Subscription commerce startup Vellvette secures $500K from India Quotient, others
Summary
India Quotient founder Anand Lunia told Techcircle.in Vellvette would use the money to build a technology platform for its customers who subscribe for ‘sample’ cosmetics. Founded in March 2012 by IIM Ahmedabad alumni Vineeta Singh and Kasuhik Mukherjee, Vellvette follows the business model of US-based BirchBox. The Indian firm generates revenue from its Rs 399 monthly subscription that a customer has to pay to get a box with three premium beauty product samples. Vellvette makes money because it gets these product samples from the brands at deep discounts or sometimes even for free,” Lunia explained the revenue model. The first time you purchase anything – be it subscription or product – you need to ‘proceed as guest.’ Once you have placed your order, your account will be automatically generated and hold good for all your future visits.