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Online fashion portal Yepme sponsors West Indies cricket team for Rs 30 crore

Online fashion portal Yepme has reportedly sponsored the West Indies
team for the ICC Cricket World Cup 2015 in a bid to increase its brand reach
and customer base.

Online fashion portal Yepme has reportedly sponsored the West Indies
team for the ICC Cricket World Cup 2015 in a bid to increase its brand reach
and customer base.

The campaign will reportedly cost Yepme
about Rs 30 crore and is the brands second big move in marketing after roping
in Bollywood star Shah Rukh Khan as its brand ambassador in December last year,
reports the Economic
Times

“Since we are planning to expand our
merchandise internationally, this move massively helps us improve our
viewership and branding,” Sandeep Sharma, Co-Founder and COO at Yepme.com
was quoted in the report as saying. “A commercial may be carried only in
India but sponsoring a team ensures reach to all geographies.” 

According to Yepme investors, after the
Shah Rukh Khan tie-up and subsequent launch of a television campaign with him
in December, the brand’s sales have doubled. 

“In
December, Yepme expected about Rs 16 crore in GMV (gross merchandise value), up
about 90% from November,” a undisclosed Yepme investor told the Economic
Times. The investor also added that the number of online searches have also doubled
to about 1 lakh.

Sales through partnership sites have also reportedly
gone up after the last tie up.  According
to Sharma, the company will record revenue of $6 million for March. Next year,
it targets to reach $130 million in annual revenue. Sharma expects the West
Indies sponsorship to take the company’s revenues to the next level. 

Launched in August 2011, Yepme now delivers close to 500,000
units to its customers every month. Yepme which sells apparel, watches,
spectacles and footwear, has so far raised about $40 million of venture funding
from Helion Ventures, Capricorn Investment, Eric Semler’s TCS Capital and
Jonathan Soros-backed JS Capital.

According to the report, the company has begun its roadshow
to raise $100 million in funding. It has spoken to Japan’s Softbank and New
York based hedge fund Tiger Global.

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