Business Description:"Inkfruit is an online destination for artists and t-shirt lovers where users can design, buy and vote for funky tees. Designers upload their creations, interact with fellow designers, learn from the votes and comments that their designs receive and aspire to win in the t-shirt design competition. T-shirt lovers select and vote for stunning t-shirt designs and buy some great t-shirts for themselves and others.
The business is scalable with two possible avenues of expansion:
-online expansion in the merchandise range
-offline expansion by selling merchandise through stand alone stores
The greatest strength of the model is in its strong viral potential, if its growth in the last 2-3 months is any indication."
Industry:IT/ Internet/ Software
Founded in:2007
Source of idea:Systematic search for business opportunity
Significant Competitors:Tantra, Lee, USI, Myntra, other offline and online t-shirt, merchandise and accessory providers. These businesses are identified as competitors only because of the end product offering targeting the same share of wallet for the customer. The offering is significantly different and would appeal to the customer for very different reasons.
Company Details :
Company Name:Inkfruit
HeadQuarters:Mumbai
Stage of the company:Have first customer
No of Employees (2006):0-5
No of Employees (2007):6-15
Office Locations(2006):0-1
Office Locations(2007):2-5
No of companies promoted:No
Profits (2006):
Profits (2007):
>Partnerships:
Initial Funding:Personal savings
Addl Funding:Angel investors
Institutitional Capital:No
Revneue Model:The business plans to make money through sale of merchandise. While it has started with the product category consisting of T-shirts, the model lends itself to expansion across categories such as sweatshirts, hoodies, bags, accessories, posters, bumper stickers, etc. Such extensions will be explored shortly.
T-shirt buyers pay us using a credit card, bank transfer, mobile payment or ITZ Cash Cards. In addition to this we also accept payments through Cash on Delivery. We are paid a flat payment based on the price of the products purchased by the buyer. Shortly we plan to offer a unique annual t-shirt subscription, where a customer can buy an entire year's supply of the most amazing t-shirts - these will be delivered to him as one t-shirt every month.
Awards & honors:Selected for TiE Mumbai ENP Program
Promoters Details :
Promoters Name(s):Kashyap Dalal
Age:27
HomeTown:Mumbai
Education:Masters
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Manager at Unilever India
Ex-Job Description:Sales & Marketing
Favorite Book/Movie:Atlas Shrugged , The Wheel Of Time , Life is Beautiful
