It is an important milestone for us all, to have survived the 5 year tenure. It was all possible due to the faith and support of our staffs, suppliers and most importantly the customers.
It is quite true that most startups don’t even last 3 years. We have seen lot of new entrants into ethnic clothing who were well funded, well connected, with a bigger brand name and with a strong management team – but failed. If they had all the guaranteed recipes for success, then why didn’t they survive?
Every month we see 100+ new ethnic websites launching, while 40+ closing their doors. Some of them home-based, while most of them backed by angel/venture capitalists.
Probably one of the reasons we didn’t crash out would be that we started this endeavor with our personal savings, 14+ hours daily hard work and a never ending passion to work with the Indian Ethnic Textile Industry. We were starving for funds, so being humble was the only option out.
But the most important breakthrough came in 2013 (2 years after we were founded), when we realized that everyone who steps into this industry sees the charm, the glamour and the opportunity and tries to grab their pie. They feel they can do it alone with a bigger website, a deeper pocket and with a fabulous customer care support. The truth is – Indian ethnic clothing is 200+ years old with its roots deep into our family heritage.
The only way to survive is to be together, do the work together and help your brothers and sisters. That’s when we asked our customers and suppliers to join hands together with us & collectively tackle the problem.
The mantra to stay strong and live long is to have good partnerships, just like we have with our customers & suppliers on EthnicSmart.com.
This year, our mission is to ensure our resellers get a steady and consistent income through ethnigo.com. It is an initiative to put a common women’s business on the global map. Our core team will stay focused to find the pattern that will help increase the sales of all the active sellers on ethnigo.com
Slowly but steadily we will “crack the nut” and be able to open the flood gates of fortune to the “average household” in India.
Co-Founder & CEO – Bsync Fashion