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Updated: BeStylish Pivots: Launches Marketplace To Focus On Offline Retailers; Abhishek Lal Is New CEO

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Update: BeStylish co-founder and CEO Shailen Amin has quit the company to pursue new entrepreneurial opportunities, reports TechCircle, adding that Amin quit the company few months ago.

The company has now appointed other BeStylish co-founder Abhishek Lal as its CEO. Prior to this appointment, Lal was the director of merchandise at BeStylish.

Earlier (Jul 10): Smile Group’s online footwear store BeStylish has pivoted to a marketplace model from an inventory based model, reports TechCircle.

BeStylish co-founder Abhishek Lal told the publication that the pivot happened in May 2013 and the company now sources products directly from offline merchants to sell on the site, with no inventory of its own. Interestingly, Lal says that the company will be focusing only on lesser known brands in the future, as compared to its brand-focused avatar earlier.

However, its not clear as to when the company plans to offer these products on its website. At the time of writing this article, we noticed that BeStylish still offers branded products on its website, although several items are out of stock or is available in limited stock. We have contacted Smile Group founder Harish Behl for more details on this development, but he was unavailable for comment at the time of writing this article.

Facilitator For Offline Brands: Besides the marketplace, the company is also apparently supplying products to online e-commerce ventures and marketplaces like eBay, Naaptol, and Tradus among others, thereby acting as a platform between merchants and these e-commerce ventures, as indicated by the report.  Lal told to the publication this model currently contributes to 35% of the company’s revenues, but hopes that this model will contribute for the majority of BeStylish’s revenues by the end of 2013.

So it looks like BeStylish is looking to bring onboard lesser known offline brands and retailers and becoming a facilitator for their online sales, however we are a bit curious on how does BeStylish plans to scale this model, considering that these retailers can later directly sign up at these marketplaces to offer their products to consumers.

Launched in May 2011, BeStylish had raised investment from the Russian venture firm ru-Net Holdings in July 2012 and the European VC firm Mangrove Capital Partners in June 2011.

Prior to the pivot, the company offered various products like women’s and men’s shoes, sandals, sneakers and slippers among others as well as kids sneakers and sandals among others. It had claimed to offer 5000 footwear styles across more than 100 brands including Adidas, Aria, Nike, Puma, Woodland, and Reebok among others. Besides this, it also offered accessories like socks, bags, belts and wallets among others.

RelatedeBay India Brings Physical Retailers To Expand Lifestyle Offerings; 4M Monthly Unique Visitors

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