India’s Largest Online Gifting Company IGP.com.com Dominates $30bn Market
India’s largest online gifting company IGP.com.com dominates $30bn market
BY AYANANGSHA MAITRA
Choosing a special gift online and sending quickly was not easy until e-commerce companies introduced gifting facilities. Since 2001, IGP.com has not only provided a highly curated collection and last-minute gifting facility but also helped customers to choose the right product for their loved ones through its proprietary Gift Suggester. The gifts they offer, which showcase Indian tradition and culture, fall under three categories:
- Public occasions: All domestic & International festivals including Rakhi, Diwali, Bhai Dooj, Valentine’s day, Mother’s Day, Father’s Day, etc
- Private occasions: All private occasions, including Birthdays, Anniversary, Wedding, Housewarming etc
- Corporate gifting: All kinds of corporate gifting requirements across all product categories including Gift cards, Premium gifts, Customized gifts etc
Without depending on Investors, IGP.com.com has become India’s largest online gifting company and the largest player in $30bn market. Apart from its overseas office in US, IGP.com’s three hundred employees are working in Noida, Mumbai, Lucknow, Jaipur and Bangalore offices. It has free international gifting catalogue with ability to delivery anywhere in the world within 3 days. Its Florists & Bakeries network has more than doubled in last 3 yrs, covering 300 cities today and equipped to deliver 10,000 orders per day within 8 hours. Having sent 3 million gifts worldwide and delivering in 100+ countries in 2014, IGP.com competes the market with Ferns and Petals, Archies Online etc.
IGP.com is currently India’s only multi-category gifting player with more than 80,000 SKUs, which has same day delivery facility in 300 Indian cities and 3 days International delivery in nearly 100 countries. IGP.com was rewarded Pepperfry India eRetail Award 2013.
More than 50% of IGP orders currently come from international customers who are largely NRIs and other immigrants who frequently send gifts to their home countries. Due to focus on curation & signature products, IGP.com enjoys website conversion rates as high as 15% during Festivals and repeat purchases of 60%+.
“While we are one of the largest gifting players in India, we believe that we have barely scratched the surface yet and there is a huge amount of innovation which is required. We have huge plans for the next 3 years in all 3 areas – curation, technology and logistics.” said IGP.com.
The Maverick behind the Success of IGP.com
Rahul Garg is the CEO of IGP.com and is responsible for overall strategy, team building & execution.
Prior to joining IGP.com and apart from his E-com start-up Artisangilt.com, Rahul has 8 years of work experience in investment banking, where he held a broad range of advisory roles at the top global investment banks like Lehman Brothers, Nomura International and HSBC Securities. His experience comprises 5 years of advisory experience in international (UK/Europe) capital markets and 3 years of experience in the Indian capital market. He became the youngest Vice President in HSBC at the age of 27 which paved the way to his entrepreneurial journey. In the investment banking sector, Rahul has won many awards and accolades for his performance and contributions. He was the recipient of the Lehman’s firm wide Annual Award for Outstanding Contribution. He was also ranked the 16th best analyst in India by Asia Money.
During his days as a student, he founded Unnati- a social service organization to provide vocational training to underprivileged youth & semi-skilled workers and raise funds for various noble and charitable missions like Tsunami Relief Fund. For this, he received two honors for contributing to the society, by the Director of IIT Bombay. He is also a member of the CFA Institute, USA and Indian Association of Investment Professionals (IAIP).
Born in Bhopal, Rahul graduated from IIT Bombay with a B.Tech in Chemical Engineering. He then went on to complete the highly prestigious Chartered Financial Analyst (CFA) programme and received his CFA charter in 2010 from the CFA Institute, US. Rahul lives in Mumbai with his family. An ardent reader, he loves epic fantasies that keep his imaginative mind satiated. He also likes to watch select TV series, particularly the ones based on science fiction or sitcoms.
“Over 70% of customers don’t know what to gift. To solve this, we have the largest curated collection of gifts for most of the public and private occasions. With our proprietary Gift Recommender (beta version) customers can much easily discover the most suitable gifts based on occasion, relationship, budget, etc
Gifting is a last-minute event. With enhanced logistics and hyper local delivery network, IGP.com offers same day delivery, fixed-time delivery and mid-night delivery options to its customers. ” IGP.com said to The CEO Magazine.