Company is now seeking strategic partnerships, including investors for pre-series A funding round
March 14, 2017 – JFL (Jewellery For Less) is preparing for an expansion that will catapult the brands JFL & TAP Fashion center stage in India. The company, which aims to be the “Google of fashion and jewellery”, has set its sights to be a billion dollar company within two years, and is now seeking strategic partners along their journey.
According to the team at JFL (Jewellery For Less), they are inviting strategic investors for the Early stage funding round to be routed via LetsVenture.com or direct. The already-successful brand boasts over 1,000,000 Facebook followers and 380+ five-star ratings on Amazon. Customers have raved about the brand’s quality, collection, prices, customer care, packaging, money back policy, and more. For the team at JFL, customer delight is the highest priority.
According to the team, JFL (Jewellery for Less) requires $1,000,000 as Growth Capital for scaling-up the operations of JFL + recently launched TAP Fashion and this will present a 100X opportunity for investors coming on board today. 35% of this fund will be used as working capital while the remaining 65% will cover investments in building team, technology, infrastructure and promotion. JFL (Jewellery for Less) recorded a 900% revenue growth within 8 months in 2016 and has a current annual revenue run rate of $360,000. The organization targets to reach a 100 million dollar valuation by 2018 backed by strong unit economics and high customer base. “Our Cost of customer acquisition has reduced by 38% while Gross profit margins have increased by 40% to 60% due to investments in manufacturing”. “We forecast sales footprint increasing 10X at an operating margin of 65% within 24 months of going live as a national Jewellery Brand. This will help in building a strong customer base and turn the platform into a world class profit churning sales engine” says Kumar Varandani, COO & Cofounder JFL. “We are taking a bold step and reaching out to investors to help build a Unicorn in this billion dollar industry, which is untapped with no noteworthy national/regional brands in Fashion Jewellery” adds Kumar.
The JFL team has over 40+ years of business experience with expertise in areas such as sales, marketing, managing, business development, ecommerce, customer care, fashion, jewellery, IT, software, networking and more. The JFL team is committed to improving products/offerings and customer care continually, as well as building a world-class organization. The company’s proximity to the global sourcing & manufacturing hub for jewellery is an added benefit. JFL which was seeded by husband and wife team has grown from 1 employee (2013) to 24 today and experienced a 231x leap in sales from February to October 2016 on Amazon.
The JFL founding team has been joined by Gaurav Mishra with rich experience in IT, ecommerce operations, software, explosive growth & more. JFL has in 2016 diversified into manufacturing, newer product categories & set up new Brand TAP FASHION that caters to High Volume & Low Price Point Markets which have enormous growth potential In India.
JFL’s very recent diversification into Fashion and Women’s Hand Bags (Leather and Synthetic) via (TAP FASHION) is also yielding rich high velocity results. The newly incorporated entity TAP VENTURES PRIVATE LIMITED will serve as the Investors entry point to Brands JFL & TAP.
Deepti Varandani, woman entrepreneur, CEO & Founder of JFL – Jewellery for Less & TAP Fashion had this to say, “JFL is on a mission. When a customer wants Jewellery & Fashion, we want her to only think of JFL. We sell the most phenomenal curated collection of fashion Jewellery & Fashion to women in India and world over. 2017 promises to be a year of hyper-growth JFL & TAP Fashion.”
More information can be found at www.myJFL.com.
About JFL (Jewellery For Less) & TAP Fashion
JFL (Jewellery For Less) & TAP Fashion offer a wide range of today’s hottest jewellery & fashion at exceptional prices.
Kumar Varandani, COO & Co-Founder
Matchless Jewellery For Less LLP; TAP Fashion; TAP Ventures Private Limited.
Phone: +91- 9930088321 (Mumbai, India),
Amazon: Amazon Store: Http://goo.gl/3Ih0oC