Though Flipkart has tightened its grip on the fashion e-commerce ecosystem with the acquisition of Myntra and Jabong, but it only gives the company breadth and no technological providence. Voonik, on the other hand, has been on an acquisition spree to build out exclusive features to help you make a logical decision before completing a purchase.
And following along the same pattern, the fashion shopping portal has today announced the completion of yet another acquisition. Voonik has acquired fashion discovery platform Dekkoh to rapidly expand and strengthen its personalisation platform. This is the company’s sixth acquisition this year. No financial details regarding the transaction have been dispensed by either parties.
Commenting on the addition of yet another member to the Voonik fashion family, Voonik CEO and co-founder Sujayath Ali says,
Voonik is built around personalised fashion, to provide every customer a solution and opportunity to be fashionable every day. Personalisation is what has set us miles ahead of competition.
Dekkoh platform is doing the same through an engaged community of stylists and a highly data driven profiling and chatbots. We will use their expertise in further strengthening our personalization engine. There is a great synergy between the Voonik and Dekkoh platforms and we are happy to onboard a talented team.
Dekkoh was founded by Aditya Chalasani, ex-Oracle, University of Southern California graduate and NLSIU Bangalore alumni Varun Mathew in May 2015. The app, available both on Android and iOS, allows users to chat one-on-one with their own personal stylist who helps them understand their fashion sense. They then suggest clothing and accessories options that will suit them. It connects the stylist community of more than 200 stylists with consumers and also has a rule-based chatbot that helps people personalise their wardrobe.
We believe personalisation is the future of online fashion. Voonik is the ideal platform that will help us scale up our offering to 15 million customers across the country
adds Aditya Chalasani, Co-founder of Dekkho.
The Sequoia-backed fashion portal Voonik has recently been seeing tremendous growth and expects to achieve profitability soon, with 10-15% monthly growth going forward. It is also estimating a sales revenues of $250 million by the end of this fiscal. With over 12 million registered users, and 10 million app downloads, Voonik has a an annual GMV rate of over $100 million.
Fueled by a fairly recent $20 million Series B investment from existing investors — Sequoia Capital and Seedfund, it has been on an acquisition spree. It has also added another $3 billion to its coffers in the form of venture debt financing received from InnoVen Capital.
Starting with a ‘three-of-a-kind’ acquisition, Voonik acquired Zohraa, Picksilk, and Styl, in order to build its premium fashion product Vilara. In February this year, the company acqui-hired menswear focused fashion portal Getsy. Last year it acqui-hired TrialKart to offer virtual dressing room experience to its users for an undisclosed amount.