A decade ago, it required hours of wandering around the mall if one wanted to buy new clothes. Nowadays, getting a new dress or shirt is as easy as clicking on a website and waiting for the package to arrive at your door. Thanks to the internet, the retail industry, including fashion, is enjoying robust growth through its online presence over the past few years. The central bank notes that the country’s total e-commerce transactions throughout 2018 reached Rp 77.7 trillion, up 151% from Rp 30.9 trillion in the previous year. As much as Rp 12.1 trillion came from the fashion industry, which surged 266% from Rp 3.3 trillion in 2017.
Among several popular fashion e-commerce sites in the country, Love and Flair stands out with its omnichannel approach. The business started with a website shop only, but now it is expanding its sales offline by operating four flagship stores in Jakarta and Medan. Currently, it has more than 3,000 SKUs for both online and offline sales, and the company’s compound annual growth rate has been more than 100% since 2017. She claims to grow the sales without adding any capital.
Love and Flair was established as a business venture when Emily graduated with a bachelor’s degree in business administration from USC Marshall School of Business in 2014. The inspiration to start the venture came from the difficulties she faced buying clothes online. When she lived in the US, Emily says it was very easy to buy the trendy clothes seen being worn by celebrities or fashion bloggers, through e-commerce sites. Things changed when she found limited choice for online shopping at home.
“When I came back to Indonesia, I realized that the choice for shopping for trending fashions online was limited. The options for the mass market were only brands like Forever 21 and Zara, while the rest were luxury ones,” says Emily.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.
