Share This Post

Startup

Eves24.com – Unlimiting your Jewel Wardrobe. Forever !

By Rahul Banka on 19 Comments / 4994 views

Dear Fellow Rodinhooders

Eves24.com has launched a first of its own kind of jewellery lifestyle services in India, which enables women to enjoy real jewellery in its true essence i.e. as a fashion accessory.

We write to seek your suggestions on what can be the best / innovative ways to reach out to the target audience i.e. “a fashion conscious women who loves Jewellery”. 

Since time immemorial, the human kind has been a patron of jewellery; hence wearing jewellery comes to us quite naturally. Jewellery if worn appropriately, and without much ado, can work wonders. It not only enhances the image, it helps in self-expressions and gives positive energy too.

We strongly believe that every woman should wear jewellery to celebrate her life’s best moments, but without the guilt of repetition.

At Eves24, as an Eves24 Club Member, for the 1st time in India, one can access Jewel Library to pick up rarely worn, high end ornaments for a limited time period by just paying usage fee; or build their very own trove of daily wear jewellery on easy EMIs through Easy Jewel; (PS: Banks and credit card companies doesn’t offer / encourage EMIs on Jewellery, hence as such Jewellery is not available on EMI in India). 


Also, anyone can simply buy certified jewellery from our designer collections supplied by  Multiple Vendors at highly competitive prices; on Jewel Online i.e. www.eves24.com  or by visiting our partner stores in the city. 

Ours is an asset light business model, bootstrapped by me, with a focus on acquiring the Eves24 Club Members. As of now, we are offering membership in Mumbai and would gradually take it Pan India. We have built in the ecosystem for risk management and have various risk management measures in place.

Jewellery in India has two objective, indulgence and investments. Ironically, both the objectives are defeated big time. Buying a gold bar is a relatively better investment opportunity then Jewellery, as price of Jewellery includes making charge and Jeweller’s margin. Also, given the expensive nature, a lady is unable to frequently change jewellery as she would change her other accessories and wardrobe.

Eves24 club membership enables a women to separate the indulgence from investment. One need not invest in Heavy Jewelries that are rarely worn at special occasions, instead can use our Jewel library to satiate the need of indulgence, by just paying usage fee (rent). Whereas regular wear Jewelries which are worn more often are akin to wearing outfits, which a lady would want to build her collection. Our emi service provides the ease to build the collection at zero interest cost.

The challenge to us is the mindset change required for acceptability of Jewel library for enjoying the Jewelery.

Looking for Sales ideas; sales professionals and also a co-founder

We are working on various sales initiatives but am not talking about it as it would bias your mind. We seek your suggestions on what can be the best / innovative ways to reach out to the target audience i.e. “a fashion conscious women who loves Jewellery”. 

Also, if someone believes in this opportunity and is willing to take risk and work alongside me as a co-founder then let’s explore.  

Further, we are looking to build our sales team. Please do write to us if you believe you can get the numbers… 🙂

I can be reached on rahul.banka@eves24.com

Looking forward to hear from you.

Thank you, Cheers !!

Rahul Banka 

Facebook page

PS: appended below are some designs for sale and screen shot of our website, on trailer catalog for Jewel Library.

 

     

Comments

Share This Post

Rodinstar Posts

19 Comments

  1. hi rahul,

    i’m going to be BRUTALLY HONEST with you 🙂

    you are a jewellery library – so pls stick to that positioning in every communication.

    I THINK IT’S A FASCINATING IDEA! a jewellery library to rent from!

    so i think you really need to keep talking about the advantages of RENTING JEWELLERY instead of selling the idea why women should wear jewellery! 

    this sounds so unnatural! “Jewellery if worn appropriately, and without much ado, can work wonders. It not only enhances the image, it helps in self-expressions and gives positive energy too.”

    i have other issues with your communication:

    1) “target audience i.e. “a fashion conscious women who loves Jewellery”. ” – is so 1990s. why can’t you say something like the woman who likes to accessorize herself with different jewellery but doesn’t want to invest in owning every piece she wears.

    [everyone woman perceives herself as fashion conscious – some of us don’t like heavy/expensive jewellery!]

