Yebhi officially announced that it has changed its business model. From an E-commerce marketplace it has now become a coupon store and a product aggregator for other online stores. Yebhi’s Co-Founder Danish Ahmed, has now stepped into the CEO position, replacing former CEO, Manmohan Agarwal, who has now assumed the position of MD.
“Fashion etail has evolved significantly in India and customers are seeking more information and engagement before purchasing a product,” said Danish Ahmed “They want to access to the largest variety, pay the lowest price and buy the trendiest product in the market. We are changing Yebhi to address these customers. We are bringing them variety from all the online and local stores, showing them prices with discounts & offers across these stores, and guiding them to products that would most suit their tastes, social circles and body structure.”
He further added “E-Commerce is a very capital intensive industry and companies will continue to burn a lot of capital to acquire more customers. We decided to move out of that space, and leverage our learning’s and brand value to build a business that’s highly profitable and scalable. We are building a business which is capital efficient & at the same time consumer efficient in today’s scenario.” Besides having coupons from portals like Flipkart, Myntra, Jabong etc. the company is also listing products from these sites.
Related Tags:business model, E-commerce marketplace, online stores, Co-Founder Danish Ahmed, Manmohan Agarwal, Flipkart, Myntra, Jabong