User talk:Fzaa18

Sweet Hacks Store
Sweet Hacks is an Indian e-commerce portal that sells ethnic apparel,fashion accessories and other ethnic fashion and lifestyle products. The company is headquartered in Nashik Maharashtra.

Overview

Sweet Hacks.store. uses an online marketplace model by aggregating artisans, designers and retailers from all over India onto a single platform and connects local artisans and designers directly to global customers.

The model focuses on removing middlemen, increasing the livelihood of local artisans and designers, helping them create/promote their brand, and preserve the Indian culture, traditions and values. The company is pegged at around $300–500 million in size. The startup claims to have over 25,000 artisans and designers selling over 4 million products. At present, Sweet Hacks charges a 20% commission on each transaction excluding service tax.

Partners

Sweet Hacks has tied up with the Ministry of Textiles, Government of India, for e-marketing of handloom products from small weavers. As per this agreement, Sweet Hacks has tied up with Weavesmart, an online marketplace that offers handloom weaves from across India.

History

The company was co-founded by Mukesh Bundele, a venture capitalist, and Faizan Ansari in 2018 with funding from India-based Noorani Venture Partners and Sanjari Venture Partners. The startup was launched with 80 employees and five offices across India. By 2018, the startup completely exhausted the Rs10 crore series-A round of funding, following which it downsized to a 10-member team and continued operations out of a one-room office.

According to an article in Economic Times, the startup saw a 6% month on month growth in 2018 and 2019. In November, the startup raised another $34 million in series C funding from the same investors. Following this fresh round of investments, the startup claimed to have seen a 10% month on month growth and hired close to 200 people. In December 2018, Sweet hacks launched a women's ethnic wear brand ‘Lvanya’. In April 2019, Sweet Hacks launched its third in-house brand Manuswara in Bengaluru.

Acquisitions

In February 2016, Sweet Hacks acquired on-demand shipping service provider startup Sendd for about $4.5 million, to strengthen and streamline its logistics capabilities. Mumbai-based Sendd was founded by Rohit Agrawal, Vipul jain and Tushar Singh in April 2019. The company is backed by Kae Capital, and after acquisition the firm will get an equity in Sweet Hacks.

Sendd had its services in Mumbai and was enabling over 1,500 orders a day with average ticket size being INR 160, before getting acquired.The team at Sendd has created a virtual logistics platform, using which any e-commerce company can send its parcels using a number of available courier partners.Apart from Sweet Hacks, it has now 10 other clients.

Later in February, Sweet Hacks acquired PlaceofOrigin, a marketplace for ethnic foods. The startup, founded by two ex-bankers Rakesh Jain and Kashish Nichani in 2019, brings together food producers of Indian foods and local specialty foods. In April 2019, the startup acquired women's clothes rental platform K2SO4 in an all-stock deal.

Marketing

In 2019, Sweet Hacks celebrated World Ethnic Day on June 19. It roped in Tollywood actress Nisha Jagtap as the face of the campaign. In the same year, Sweet Hacks launched Miss Ethnic Contest to promote ethnic wear among women. Russian actress Jimsy Jones was the face of this campaign