Affordable Footwear Innovators Founded by Prateek Singhal and Ahmad Hushsham in 2021, Yoho offers affordable, comfortable footwear with over 100 styles, including orthopaedic slippers and sneakers, and plans to expand into kids' and sports footwear.
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As the COVID-19 pandemic transformed consumer behaviours, the founders of Yoho identified a significant gap in the Indian footwear market: the scarcity of comfortable, high-quality shoes at affordable prices.
Recognizing this opportunity, Prateek Singhal, Co-founder of Yoho, remarked, "With growing internet penetration and the rise of digital payment acceptance, we launched our direct-to-consumer (D2C) brand in 2021, aiming to cater to a market increasingly gravitating toward online shopping."
The initial phases of building a D2C brand were fraught with challenges. "Our small team was tasked with multiple roles, from production to marketing," Singhal recalls. "We encountered hurdles in logistics, customer acquisition, and maintaining customer interest." Despite these challenges, the team remained committed to the core ethos of Yoho: delivering comfort through innovative products.
Their flagship product, "Bubbles," an orthopaedic slipper, took eight months to develop, ensuring it met stringent quality standards. Ahmad Hushsham, Co-founder of Yoho, shared, "This careful approach paid off; 'Bubbles' emerged as our top-selling item, leading us to introduce over 100 styles of comfortable footwear to the market today."
To refine their strategies, the team heavily relied on data analytics and direct customer feedback. "When we examined market trends and engaged with our customers, we noticed a significant gap in the range of footwear for both women and men. Many existing brands offered either similar styles or were large brands with good ranges but high prices," Hushsham explained. "Understanding this pain point, we developed one of the largest ranges of sneakers available today."
Yoho's efforts have resonated well with customers, resulting in a remarkable 400% growth in sales through quick commerce platforms like Blinkit, while marketplaces such as Amazon now contribute to 75% of their revenue.
Initially focused on online sales, which comprised 95% of their total sales, the founders recognized the importance of a physical retail presence. As shopping behaviours evolved, they began expanding into offline markets, targeting multi-brand outlets (MBOs).
Singhal added, "We aim to increase our offline presence from 500 to 2,000 outlets by 2025, leveraging the tactile experience consumers seek when shopping for footwear."
Looking ahead, Yoho plans to diversify its product offerings further, expanding into kids' and sports footwear, with a goal of increasing its product range from 100 to 300 styles. "We also plan to establish an international presence, targeting markets in the Middle East, US, and Africa," Hushsham noted.
With a projected turnover of INR 70 crore for FY 2023-24, the Delhi-based brand remains committed to a customer-centric approach, as evidenced by their impressive 11% customer repeat ratio.
Facts:
- Online Platform Drives Highest Revenue: Amazon
- FY 2023-24 Turnover: INR 70 Cr ARR
- Sales split: 5% offline, 95% online
- Inception Year: 2021
- Team Size: 60
- Customer Repeat Rate: 11:100
- Funding Raised: INR 47 Cr
