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Stylumia reduces fashion industry's carbon footprints by 60 million garments per annum

Sangeetha Chengappa Bengaluru | Updated on December 06, 2019 Published on December 05, 2019

Ganesh Subramanian, CEO, Stylumia

The Bengaluru-based fashion was founded in December 2015 by former Myntra COO, Ganesh Subramanian

Did you know that the world produced 150 billion garments in 2018 alone, of which 50 billion garments or one-third remained unsold? A greater cause for concern is that the $3 trillion Global Fashion & Apparel industry is the second most polluting industry after Oil, contributing to water pollution, air pollution and solid waste pollution.

Under pressure to reduce their carbon footprint and move towards sustainability, a clutch of Global and Indian Fashion & Apparel companies/brands such as the Bestseller Group’s brands - Only, Vero Moda and Jack & Jones; Fossil, Ray-Ban, MAS, Celio, Wrangler, Reliance Trends, Future Group, Aditya Birla Fashion and Arvind Group among several others, are turning to Stylumia, a bootstrapped ‘Made in India’ fashion intelligence start-up to address this looming concern.

Founded in December 2015 by former Myntra COO -Ganesh Subramanian - Stylumia, an AI-led platform is garnering steady traction for its SaaS solutions which assist customers including fashion professionals, large international brands, retailers (online & offline) and exporters to make informed decisions. It address the primary challenge of selecting the right fashion products to be sold across different seasons through the year.

“Stylumia helps customers to reduce overstocking of unwanted inventory and carbon footprint to the tune of 60 million garments per year, a number which will increase further as we continue to scale. We also grow revenue velocity of our customers by 25-50 per cent and grow their profits by 30-40 per cent” Ganesh Subramanian founder and CEO of Stylumia Intelligence Technology Pvt Ltd, told BusinessLine.

Global expansion

The start-up claims to have over 70 paid customers including Fortune 100 brands and retailers across the United States (US), United Kingdom (UK), India and West Asia with plans to expand its operations to Sri Lanka, Bangladesh, Nepal, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Japan and China over the next 12 months.

Strengthens top deck

To scale globally, the start-up has strengthened its top deck with two Directors of Business Development – Priya Sachdeva who comes with two decades of experience in B2B sales/sales management and will be responsible for the South Asia and APAC regions; Vonita Samtani who also comes with two decades of expertise in international business development and will be responsible for APAC. Besides Subramanian, the top deck includes Sharath Puranik, Director of Product & Engineering and Hemamalini Padmanabhan, Director of Customer Success.

“We will exit March 2020 with an ARR (annual recurring revenue) of $1 million and are targeting to get to $10 million in ARR in the next two years, driven by our geographic spread, enhancement to our SaaS product portfolio and the visibility that we gain from our marquee international client roster” said Subramanian who was the mastermind behind Myntra’s disruptive AI-led fashion solutions.

The start-up’s top three products - Stylumia MIT (market intelligence tool) Stylumia FIT (fashion intelligence tool) and Stylumia Apollo (fashion predictor bot) help in forecasting fashion trends and predict demand in the constantly changing fashion business from the design and creation stage to the pre-season commit level to in-season demand and store distribution inventory with 80 per cent accuracy.

Published on December 05, 2019
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