Fashionara a fashion etailer platform
Fashionara a Bangalore based fashion etailer has shut down its operations. Since last week its website is not working and no update on social media excepts from the automated scheduled tweets.
The startup was founded in 2012 by Arun Sirdeshmukh former CEO of Reliance Trends and Darpan Munjal former chief technology officer at Times Internet Ltd.
Darpan Munjal has left the company in January 2016. He is currently operating in Squadhelp.com a crowdsourcing platform helping startup.
Fashionara had raised over $4 million in Series A round and it was backed by Helion Venture Partners and Lightspeed Venture Partners. In 2014 it also raised $7-8 million and shifted from pure-play fashion portal to a marketplace model.
In the financial year 2014-15, its net sales jumped five fold to Rs 32.86 cr, but its net loss widened from Rs 21.11 Cr to Rs 32.13 cr in 2013-14. Its Bangalore warehouse facility was 25,000 sq ft from where it use to ship out the products to cities like Hyderabad, Delhi, Pune and Mumbai.
Fashionara initially focused on categories such as footwear, accessories and apparel. In 2014 F.Lea Bazaar was introduced which helped the sellers to retail their products on its portal.
In 2015, the startup launched its Android app with the flash sale model, which implied for sale events where limited number of products are available at discounts for limited period. Brands available on Fashionara includes Von Dutch, Red Tape, Biba, Twillory, Clarks, Levis, Puma, Nike and many more.
With the launch of 46 brands, 7 New categories with 7500 products, it entered into home furnishing market, along with Snapdeal and Flipkart. Its competitors are Snapdeal, Koovs, Myntra, Flipkart, Jabong etc.