Graceful ME

An online marketplace that offer designer products
Startup name
Graceful ME
Web address
Founding date
January 2018
Incorporation
No
Total team member
2
Startup stage
Prototype
Category
Consumer
Sector
E-commerce & online marketplaces
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
City
Karachi, Sindh, Pakistan

Elevator pitch

Graceful ME will is an online market place for designer boutiques. The platform let emerging designers sell their custom designed products by creating an online Boutique. The portal will connect the local designers with international buyers and allow them to display and sell their products in international market.

Team

Usman Khalid

I have over 5 years of experience in Marketing & Communications and i have a proven track record of building startups from the scratch. My last Job was with zameen.com and i have worked with them as Assistant Regional Marketing Manager. I am a business grad & hold Master`s Degree in Advertising.

Faisal Shoro

Hello, My name is faisal shoro and i am an engineer by profession. I hold B.E from NED University in Petroleum Engineering and an MBA from Warwick Business School. I over 5 years of experience working in oil sector and my last job was with Schlumberger which is a biggest oil exploration company.

Business model

Target customer

Frequent online shoppers, Designer product lovers, High School Grads

Customer acquisition strategy

Online Advertising, Partnerships with established designers, Events

Revenue model

We will charge 20% on each transaction from boutique owners.

Market info

Market size

$ 9,676,000,000

Competitors

Competition

Our direct competitor is Asos.com. Asos is working on a similar model and allow designer`s to create an online boutique and sell their products through the portal. Our indirect competitors are (Daraz.pk, Yayvo.com, Boohoo.com, Sephora.com). We are distinct from our competitors because this is the first time that an online boutique is introducing Pakistani designer products in the international market primarily in Europe.

KPI's

  • 50 Average order value in $
  • 2,000 Website Traffic (In 3 months of launch)
  • 50 Conversions/day
  • 6 Customer Conversion Cost $
  • 180,000 Projected Year end Revenue in $

Startup traction

We have created a facebook page and developed a prototype of the product. Our expected revenue at the end of 1st year will be $180,000.

Add comment

We have just developed a prototype and conduct online surveys. through surveys we came to know that 60 - 70% of the people who are brand lovers but they too are looking for designer label products. Survey also revealed that people who purchase branded products also want to wear designer products but due to limited designers and heavy price of the products they are unable to buy the designer wear.

Publication date: 10 April 2018