Online brand merchandising store Bluegape.com has raised an undisclosed amount funding as convertible notes in a seed round from Aniket Khera and Rahul Bhatia from Willow Investment Management LLC and an undisclosed entrepreneur. A part of the funds raised will be used as minimum guarantee to secure the rights to merchandise for Yash Raj films, Honda, Tata Nano, Samsung India, Polaris, among others in the next one month. The rest will be used to improve their inventory and warehousing management system. The company had previously raised Rs 10 lakhs from Times Internet’s* TLabs and were also a part of their incubator.
Speaking to Medianama, Sahil Baghla, Co-Founder, Bluegape.com said that the company plans to raise its Series A round in next six months itself and would use the funds to bring on board international brands. He also said that the Series A round would provide them with a higher minimum guarantee required to procure the merchandising rights of Hollywood films and Valley games, among others.
The company pays a royalty fee of 10% to the brands and makes a margin of 50-60% on each product sold on their website with their logistics being handled by courier companies like Blue Dart, DTDC, Trackon and Quantium, added Baghla. The website allows customers to shop by fan store, products, events listed or buy customized products including laptop skin, mugs, t-shirts, among others.
Started in August 2011 by Sahil Baghla and Ayush Varshney, Bluegape.com claims to offer products of 32 brands including Facebook fan pages, small websites, big brands. It claims that it has 5,00,000 registered users and gets about 150-200 orders every day. Some of the brands that they offer include Brand69, One97, Wireless Duniya, IIT Tips, Nirvana, Led Zeppelin, among others. They primarily receive referral traffic to their website from the brands that they sell, added Baghla.
In December 2012, The Hatch had invested in Postergully, an online store for posters, art prints, key−chains, stickers, and badges of bands, brands, schools & colleges, among others. Allthingscustomized, Carmocrat and Posterduniya are some of the other players in this segment.
*Disclosure: Times Internet is an advertiser with MediaNama