Handicraft is new business model

34243424a1

FabIndia’s success has created a new path for entrepreneurs to move on.

Currently the share of India in global handicraft market is about 2%. There is a need of targeting this market. Unofficial sources estimates the number of handicraft producers to be 2 crore.

The business model of this industry is simple “Remove the middle men – Pay producers on time – Find the market place”

There are very successful players in this field.

1. Industree Crafts
Retailer of fashion and home decor under flagship brand Mother Earth

Business Model –
Retails products across six stores. It follows a hybrid model which has for-profit and non-profit organizations under it. Works with government initiatives also.

Unique Product
Home Decor

Revenue
INR 20 Cr (FY 2013)

Artisans in Network
10,000

2. Earthy Goods

Retailer of spices and assorted food products, accessories

Business Model
Retails products under its New Delhi-based flagship store. Markets its portfolio to institutional and retail customers.

Unique Products
Cooking spices and herbs, wallets, stoles

Revenue
Undisclosed, since currently in fund raising mode

Artisans in Network
25-30 clusters

3. CraftsVilla

Online marketplace for handicrafts, jewellery

Business Model
Connects buyers to sellers directly. Has integrated its sellers to its ERP software, allowing them access at all times. It is developing a mobile app for consumers and seller.

Unique Products
Jewellery

Revenue
INR 4 Cr (FY 2013)

Artisans in Network
4,000

4. Rangsutra

Producer and buyer of men and women apparel and home furnishing

Business Model
Has one store, but model is sourcing products from artisans, designed by its own team, and selling the same in wholesale quantities to institutional buyers.

Unique Products
Hand embroidered skirts, stoles and accessories.

Revenue
INR 7.5 Cr (FY 2013)

Artisans in Network
4,000

5. Hansiba

Retails products through its stores in Ahmedabad and New Delhi. Is also into wholesale and exports.

Business Model
Artisans across 10 states are the owners, producers and stakeholders in Sewa Trade Facilitation Centre, which operates the Hansiba brand

unique Products
Embroidered apparels, cushion covers and pouches.

Revenue
INR 4 Cr (FY 2013)

Artisans in Network
17,000

information source: EconomicTimes

Be Sociable, Share!


Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

Leave a Comment

Current ye@r *

Close
Please support the site
By clicking any of these buttons you help our site to get better
Social PopUP by Timersys