Infibeam has met with great success in achieving its position among the top few online retailers in India within a very short period. This evaluation is based on its earnings from sales and number of transactions.
Further it has achieved its ranking among top few online retailers in various types of products like books, mobile phones, consumer electronics, home appliances and lifestyle products. It has set up six warehouses across the country.
It has successfully launched its own brand of e-book reader. It’s highly innovative initiative for empowering entrepreneurs through “Build-a-Bazar” has turned out to be immensely popular.
Success Story of Vishal Mehta’s Infibeam
Infibeam History And Background
Infibeam was set up by Vishal Mehta in 2007 at Ahmedabad. Mehta had his education at Cornell University and Massachusetts Institute of Technology in the US.
Before returning to India to set up Infibeam, he was working for the e-commerce giant Amazon.com in US. He utilized his valuable work experience at Amazon to run a successful establishment of similar enterprise in India – Infibeam.com.
He was so passionate about his venture that he decided to sell several of his personal assets including his own home to finance his new online retail business. This approach is considerably different from other e-commerce ventures which resorted to external funding. Even today, entire investment in Infibeam is by Mehta, his families and friends.
Various Milestones In The Rapid Growth Of Infibeam
- Right from beginning, Infibeam adopted strategy of selling wide range of products covering books, electronics, and articles related to home and life style. Another parallel strategy followed was renting out its platform to various other brands and entrepreneurs.
- Own brand of e-book readers similar to Amazon’s and Barnes & Nobles were launched.
- In order to give better customer service Infibeam launched its own delivery network – Infibeam Logistics. After development of Infibeam Logistics, the company intends to rent out its technology backbone to small and medium courier companies.
- Opening up of online retail to other entrepreneurs is a very big leap forward. This enables them to sell online under their own brand name. This is a great step in the right direction in empowering intermediaries. Mehta named this scheme “Build-a-Bazaar” at the time of launching it in May 2011. This highly innovative scheme became immediately very popular and more than 4,800 brands and entrepreneurs have joined the scheme. By this the entrepreneurs will be able to build their own online business utilizing the Infibeam platform. This is a real win-win deal for all concerned.
- They have set up warehouses along with Infibeam Logistics in six cities including Ahmedabad, Mumbai, Kolkata, Chennai, Delhi and Bangalore. They intend to cover many more cities in the near future. With this set up, they will be able to achieve faster delivery and better customer satisfaction. Because of the high growth of business, the number of workers in the warehouses has reached a few hundreds.
Brighter Future Ahead
The management at Infibeam is highly skillful and they have a systematic approach to every problem. They are more focused on development of better infrastructure to win and retain customers.
They frequently launch striking deals and Infibeam coupons to attract new customers. They are very careful in recruitment to ensure that they have the best employees. They have not disclosed their sales figures during the last financial year but it is supposed to be around Rs. 500 crores.
There is no doubt that this venture will be highly successful because of its sharp focus on its customers.