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Economic Times
3 days ago
- Business
- Economic Times
Quick fashion plays trials with AI to win ‘no return' game
TIL Creatives Startups in the 60-minute fashion delivery segment are betting on features such as 'try and buy' and artificial intelligence (AI)-powered virtual try-ons to tackle high return rates, a key pain point in the segment. These tools are helping increase conversion rates and reduce returns while offering greater flexibility to buyers, said industry executives. Mumbai-based Knot, which recently raised funding from venture capital firm Kae Capital, said partner brands that typically see return rates of about 20% on their direct-to-consumer websites are witnessing sub-1% returns through offline stores, a trend it is now replicating through these digital features. 'Our partner brands, which have offline stores, would typically witness 20% returns on their direct to consumer websites. But for the same purchases on offline stores, the returns are less than 1%. That is the idea. With the 'try and buy' feature, users can make a very decisive purchase at their doorstep,' Archit Nanda, CEO of Knot, told ET. Return rates among users of the company's virtual try-on feature are similarly much lower than the platform's overall user base, he said. Other venture-backed quick fashion delivery startups such as Bengaluru-based Slikk, Mumbai-based Zilo and Gurugram-based Zulu Club are also testing similar features to increase conversions and reduce returns. 'Returns play as big a part as maybe forward delivery does. Because these are expensive products, giving the customer his or her money back also plays a very critical role,' said Akshay Gulati, cofounder and CEO of Slikk. Instant returns Slikk is piloting an 'instant returns' feature where, like its 60-minute delivery service, returns are also completed within an hour. Once a return request is made on the app, a delivery partner picks up the product and refunds the amount instantly. The startup claims its return rate is 40-50% lower than that of traditional marketplaces and that it doesn't charge customers any extra fees for users said they were satisfied with the delivery speed and trial window but pointed out that the app does not provide any return status updates until the product reaches the warehouse."I received my order within 60 minutes and had enough time to try it out. However, after returning the product, I didn't receive any notification in the application until the delivery agent reached the warehouse," said Mohammed Shibili, a working professional based in Bengaluru, who tried Slikk's feature. Also Read: Quick-fashion delivery startups attract fresh VC capital Investor interest Investors tracking the segment estimate that try-and-buy and virtual try-on features can reduce return rates by 15-20 percentage points, translating into substantial cost savings for both platforms and brands.'Features like try and buy are a huge cost save, not just for the platform but also for the brand. The brand otherwise would lose that inventory till it comes back and can't make the sale on it. But now, that's all getting quickly turned around. So, for the brand, it's a win-win situation as well as for the customer where the money is not getting stuck till it gets the returns refunded,' said Sunitha Viswanathan, partner at Kae Capital. Also Read: Blinkit, Zepto pilot returns, exchanges to ace fashion ecommerce Old model, new infrastructure Flipkart-owned fashion etailer Myntra had introduced try and buy back in 2016 to attract traditional shoppers to online retail. However, the feature didn't scale up due to supply chain limitations, according to industry executives.'Back when Myntra launched 'try and buy', there was no hyperlocal delivery infrastructure. Deliveries were through national courier services. That model isn't feasible to try and buy unless you have your own hyperlocal delivery fleet,' the founder of a fashion delivery startup said on condition of founder added that while Myntra operated from large warehouses located on the outskirts of cities, the new-age supply chains are built within cities, allowing faster deliveries and enabling features like try and buy. By the end of last year, Myntra had launched M-Now, an ultra-fast delivery service currently live in Bengaluru, Mumbai and Delhi, with pilots in other cities. The company said daily orders through M-Now doubled in the last quarter. 'Although it's still early, our observations so far suggest that the quick delivery model, with its reduced wait time, attracts high-intent customers, leading to naturally lower return rates,' said a spokesperson for etailer did not confirm whether the try-and-buy feature is being tested under M-Now. Viability concerns persist Despite the benefits, the long-term viability of these features is open to question, experts said.'There is a cost to also providing these services (like try and buy), and whether that becomes viable at all is a question mark at this point of time. I think that's what the concern is, and it has not been that viable,' said Devangshu Dutta, founder of Third Eyesight, a management consulting firm focused on consumer goods and retail added that when platforms offer the try-and-buy feature, delivery executives have to wait while customers try on products, which increases the cost per delivery and reduces the number of deliveries that can be completed. Despite that, some items may still be returned, further impacting operational startups are experimenting with these features mainly on higher-margin products to offset operational costs, Dutta said, as return rates across fashion categories can range from under 10% to as high as 40% for certain items. Also Read: Rapid fashion delivery gathers pace, but long-term viability in question Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Can Chyawanprash save Dabur in the age of Shark-Tank startups? Why Air India could loom large on its biggest rival IndiGo's Q1 results Apple has a new Indian-American COO. What it needs might be a new CEO. How India's oil arbitrage has hit the European sanctions wall Central banks' existential crisis — between alchemy and algorithm Short-term valuation headwinds? Yes. Long-term growth potential intact? Yes. Which 'Yes' is more relevant? Stock Radar: This smallcap stock breaks out from Flag pattern to hit fresh record high in July 2025; time to buy or book profits? For long-term investors: A moat of a different kind; 5 large-cap stocks with an upside potential of up to 38%
