Fri Nov 10 2023
2 min read
Odette, a fashion wear brand for women, has announced that it has recorded a 5X growth in revenue. Founded by Mamta Roy in 2020 in the middle of the global pandemic, Odette started as a small home-operated business, has now evolved into a hi-fashion haven, offering a unique blend of Victorian-inspired designs delivered directly to the doorsteps of fashion enthusiasts. The B2C plus D2C model not only facilitated deeper market penetration but also established a strong connection with customers.
With a robust financial performance, Odette has experienced a remarkable 5x growth from inception to date. Mamta Roy expresses optimism about the future, stating, "We are expecting a great FY23 closing and are gearing up for even greater innings in 2024 with an expected growth of 25% in revenues from FY23 to FY24."
The upward trajectory of Odette can be attributed to strategic decisions, such as timely category expansions, weekly marketing strategy improvements, and a proactive approach to addressing challenges. Leveraging social media, marketplace presence, and customer-centric practices have played pivotal roles in charting Odette's success.
Mamta Roy highlights Odette's dedication to customer satisfaction, with a return rate now stabilised at 12%. The brand proactively engages with customers, offering tailored solutions that extend beyond mere transactions, thereby fostering lasting relationships.
Recognizing the importance of a 360-degree presence in the era of diverse marketing channels, Odette has successfully harnessed the power of online retail, email, WhatsApp marketing, and social media. The brand's D2C site emerges as the primary revenue generator, emphasising the success of its direct-to-consumer approach.
Furthermore, Klub, Odette's financial growth partner, has played a crucial role in the brand's success, providing equity-free funding through 5 rounds of Revenue Based Financing, enabling stress-free operations for the brand’s growth. Anurakt Jain, co-founder and CEO at Klub said, "Odette has truly emerged as a pioneer in the realm of women's fashion, reshaping the industry with its commitment to providing a comprehensive 360-degree solution to the diverse fashion needs of Indian women. At Klub, we are thrilled to be Odette's growth partner on this transformative journey and look forward to continuing our exciting partnership."
Looking ahead, Odette aims to solidify its presence in Western Wear, Lingerie, and other existing categories while venturing into new realms. Mamta Roy shares, "Our vision is to make Odette a one-stop-shop for women across India," highlighting the brand's ambitious expansion plans and focus on nationwide reach through franchisee programs in 2024. Currently the brand caters to close to 1,25,000 pin codes across India from its Bangalore warehouse, keeping the branding and quality check in place. With the increase in the demand of Indian accessories and clothing, Odette is looking to expand in the USA, Europe and UAE in 2023.