Indus B2C Global, a leading India-based Startup that offers Hair Extensions brand LeModish internationally, today announced that it has received $3,75,000 in funding from a UK Angel Investor.
Hair is a $5 billion supply worldwide from India. India is the only country where hair are donated in Temples. These raw hair are made into Hair Extensions – with a variety of products having different styles, colors and lengths. Styling can be kinky, straight, curly or wavy; Colors can be chosen from a huge list and lengths usually range from 8 inches to 32 inches. Until now, most factories in India have been concentrated in Chennai in Tamil Nadu, churning out extensions from handmade factories.
A decade back, some countries realized the huge market for these products. China, South Korea and Vietnam, made fully-mechanized factories, started importing containers-full of raw hair from India, and exported finished hair extensions to western markets. These Hair Extensions, in more than 1000 varieties, were already popular in US, UK, Africa, Europe, Israel, South East Asia and Russia.
Soon, as consumers found out, the products coming from China, Vietnam or South Korea, looked great but upon testing, were found to be not made of 100% human hair, but mixed with synthetic hair and horse hair. This is a classic Chinese rip-off since synthetic hair are made from plastic and cost 5-10% of human hair – mixing them gives huge volume and also improves margins drastically.
Solving this problem is the genesis of Indus B2C Global – the Startup created its own brand of 100% Human hair extensions – “LeModish”. The company launched LeModish in 2014 and also exports allied beauty products – it is the exclusive International distributor of Beauty brands. To create products which conform to international standards, the company set up a fully-mechanized factory in India itself. Raw hair are purchased directly by the company in e-auctions of Temple hair.
Indus B2C consistently strives to bring in upcoming products to cater to all needs from around the world. The company boasts of a collection of over 10,000 SKU’s, which can be shipped right to the customer’s doorstep, wherever they are in the world, with its delivery network shipping to over 200 countries. Each of its 15 International Hubs are fully equipped with Office and Warehouse and have a tie-up with International Banks – accepting all currencies and most financial instruments.
Indus B2C uses technology on a large scale in day-to-day operations, be it in Logistics, Finance, Operations, Marketing and Customer interface.
Indus B2C is an angel-funded company. The angel round of $3,75,000 valued the company at $4 million.
Towards meeting its international expansion, the company works with Distributors and Agents and is amenable to forming alliances and Joint Ventures.
Speaking on this occasion, Vandana Tolani, Head (Marketing), Indus B2C Global said, "US and other markets of hair extensions are scattered - Aggregating the customer-end i.e Parlours/ Salons is a difficult ask. Although Mayvenn is trying to work towards that. Then there are few others like Vixxenn, Indique Boutique and RPZL. We are talking to all these Startups to find ways to deliver our B2B offerings to the US market.
The way customer side is being aggregated by us is by being close to our markets in many countries worldwide – Similarly, we have been the main driver for creating international standard products on the supply side, which is in India. Our fully-mechanized Factory can supply 2000 kilos of finished Hair Extensions every month, made entirely from 100% Human hair.
LeModish is going places. We are on track to do a turnover of $15 million by March 2017.
We intend to further raise $10 million from US, Europe or Singapore to grow our International Hubs in US (Orlando, New York and San Francisco), UK, France, Russia, Dubai, Hong Kong, Indonesia, Singapore, Israel, Nigeria, Australia and Brazil. This investment would go in creating nimble teams across all these Hubs, business development and maintaining inventories.”
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