Design has different connotations in different fields. For e-commerce sites, where buying customers are target audience, whose taste change with passing time, it becomes impertinent for them to strike chord with unique designs.
Madcap, an ecommerce platform for stationery and merchandise items, has just been able to touch consumers emotions with its unique designs and products.
Gokulraj GK, now a serial entrepreneur, launched Madcap, an ecommerce platform selling stationeries and merchandises that are targeted at people between the age group of 21 to 35 years of age, in 2014. The platform sells notebooks, tote bags, badges, posters, mugs and coasters.
The company was producing in-house notebooks and within a few years reached in 4 states, 12 cities and over 1500 stores.
“The thought of launching a new brand retailing stationery and merchandise isn’t new in India. But, what’s new is the approach to developing and designing the products that the targeted customers like,” said GK, Founder and CEO, Madcap, who launched his first startup MyCopie Notebooks in 2012 in Chennai and Bengaluru.
He added that the merchandise brands in India weren’t appealing to him. They were either focused more on the feminine side of the society or did not have any design sense. He calls his product designs unique and of limited edition, which make the platform different from others.
Market embraces the concept
The platform has been using various sales channels such as online channels, offline Stores, and events to sell its products.
GK has invested around Rs 50 Lakhs in the business till now. He has spent a majority of the money into productions and operations, besides marketing and events.
In the past 36 months, the platform’s revenue has been about $350,000; most of the sales has happened through our retail partners both offline and online.
The company is bootstrapped till now.
More opportunity lying
According to GK, the Stationery and merchandise industry in India is worth of Rs 10,000 crores with a very few organized players in the ecosystem.
Chumbak, Alicia Souza, Happily Unmarried, Souled Store, Bewakoof and India Circus are a few organized players.
However, Madcap differentiates itself with a unique approach to design, limited edition designs, focus on content that connects with customers and product development.
“We plan to add more items such as tyvek wallet, motorcycle helmet, umbrella, apparel, spectacle cleaning cloth, phone cases and wall posters. We aim to capture a total of 5 per cent of the market by 2025,” said GK.
He added that the the scope for building a brand that emulates the ego and emotion of the consumer with its design and product development is unprecedented. He would like to make Madcap a default brand when his customers think of treating themselves or their friends and family.