Time of India
3 days ago
- Business
- Time of India
Quick fashion plays trials with AI to win ‘no return' game
Academy Empower your mind, elevate your skills ETtech Startups in the 60-minute fashion delivery segment are betting on features such as 'try and buy' and artificial intelligence (AI)-powered virtual try-ons to tackle high return rates, a key pain point in the segment. These tools are helping increase conversion rates and reduce returns while offering greater flexibility to buyers, said industry Knot , which recently raised funding from venture capital firm Kae Capital, said partner brands that typically see return rates of about 20% on their direct-to-consumer websites are witnessing sub-1% returns through offline stores, a trend it is now replicating through these digital features.'Our partner brands, which have offline stores, would typically witness 20% returns on their direct to consumer websites. But for the same purchases on offline stores, the returns are less than 1%. That is the idea. With the 'try and buy' feature, users can make a very decisive purchase at their doorstep,' Archit Nanda, CEO of Knot, told rates among users of the company's virtual try-on feature are similarly much lower than the platform's overall user base, he venture-backed quick fashion delivery startups such as Bengaluru-based Slikk , Mumbai-based Zilo and Gurugram-based Zulu Club are also testing similar features to increase conversions and reduce returns.'Returns play as big a part as maybe forward delivery does. Because these are expensive products, giving the customer his or her money back also plays a very critical role,' said Akshay Gulati, cofounder and CEO of is piloting an 'instant returns' feature where, like its 60-minute delivery service, returns are also completed within an hour. Once a return request is made on the app, a delivery partner picks up the product and refunds the amount instantly. The startup claims its return rate is 40-50% lower than that of traditional marketplaces and that it doesn't charge customers any extra fees for users said they were satisfied with the delivery speed and trial window but pointed out that the app does not provide any return status updates until the product reaches the warehouse."I received my order within 60 minutes and had enough time to try it out. However, after returning the product, I didn't receive any notification in the application until the delivery agent reached the warehouse," said Mohammed Shibili, a working professional based in Bengaluru, who tried Slikk's tracking the segment estimate that try-and-buy and virtual try-on features can reduce return rates by 15-20 percentage points, translating into substantial cost savings for both platforms and brands.'Features like try and buy are a huge cost save, not just for the platform but also for the brand. The brand otherwise would lose that inventory till it comes back and can't make the sale on it. But now, that's all getting quickly turned around. So, for the brand, it's a win-win situation as well as for the customer where the money is not getting stuck till it gets the returns refunded,' said Sunitha Viswanathan, partner at Kae fashion etailer Myntra had introduced try and buy back in 2016 to attract traditional shoppers to online retail. However, the feature didn't scale up due to supply chain limitations, according to industry executives.'Back when Myntra launched 'try and buy', there was no hyperlocal delivery infrastructure. Deliveries were through national courier services. That model isn't feasible to try and buy unless you have your own hyperlocal delivery fleet,' the founder of a fashion delivery startup said on condition of founder added that while Myntra operated from large warehouses located on the outskirts of cities, the new-age supply chains are built within cities, allowing faster deliveries and enabling features like try and the end of last year, Myntra had launched M-Now, an ultra-fast delivery service currently live in Bengaluru, Mumbai and Delhi, with pilots in other cities. The company said daily orders through M-Now doubled in the last quarter.'Although it's still early, our observations so far suggest that the quick delivery model, with its reduced wait time, attracts high-intent customers, leading to naturally lower return rates,' said a spokesperson for etailer did not confirm whether the try-and-buy feature is being tested under the benefits, the long-term viability of these features is open to question, experts said.'There is a cost to also providing these services (like try and buy), and whether that becomes viable at all is a question mark at this point of time. I think that's what the concern is, and it has not been that viable,' said Devangshu Dutta, founder of Third Eyesight, a management consulting firm focused on consumer goods and retail added that when platforms offer the try-and-buy feature, delivery executives have to wait while customers try on products, which increases the cost per delivery and reduces the number of deliveries that can be completed. Despite that, some items may still be returned, further impacting operational startups are experimenting with these features mainly on higher-margin products to offset operational costs, Dutta said, as return rates across fashion categories can range from under 10% to as high as 40% for certain items.