    2) We strongly believe that every woman should wear jewellery to celebrate her life’s best moments, but without the guilt of repetition.

    without the guilt of repetition?? why should a woman feel GUILTY about repeating the same jewellery?? sell THE CONCEPT OF VARIETY. don’t make it complicated by bringing in emotions that have no relevance. YOU ARE RUINING YOUR OWN PERCEPTION 🙁

    this part is perfect! and i can appreciate your challenge as well 🙂

    “Eves24 club membership enables a women to separate the indulgence from investment. One need not invest in Heavy Jewelries that are rarely worn at special occasions, instead can use our Jewel library to satiate the need of indulgence, by just paying usage fee (rent). Whereas regular wear Jewelries which are worn more often are akin to wearing outfits, which a lady would want to build her collection. Our emi service provides the ease to build the collection at zero interest cost.

    The challenge to us is the mindset change required for acceptability of Jewel library for enjoying the Jewelery.”

    coming to the video – now when you talk about a jewellery library i automatically think ELEGANCE. the video kills that concept completely. in my opinion – the animated look & feel doesn’t work. it looks like a not so pretty dress up game (my child plays lots of those and from the music itself she asked me if i was checking out some new game!!) . i would’ve loved to see some of the actual jewellery in the video. a more polished and sophisticated voice over could have added some value. 

    what are your usage fees like? why don’t you share examples jewellery with rental fee on the post itself to give us a better idea? what kind of deposit is one looking at? if you could share more details perhaps we could give you more feedback.

    maybe you should have a shaadi niche – be in touch with beauty parlours and wedding planners – they have access to your customer base! i can imagine lots of folks don’t want to go to the locker just take some jewellery out for the neighbour’s niece’s wedding – you got my drift 🙂

    will think about this some more and get back to you.

  2. hey rahul, 

    pls check out this video that kart rocket got made. that’s the kind of look &feel i think would do justice to your venture. (it need not be so long or elaborate)

    https://www.therodinhoods.com/forum/topics/kartrocket-online-seller-app

  3. rahul – here’s another simple, yet effective video 🙂 

    https://www.therodinhoods.com/forum/topics/the-kraftout-story-reinventing-daily-products

  4. Hi Asha

    Thanks for the effort and the honest feedback. Some of your feed backs are really useful i.e. on video, replacing the word guilt with a positive word, women who likes to accesorize herself et al. (PS: Can you recommend somebody for the cost effective making of the video?)

    On positioning…. we enable a women to enjoy jewelery as a fashion accessory, the rarely worn heavier one can be picked from our library, whereas, she would want to build the collection of regular wear Jewellery which we make it easy through the EMI option. (PS: NO jeweller in the country are able to offer EMI as banks / Credit cards do not offer the same / discourages the same). It’s a new way to enjoy Jewelery for the Eves24 Club Members. 

    Read the Eves24 Club Membership FAQ

    The usage fee is 5% (+Service tax) of the value of Jewelery. Checkout the trailer catalog to see the range of offering.

    Yes, you are right. We are indeed targeting wedding market. We are tying up with Image consultants, wedding planner, wedding organizer etal… 

    Let me have your suggestions once you go through the FAQs / trailer catalog. Also, do share ideas that can help change mindset towards Jewel Library … 🙂

    Thanking you once again.

    Cheers..

     

  5. hey rahul,

    i just checked out your trailer catalog. you’re talking high end. whistle. you really need a sophisticated video for promoting this!!

    i’ll be sharing your post in the newsletter. let me mention that as well. 

    i know startup video guys. but you will need someone who specialises in shooting jewellery….

  6. ps: rahul – you should add a screenshot from the trailer catalog. i don’t think your TA is coming through with the description only.

  7. This is fascinating page – https://www.eves24.com/jewel-library-trailer-catalogue

  8. hey rahul,

    alok shared your post on his fb – here’s are some valuable insights shared by chirag kulkarni. you might want to respond to it on fb. 

    Chirag Kulkarni Not sure about India, but I was looking to start a company in a similar space for luxury watches (Rolex, Panerai, AP, etc.)

    Some lessons learned:

    1. Insurance for your jewellery is SUPER HIGH. Meaning if someone steals your jewellery, it’s a huge liability financially to the insurance company, meaning you have to have some serious premiums.

