Update On :12 May 2016
A project to tap the growing digital influence of fashion shoppers in India - Nnnow is ready to be unveiled by the Executive Director of Arvind Ltd Kulin Lalbhai. It is first big move done by him to reshape fashion empire of Arvind. He relocated to Bengaluru last year from Ahmedabad to kick-start the venture and says Nnnow is not a dot-com, but an omni-channel engine which will try and bring together the online and offline worlds.
Kulin said in an interview that he know omni-channel is an oft-repeated term. It's confused with multi-channel sales. What we are doing is simply Arvind's biggest wager in the last few decades. Arvind Internet, which owns Nnnow, has built a team of 200 people, including a 70-member tech team. It is likely to lose money for a while but the vertical will play a significant role in boosting revenues for the group's fashion retail unit.
Nnnow will connect digital shoppers to every piece of merchandise from Arvind's warehouses, 50-odd brands and a network of more than 1,200 stores across 200 Indian cities. It will be one of the most comprehensive merchandise offerings online even as our offline stores will see a spike in productivity as they get digitized. The future of our stores is no longer just a sales medium. It's an endless aisle.
J Suresh, CEO, Arvind Lifestyle Brands said that offline stores lose as much as 15% sales due to stock-outs as the digital consumption is driving looks-based shopping. Nnnow will offer same-day delivery, click-and-collect (store pick-ups) facilities while the mobile app for the portal will be rolled out in July. Lalbhai said the venture will look to add consumer analytics and intelligence to the customer's shopping experiences. He added that merchandise availability is becoming crucial. Nnnow is adding 8-10% to the annualized revenue of Arvind Lifestyle Brands.
News Source From : http://timesofindia.indiatimes.com/business/india-business/Arvind-to-take-on-e-tailers-with-Nnnow/articleshow/52230666.cms
Image Courtesy : http://www.livemint.com/rf/Image-621x414/LiveMint/Period1/2014/06/11/Photos/Kulin%20Lalbhai--621x414.jpg