Time of India
16-07-2025
- Business
- Time of India
VCs find quick fashion in vogue; India's AI edge
VCs find quick fashion in vogue; India's AI edge Also in the letter: Quick-fashion delivery startups attract fresh VC capital Who's raising: In Gurugram, Zulu Club bagged $250,000 from TDV Partners. Silkk raised $10 million to fuel its 60-minute delivery model. Snitch raised $40 million to explore quick commerce. Newme pulled in $18 million to ramp up its Gen Z push. The shopper shift: On investors' radar: Also Read: Skilling, not just scale, will define India's AI edge: Coursera CEO Current standing: What's holding it back: Economic stakes: Gen AI courses are seeing faster uptake among women, hinting at a wider cultural shift. Coursera's partnerships with state governments, such as Kerala and Odisha, and clients like Reliance and Infosys, suggest momentum is building. Hart's take: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Top AI talent attracted not just by paycheques: Meta CEO Mark Zuckerberg Driving the news: He called Meta's lead in compute per researcher a 'strategic advantage.' While he acknowledged Meta's financial muscle as a key factor, he also highlighted the appeal of 'building a new lab from scratch' as a dealmaker. Also Read: Galacticos: Huge demand: India's wealthy tilt portfolios toward crypto The trigger: Bigger tickets: A hedge against volatility: Adoption at scale: Also Read: HCLTech eyes 15% of freshers for AI, specialist roles Driving the news: Hiring pulse: Financial snapshot: Net profit: fell 10% year-on-year to Rs 3,843 crore, missing estimates, Revenue: Rose 8% to Rs 30,349 crore, slightly ahead of expectations. Outlook for FY26: Revenue growth of 3–5% in constant currency, with EBIT margins in the 17–18% range. Quick-fashion delivery is drawing investor interest as a category ripe for reinvention. This and more in today's ETtech Top 5■ Zuckerberg pushes back■ The big, fat crypto bet■ HCLTech fresher plansInvestor interest is heating up in the quick-fashion delivery space , as startups promise curated, on-trend styles delivered Knot just raised $3 million in a round led by Kae Capital, with Sparrow Capital and the founders of Snitch, Souled Store, and Bonkers Corner also backing the startup. Knot plans to expand to Delhi, Bengaluru, and Pune.'Shopping is no longer about casual browsing. It's event-led, mood-driven and shaped by what people see on Instagram,' says Knot's cofounder Archit model borrows from the same playbook that transformed grocery delivery, this time with fashion in its sights – a sector long due for a shake-up. Agile delivery, trend-first merchandising, and the promise of instant gratification are fuelling this fresh capital HartIndia could become Coursera's biggest market by 2026, says CEO Greg Hart, but only if it plugs critical gaps in AI skills The country already has 30 million users, second only to the US, and is growing at 20% annually. Yet, on Coursera's AI Maturity Index, India ranks 46th, trailing countries like Japan and hurdle isn't scale, but readiness. India's deep pool of IT talent has yet to translate into strength in generative AI, a key area for future job opportunities and economic believes India could add $1.5 trillion to its GDP by 2030 through AI, a significant lift for its $4.1 trillion economy. And, there are bright spots:'India has the foundation; adding AI on top can create the workforce of tomorrow,' he Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship an intensifying scramble for top artificial intelligence (AI) talent, Meta CEO Mark Zuckerberg has pushed back against the idea that big money alone is luring researchers to his newly launched Meta Superintelligence an interview with The Information, Zuckerberg argued that access to vast compute power gives researchers greater losing ground in the race for artificial general intelligence, Meta has gone on the offensive. It has pumped billions into AI firms like Scale AI and pulled in star talent from OpenAI, DeepMind, and urgency isn't alone. Speaking at a SoftBank event alongside SoftBank's Masayoshi Son, OpenAI chief Sam Altman pointed to the voracious global appetite for AI . Altman, also Son's business partner, stressed that as