    2. Vetting clients ahead of time can be tedious, especially if there isn’t already a system to look up criminal records effectively in countries. Again, huge liability. 

    3. Your inventory and startup cost is super high. 

    Not saying this won’t work, but after doing numerous customer and vendor development interviews, this is the feedback. Just my 2 cents.

  9. Hi Rahul,

    Great idea!

    You could reach out to beauticians and fashion boutiques as well. The last time I was at a designer boutique to get my clothes tailor made, I wondered why not they have matching accessories displayed to go with the dress. And here you are- offering what is rightly needed. 

    Srividhya

    Tweeting @srividhya15

  10. Thanks Alok. When can I come down to sign up Eves24 club membership for your family … 🙂

  11. Thanks Asha

    Unlike in US where this business is done with unsecured risk, our business model is very different keeping the Indian context in mind.

    We only do secured transactions and as mentioned in the post, ours is a multi vendor asset light business.

    cheers…

  12. Thanks Asha… Been a bootstrap was earlier also contemplating investment in the suggested type of video. However, it seems I rather invest that money…

  13. Thanks Srividhya

    Your words are encouraging… when can I come down to sign up Eves24 club Membership for you…. 🙂

    Cheers…

  14. hey rahul, how’s eves24 doing? any updates to share with us??

  15. Hi Rahul,

    Great Ideas with lot of challenges as highlighted by Chirag in Asha’s comments.

    I would like to share some of my close observation, try working on it and it might help you take your idea to next level.

    1. Work on your logo, doesn’t look too promising

    2. When I scroll down the static header hides your navigation and black text on brown background is hardly readable.

    3. The color combination of website is not soothing to eye and lots of issue with color combination like black text on brown background, brown and orange etc. Take a look at https://ccds.checkbeta.com/ that we did for one of our client 3 years back on similar color options.

    4. On Top you have following text but no link, customer would not spend time trying to look for these pages – Designer Collection   Certified Jewellery   Highly Competitive Prices   Free Shipping   Easy Return   Life-time Exchange   Buyback.

    5. Product Detail Page – The page looks really unprofessional – On engagement ring section I could hardly understand that I need to click or select on diamond quality and enter ring size. Additionally the colors were total out. The page is totally mismanaged, like review goes to bottom, recently viewed product extremely at bottom etc.

    6. Social Media Links – Each one should have opened to a new window

    7. SEO – Website is not optimized for Search Engine and Meta Data are not updated. Please fix it if you wish to take advantage of search engine.

    8. Font Size – Be consistent with your font size, please use single font size for body text etc. Like Why We & About Diamond have different font sizes. 

    9. Sub Navigation – The sub navigation on right side on content pages are hardly visible and don’t look like a sub navigation.

    10. Couldn’t make out difference in your content for Jewel Library & Easy Jewel, since both had annual membership and pay-per-use. Then what is Club Membership?

    11. How it Work – The section is not very clear, lot confusing and the membership benefit chart I could hardly understand. First 1, 2 Lakh etc i couldn’t understand, what it denote. 

    12. Know your Jewels Section could be more organized, like you could create separate section for Gold, Diamond, Platinum, etc

    13. Why do you have the video on two places on home page. 1 on top and then at bottom, use it for something else. 

    Let me know if you need additional help.

    Regards,

    Amit

  16. Thank you Amit. 

    Can we speak at a convenient time of yours? Kindly email me your coordinates and convenience on rahul.banka@eves24.com

    Regards,

    Rahul Banka

  17. Hi Asha,

    Eves24 is doing good. Moving in the right direction though at a pace slower then assumed.Realities are different from business plan 🙂

    We are currently running a campaign whereby a women / couple can enjoy 100% free session with image consultants to learn about the art of accessorizing. Indeed got some good testimonials. Attached is one of the video. 

    To know more and register for the free session, click on https://bit.ly/1Na1pvT. 

    Face book event page

    Any other engagement ideas? Do share.

    Cheers,

    Rahul Banka

  18. Rahul you are welcome. I have emailed you the details.

  19. hey rahul,

    good to see eves24 being covered!

    https://techcircle.vccircle.com/2015/11/19/eves24-makes-high-value-jewellery-available-on-hire/

Comments are now closed for this post.

Lost Password

Register