Capricoast partners with Sleek and Spacewood to strengthen services in 200+ Cities
By Editorial Staff
Since Indian lifestyle is changing fast, the modular furnishing (Kitchens & Wardrobes) industry has witnessed phenomenal growth as a category in the last 5 years. It has become an essential pre-move in purchase for new home-buyers. The industry in India is pegged at $10 bn, a large part of which is unorganized. While a handful of both Indian and International brands exist, the large part of the demand continues to be fulfilled by small interior design firms and local carpenters. India’s only marketplace for home solutions CapriCoast, aims to organize the highly-fragmented and unorganized modular furnishing market in India. The company plans to provide customers with a wide spectrum of premium products and the best price in the industry.
Within only nine months, Capricoast has furnished 100s of homes. There are quite a few companies that have come into an online led-interior space, which is the closest comparable to CapriCoast. But most people are taking a complete vertical stack ( own manufacturing / showrooms etc ) approach or trying to do it in a complete online manner with white labeled suppliers. Capricoast provides customers with a wide spectrum of premium products and the best price in the industry.
Founded in January of 2015, the Bangalore based start-up raised $1.25 million in a seed round led by Accel Partners India earlier this year.The start-up has invested this funding towards building its technology platform, hiring key talent and marketing. They launched unique marketplace platform by partnering with Spacewood and Style Spa. Just recently they tied up with Asian Paints subsidiary Sleek International, by partnering with Sleek International, over 30 plus Sleek showrooms would now be accessible to Capricoast customers As of now this service is available in 15 cities and will soon be in 50+ cities with a showroom network of 200+ .
With its fifty employees, CapriCoast.com is pioneering the O2O (online to offline ) model, which enables modular furniture brands to take their extensive showroom network online, thus significantly increasing their visibility and customer reach. With this model, customers can now begin their modular furniture purchasing journey online – exploring an extensive design catalog, customizing their design with free consultations, and then buy online or experience their design offline at these brand showrooms and buy from there. From the customer’s research and discovery phase and personalized service of home consultations and showroom visits, to on-site installation and after-sales support, we provide constant support every step of the way.
For their supplier network, CapriCoast will be significantly increasing their showroom capacity utilization, providing faster returns on capital already deployed.
“We will be investing heavily into technology to improve the on-platform customization and personalization capability. We also intend to be launching other solutions for the home early next year.” said a senior executive of CapriCoast.
He added “We don’t have anyone else operating in this model. That said, there are quite a few companies that have come into an online led-interior space, which is the closest comparable. But most people are taking a complete vertical stack ( own manufacturing / showrooms etc ) approach or trying to do it in a complete online manner with white labeled suppliers.
Founder & CEO , Capricoast.com
Jawad Ayaz is a serial entrepreneur and Capricoast is his second entrepreneurial venture in home furnishing. Prior to Capricoast , Jawad founded Zansaar.com, India’s first online retailer offering a comprehensive range of home, garden and world food products, sourced from India and across the globe. Both Capricaost.com and Zansaar.com are funded by Accel Partners.
20 North, Openera, Xybridge Technologies, Ind – Telesoft pvt ltd,etc. are few other companies that Jawad started in the wireless technology space through 1995-2011
CapriCoast.com’s O2O model brings in higher capacity utilization for partners, and a large part of that is passed on to the customer, making it possible for the price of a world class modular kitchen to be 20% lower than any other comparable offerings in the market without any compromise in quality.
Being asked by The CEO Magazine, CapriCoast said “ at CapriCoast, we are building India’s only market place for buying “solutions”. There is a key difference from a “product buying” platform, which is what traditional ecommerce, is. The key nature of “solutions” is that there is an aspect of on platform customization & spatial fit. We launched this unique marketplace platform by partnering with Spacewood and Style Spa and soon expect to have all the major brands signed up.”