the technology becomes cheaper and more powerful, the pressure to scale infrastructure and compute will only high-net-worth individuals (HNIs) and family offices are leaning deeper into crypto , as traditional assets such as equities, gold, and bonds offer limited near-term president Donald Trump's pro-crypto pivot after last year's US election win triggered a global rally. Bitcoin shot past $120,000 , nearly doubling in value over 12 months. That momentum has shifted the mood in India too – from 'why crypto?' conversations turning into 'how much and where?' says Atul Ahluwalia of holding Rs 50 lakh–Rs 1 crore or more in digital assets make up nearly half of CoinDCX's trading volume. The platform's institutional and family office clientele has jumped 50%, according to cofounder Sumit is increasingly seen as a macro hedge. On Mudrex, Bitcoin, Ethereum, and Solana make up nearly 70% of HNI portfolios, according to Pranjal Agarwal, the exchange's India market led the world in crypto adoption in 2024, with 119 million investors, nearly 20% of the global holders. Retail may dominate by volume, but the big money is seemingly calling the is earmarking around 15% of its fresher hiring for specialised and AI roles , in response to the rising demand for advanced tech skills.'The general assessment is that 15–20% of talent supply is AI-ready, and we're tracking close to that,' chief people officer Ram Sundararajan said during the company's post-results firm has been cultivating an 'elite cadre' of engineers, offering freshers three to four times the typical starting pay. While there's no fixed target, Sundararajan indicated this share could rise to 20% depending on availability. In Q1 FY26 , HCLTech onboarded 1,984 freshers, bringing its total workforce to 223,151, slightly lower than the March quarter. Attrition dropped to 12.8%, one of the lowest rates in recent years.
Sky News AU
11-07-2025
- Entertainment
- Sky News AU
‘My son, the Prince of Wales': King Charles airbrushes Prince Harry from royal history during historic speech to mark French state visit
King Charles has omitted Prince Harry from a speech praising 'my son' Prince William during the State Banquet for French President Emmanuel Macron. The French President was joined by his wife Brigitte at Windsor Castle on Tuesday evening for a star-studded banquet attended by the entire royal family. The Prince and Princess of Wales were the main attractions during the banquet with Catherine dazzling in the Queen Mary Lover's Knot tiara and a show-stopping red Givenchy gown. The King began the evening with a speech to the French President and First Lady which touched on his elder son and heir while omitting the Duke of Sussex. During his speech to Mr Macron, Charles reflected on William's decision to choose historic Windsor as his family home. "The Castle in which we meet this evening was begun by my ancestor - and your sometime countryman - William, Duke of Normandy, in the year 1070," the King reportedly said at the start of the Banquet. "It remains the oldest and largest occupied castle in the world. "So it is perhaps rather appropriate that my son, The Prince of Wales, who shares that earlier William's name, has made Windsor his home with his family, like so many of our predecessors." While the Wales family live in bucolic Windsor, the Sussexes have opted for a more jet set lifestyle and call a $21 million Montecito mansion home. The pointed omission by the King marked perhaps the latest sign that the Sussexes have effectively been burned out of the royal family tapestry. On the official royal family website, the Sussexes are now listed at the very bottom of the family tree, next to the disgraced Prince Andrew. Meanwhile, the palace media team no longer publicly celebrates Harry or Meghan Markle's birthdays or other Sussex family milestones. According to royal insider Richard Fitzwilliams, the Duke of Sussex feels 'exiled' and increasingly role-less amid his ongoing estrangement from the monarchy. "(Harry) is in exile," Mr Fitzwilliams told Fox News Digital on Wednesday after the banquet. "Undoubtedly, he has some regrets. 'He appears to have lost touch with many of his friends and, of course, there is the royal rift."
