Kaftans are slowly becoming popular and coming into trend. You will find them in the wardrobe of every woman out there. The Kaftan Company is a clothing brand which specializes in designing and manufacturing amazing kaftans. The products of the company are available on many leading online fashion stores.
The Kaftan Company - Vision & Mission
The Kaftan Company aspires to be the world’s most recognised brand for kaftans, with an aim to offer customers the best possible product selection, quality, value and excellent service. When anyone is shopping for a kaftan, the company want them to think of The Kaftan Company as their first choice. The mission of the company is to blend tradition and innovation and be a market leader in creating uniquely appealing kaftans.
The Kaftan Company - Founder
The company was founded by Prakruti Gupta Rao. Prakruti did her MBA from Schulich School of Business, Toronto. Later, she worked at Mercedes Benz Financial Services in Canada in the role of Global Project lead.
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The Kaftan Company - Idea and starting up
The Kaftan Company was launched as an entrepreneurial initiative in February 2016. It was a spin-off to their other brand called Shibori Designs which was western wear apparel brand. The idea spawned during a great sell-through. It was identified when 80% of the total sales of Shibori Designs were coming from kaftans. Additional research and due diligence showed us that there wasn't a particular company dedicating their product line to the graceful and comfortable kaftan silhouette. This was when they wished to capitalise and be the first to introduce kaftans for all occasions and very simply "The Kaftan Company" was created. As is the case with any start-up, the initial days required a lot more thought into conceptualising the brand and gaining clarity in the vision of the brand as it continues to grow. Since kaftans are not a widely accepted form of garment, it was a challenge and a scare to go into the market all in. Thus, the team took it slow and entered the market with caution. They provide a vast variety of colours they use in the chosen fabrics and the general free fall of a kaftan identified best with a butterfly, which they later integrated and made it look clearly symbolic with their logo.
The Kaftan Company - Major challenges faced
Initial challenges faced by the company include educating the consumers on the concept of the kaftan. They noticed in their initial days of launch, that as traditional and old as it may be as a garment, the customers still need to see the kaftans in images or try them, particularly in tier II and tier III cities. Customers think they will not look good in a kaftan. But the way the company has designed its kaftans, it looks beautiful and fits well for any shape and size. The challenge was to just convince users to say yes to give it a chance.
The Kaftan Company - The Team
Along with Prakruti, her husband co-operates her by handling all the major operations as the CEO. The company provides employment to more than 45 people. They promote women empowerment with 80% skilled labour being women and all key positions including accounts, administration, designing, merchandising etc. are all managed by women. The business operations and production unit of The Kaftan Company is based out of Hyderabad, India.
The Kaftan Company - Industry details
The textile industry in India is estimated at approximately $108 billion and is expected to grow to $223 billion by 2021. This presently contributes to 5% of the current GDP and 14 percent of the overall index of industrial production. It has the potential to grow further with sales in the domestic market expected to grow from the present $68 billion.
The Kaftan Company- The product/service
The products are basically very well crafted kaftans for women. They make a range for sleepwear, daywear, holiday wear and have recently also introduced “cocktail” wear kaftans. It is very different from other brands because of their in-house digital prints, their extreme care and diligence while stitching, and size range from Small to 3XL. It is nearly impossible for anyone to find such a vast range if kaftans under one brand. Typically, fashion brands may present 1 or 2 kaftans in their portfolio of garments. They chose to differentiate themselves by creating each and every product using the comfortable kaftan silhouette.
The Kaftan Company- Business model
The Kaftan Company uses a 'clicks and bricks' business model to retail their products. Clicks and bricks basically mean being present on both type of platforms, viz., online and offline. Clicks come in the form of their own e-commerce website as well as e-commerce channel partners, both in India and internationally (Myntra, Jabong, etc.) The bricks include multi-brand boutiques across the country and internationally.
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The Kaftan Company Revenue model
Company uses a Mark-Up/Down revenue model in the retail of its kaftans.
The Kaftan Company Awards and recognition
They were recognised as one of the "Young and upcoming Designers" at the Asian Designers Week, 2017.
The Kaftan Company - Technology Stack
There is no specific special technology that the people of The Kaftan Company uses. However, they use the necessary software and other tools for their day to day activities. But for designing, they believe their own talent and uses the least technology to keep the art alive.
The Kaftan Company Funding
The Kaftan Company is entirely a self-funded enterprise. They began their operations with a capital of INR 20 lakhs.
The Kaftan Company Competitors
While the fashion space includes many brands as potential competitors, they are primarily indirect for The Kaftan Company. They do not consider any direct competitors at this point given the initiative to be a fashion brand solely revolving around the design and production of kaftans in their entire portfolio.
Why is The Kaftan Company better than other players
The Kaftan Company uses tradition and innovation in creating uniquely handcrafted kaftans that the world has yet to experience. They are a very honest brand that focuses on comfort, good quality fabrics, impeccable quality, and trendy designs.
The Kaftan Company - Future Plans
Company has gained 30 Points of sale off-line and 10 Points of sale online in the past year with an intent to achieve 200 points of sale at the earliest opportunity.
The Kaftan Company Founder’s learning and advice
The founder, Prakruti Gupta Rao says “Perseverance is something that has gotten us through many challenging times and adhering to the concept of "never give up" to achieve what you truly believe in". We will never give up on our product or on our customers! We know that our customers will love to wear our kaftans, they just need to try their first one!”
The Kaftan Company- Recent update
They recently began taking The Kaftan Company internationally via online-channel partners in the U.S (Amazon.com), U.A.E (Souq.com) and U.K (StrandofSilk.com) and have nearly confirmed distributors in the African Subcontinent and East Asian markets (Malaysia).