When Aashray & Ashish, the brains behind the brand, moved back to India from the US, they realized there was a major gap in the market for quality apparel at an affordable price. Online marketplaces offered low quality and the big brands offered quality but at a very high price. They realised that the big brands have a mark up of 7 to 10 times the price it cost to make the garments, which seemed utterly ridiculous.
This lead to their quest to find market efficiencies and figure out how cost can be saved in the production cycle while trying to be vertically integrated at every stage possible. This was to ensure that the costs are not transferred to the customers.
“64 % of its population in the working age group by 2020 & and online fashion retail to touch $35 billion”
Furthermore, projected statistics such as India becoming the world’s youngest country with 64 percent of its population in the working age group by 2020 and online fashion retail to touch $35 billion played a big role in being a factor why targeting this particular segment was lucrative.
Also, Ashish’s experience at Amazon clubbed with Aashray’s experience in manufacturing and distribution at William Sanoma Inc. made them the perfect team to take on the challenge.
Founded in November 2015, PostFold is a contemporary clothing brand that effortlessly transitions from desk to dinner and everything in between. The brand exemplifies minimal effort contrasted with the perfect balance of quality and design.
Built on principles of radical transparency, versatility, and subtle sophistication, PostFold showcases a classic yet understated elegance. Through tailored design techniques crafted in luxury quality fabric, the brand unfolds across a selection of easy essentials including shirts, blouses, polo’s, knit tops and shrugs for both sexes.
|Launch Date||November, 2015|
|Product||Online retail store for AM to PM premium clothing|
|Headquaters (City)||Gurgaon, Haryana|
|Founders Name||Aashray Thatai & Ashish Gurnani|
|Number of employees||15 – 20|
Eliminating Costs Of Middlemen & Sampling
As per founders, brand provides extremely high quality apparel at affordable prices. Its keep all the aspects of the product development cycle in house until the actual production to eliminate costs of middle men and sampling. This gives flexibility in designing and sourcing. All of the sourcing is done in-house of the highest quality fabrics.
“PostFold is one of the two retailers in India authorised to sell Supima cotton, while marketing to a targeting niche audience focused on mood-based clothing lines such as Sunday brunch, Saturday night and traveling.” –Aashray, The founder, PostFold
PostFold is one of the two retailers in India authorised to sell Supima cotton, while marketing to a targeting niche audience focused on mood-based clothing lines such as Sunday brunch, Saturday night and traveling. A customer can expect the following from the brand:
High Quality– The brand aims to provide the best quality of fabrics to its customers for which sourcing is done in-house to ensure the best. It’s one of the only two retailers to be selling Supima in India.
Honestly Priced- Customers can be sure that when they buy anything from PostFold they are paying for the ethical manufacturing and best quality of fabrics at the best possible prices.
Transparency- They are extremely transparent both internally and externally as an organization. They are happy to invite any customer to come visit them and their factory in Gurgaon.
Challenges & Opportunities
e-commerce industry categorically, is expanding steadily in India. India is expected to generate $100 billion online retail revenue by 2020, out of which $35 billion will be through fashion ecommerce. The expansion of e-commerce firms in remote towns of Tier 2 and 3 cities have demanded a wider presence of logistics. However, our economic structure is now GST-ready and the new upcoming brands would not be affected in any way by the new set of rules and regulations as they have never faced the pre-GST phase and the challenges to moving into a new tax system.
Aiming For Seamless Omnichannel Experience
PostFold is a self funded for now, and they are looking into external funding by end of year. PostFold aims to create an omnichannel experience i.e. seamless and effortless, high-quality customer experiences. Eventually, they would like to expand with offline retail opportunities.
Aashray studied Mechanical Engineering from Northeastern University. Post that he moved to Memphis to work at the Williams Sonoma e-commerce distribution center as an Industrial Engineer. Worked at Williams Sonoma INC for two years and got great experience with operations, process improvements and hands on experience with B2C industry. In 2015 he moved to India to start PostFold. He sees PostFold as a brand that is soon synonymous with simplicity, sophistication and subtleness. When not busy with work, Aashray enjoys playing sports like Golf, Lawn Tennis and is a fitness freak.
Ashish Gurnani studied Marketing and Finance in Northeastern University, Boston. Post that moved to Seattle to work at the mecca of e-commerce in Amazon as a Digital Advertising Analyst and worked with companies like John Hancock, EMC and Amazon. He left his high paying job to create ‘PostFold’, a brand that he hopes is looked up to for its culture, honesty and style. Out of work he’s a big foodie who enjoys trying different types of food from all over the world, travelling and experiencing new cultures and swimming on Sundays.
Founders Advice to Budding Online Startups
“We will always be a digital first brand though, advise is to be persistent and learn from every experience.” –Ashish, The Founder, PostFold