Business Insider
28-06-2025
- Business
- Business Insider
Inside Jeff Bezos and Lauren Sánchez's Venetian vows
Welcome back! It's a hot one, so I'm sure you're cooling down with water. Turns out, picking the right bottled water isn't all that easy. One reporter tested out seven kinds and crowned his favorite. On the agenda: Seven successful men shared with BI how they optimize their mornings. Luxury gyms are becoming the new third space for many young people. Partiful, Luma, Paperless Post: How online invitations became a splintered mess. Newly built homes are changing, but homebuyers really want these four features. But first: Wedding bells. This week's dispatch Inside a billionaire's Venetian vows We're all just nosy, huh? It's why the world has been watching as Amazon founder Jeff Bezos and former newscaster turned philanthropist Lauren Sánchez got married in a not-so-private event spanning three days in Venice. "This magical place has gifted us unforgettable memories," Bezos and Sánchez, who met in 2019 and got engaged in 2023, said on their wedding invitation about the floating city. Some 200 guests were expected to attend the festivities in one of the most romantic cities in the world, the city said in a statement. And A-listers were spotted as they touched down, including Tom Brady, Oprah Winfrey, Kim Kardashian, and Ivanka Trump with Jared Kushner. There's no telling how much the billionaire's wedding celebration will cost, but reported estimates range from $11.5 million to $35 million. Luxury wedding planner and founder of Italian Knot, Roberta Camille Lione, told BI that although the latter figure feels a bit high, it's "not impossible — especially if the couple is sparing no expense across accommodations, logistics, entertainment, and design." Still, not everyone is thrilled that Bezos and Sánchez have picked Venice for their wedding. Local protesters have erected signs across the city, including one that reads, "No space for Bezos." (Get it? Because he founded Blue Origin.) They've also said they plan to disrupt the nuptials. However, Jessica Testoni, who runs a small souvenir stall in Venice, told our senior reporter on the ground, Joshua Nelken-Zitser, that she hopes it's not the last celebrity wedding to happen in her town. "On this occasion, I'm happy Bezos and Sánchez are getting married here," she said. "It helps businesses like mine." It's an interesting perspective given this behemoth of a wedding is happening during so much economic anxiety. That said, whether you're watching on purpose or by sheer force, despite the secretive nature of the nuptials, here's one thing we know for sure: this type of extravagance may only come once in a lifetime. Morning routines FTW Seven successful men — from across industries including venture capital, equity research, and advertising — shared their morning rituals with BI, from running long distances to making latte art. Most said they're early risers, waking up between 5 a.m. and 7 a.m. Many said they started their days with exercise, though some shared creative habits like journaling. Tea or coffee is essential. The all-inclusive third space For many people, luxury gyms have become more than just a gym. Popular franchises like Equinox or Life Time offer amenities that go beyond fitness, like complimentary childcare services, tidy workspaces, and sometimes, poolside bars. Even if it takes extra saving or tight budgeting to afford a $200+ a month membership, these luxury gym goers say it's worth it. More than a gym. Only threw this Partiful 4 u Young people are sending invites to everything from "Love Island" watch parties to scheduled cry sessions. There's a whole class of apps to support this invitation overload — Partiful to Luma and Apple Invites, to name a few. While it might not matter which platform your party invite is on, the glut of invitations is making it harder to understand what's expected of us at each social gathering. The new RSVP etiquette. Hot home trends for 2025 American homes look a lot different these days. Many newly built homes are not just pricier, but they're smaller, too. That doesn't mean buyers are sacrificing comfort and quality, though. The National Association of Homebuilders surveyed 3,000 recent and prospective buyers and found four home trends shaping homebuying right now. From smart tech to large kitchens. What we're watching this weekend "Barbara Walters: Tell Me Everything": This Hulu documentary puts a spotlight on the legendary broadcast journalist who never held back on asking tough questions, whether it was a world leader or a famous star. Marvel's "Ironheart": This Disney+ miniseries picks up with Riri Williams (Dominique Thorne), aka Ironheart, following the events of "Black Panther: Wakanda Forever." "The Bear": The much-anticipated fourth season of the acclaimed Hulu series is finally here and follows Carmy (Jeremy Allen White) as he continues his dream to run one of the best restaurants in Chicago. What to shop Heels you won't kick off at dinner: Our beauty editor walked for a mile in each pair she tested for our guide to the most comfortable heels. After a lot of distance and blistering, she narrowed it down to 18 styles. Sweat in style: Ditch the ratty old gym tee — investing in the right workout clothes will move with you no matter what exercise you're engaging in. These are the best brands to find them for women, from matching sets to workout dresses. Budget-friendly vacuums: After years of testing dozens of models, we know that you don't need to spend hundreds for reliable performance. The crumbs won't know how much you saved on these affordable vacuum cleaners. More of this week's top reads: Snack duty at my child's preschool nearly broke me. Then I decided to stop caring about kale chips. A woman did yoga every day for 5 years. Here's how her body and diet changed. I shopped at Walmart and Target to compare their Pride Month collections. They weren't easy to find. I made detailed plans for my 4-day solo trip to Spain, but some of the best moments happened when they fell apart. A man gained weight eating ultra-processed foods he thought were healthy. Now, he's 50 pounds lighter thanks to three habits. Pixar just had its worst opening weekend ever with 'Elio.' Are original movies dead? HENRYs with kids say 6-figure salaries just aren't cutting it. Getting tickets for fitness competitions like Hyrox is almost as hard as seeing Taylor Swift.
