60-minute clothes delivery model. Better Capital managed the funding process, while Untitledxyz Ventures was also a contributor. These sources of funds will allow Slikk to grow its business, diversify its collaborations, and strengthen its logistics network.
Vision of Slikk
Slikk founded by Akshay Gulati is the new fashion e-tailer, with the vision to bring a revolution in the fashion retail industry through the internet, delivering fashion to the consumer’s doorstep within an hour. The selling point for the startup is that it sends new items every day, so the user is always able to think of fashion as an ever-changing wardrobe, which frequently can be shopped for. This model has a particular appeal to GenZ consumers, who are young people with limited time who seek convenience and are in tune with fashion trends.
Fund Usage and Market Demand
The funds raised $300,000 will be used effectively in growing the company’s operations in many areas of operations. Slikk plans to work with over 100 brands with versatile clothing options for users. Establish a Large-Format Dark Store facility which will mainly be responsible for handling inventory and order fulfillment. The delivery service is currently concentrated in Bangalore, but Slikk aims to have 70% of the pin codes of this city, and further extend to other metropolitan cities of India.
The prospects of the Indian apparel market are looking good and it is projected that within the next couple of years, it is going to touch $105.50 billion by 2024. In this market, the fast fashion segment is estimated to grow from $9.90 billion in 2023 to $28.84 billion by 2030. Slikk’s approach to delivering these products is also in the swift delivery model which will serve as an advantage in light of this growth in the market to realize swift and convenient access to the latest fashion items.
Seamless User Experience
Slikk’s vision lies far and beyond and the company would like to expand more to things such as beauty accessories and home decorations. Such diversification strengthens the value proposition for its end-users and drives additional revenue streams for the firm. Slikk uses modern technology to maximize the usability of the site for its users. The platform has an order tracking feature, which provides users with an updated status of their order from the time of preparation to delivery. Slikk’s app is easy to navigate, and the customized feeds will be formed to meet the interests of the users.
Conclusion
Slikk has recently closed a $300,000 funding round, which means it is on track to change how fashion delivery works. Looking at the strategic management aspects in terms of vision, funds, and investors, Slikk has all the necessary tools to reshape the market for many years to come. Given the fact that the company is on the expansionist path to becoming a management holding while widening its product portfolio, one can expect that it will remain committed to offering an unparalleled level of convenience and stylish outfits to the target consumers across the length and breadth of India.
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