U.S based athletic apparel and accessories company, Yoga Smoga has raised Rs 5 crore from Mumbai Angels and a group of unnamed US based angels, reports Economic Times. Its currently not clear where the company plans to use the funds raised.
Started by Rishi Bali in 2010, Yoga Smoga designs, manufactures and sells eco-friendly athletic wear for women with free delivery anywhere in the U.S. These include pants, top, footwear, yoga mat, towel and bracelets among others. The company website also suggests that it is currently in the process of developing a men’s line.
The site offers International shipping although it notes that buyers will have to pay a shipping fee of $35 along with export taxes and duties of their respective countries. The company claims to deliver products within USA in 2-3 days while International shipments are done within 6-10 working days. It also plans to launch physical stores in the United States soon.
In a bid to incentivize purchases, the online store also seems to have a loyalty program where buyers can accumulate, what they call as SMOGI bucks when they shop at the online store or refer their friends to the store who ends up purchasing apparel from the site. These SMOGI bucks can be later redeemed to get discounts on future purchases.
Competition: Indian players that sell sports wear online are Decathalon, Adventure18, and Mahesh Bhupathi-backed Sports365.in among others. E-commerce stores like Flipkart, Infibeam, Myntra and Jabong also sell sports wear along with other products.
Earlier this year, SportsNest.com, an e-commerce venture offering sports goods, accessories, fitness products and games, had merged with its competitor, PlayGroundOnline.com, with the new entity raising a round of undisclosed funding from Blume Ventures. E-commerce venture Snapdeal had also acquired Esportsbuy.com for an undisclosed amount in April 2012 and shut it down two months after the acquisition.