SPOYL

SPOYL operates as a multifaceted fashion e-commerce entity, demonstrating a significant pivot in its business model since its inception.

Founded in 2015 by Bhargav Errangi and Sumit Agarwal, the company initially launched as a mobile-only marketplace for fashion recommerce, targeting women looking to buy and sell gently used apparel. Errangi, a graduate of Georgia Institute of Technology with prior experience as a Product Manager at Intuit, served as CEO, while Agarwal took on the role of CTO. The venture secured a total of $6.2 million over four seed funding rounds from investors including TLabs, Sequoia Capital, Rocketship.vc, and Kimberlite. A notable early milestone was the 2016 acqui-hire of Revamp My Closet, which brought in fashion domain expertise and expanded its user base.

Recognizing that influencers drove a majority of its transactions, SPOYL pivoted to an influencer-led commerce model. The platform evolved to empower fashion influencers and celebrities to monetize their personal brands by launching their own labels, with SPOYL managing the end-to-end e-commerce operations, from supply chain and content creation to distribution. This strategy involved collaborations with prominent personalities to create and market exclusive collections.

However, facing challenges in scaling the celebrity-led model, the original company was reported to be exploring an acquihire in early 2020 and is now considered deadpooled. Subsequently, the brand 'SPOYL' was repurposed by e-commerce giant Flipkart. In August 2023, Flipkart launched SPOYL as an app-in-app fashion vertical specifically targeting Gen Z consumers. This new iteration operates within the main Flipkart application, offering over 40,000 products, including trendy western wear, accessories, and footwear. The platform features a distinct user interface with gender-agnostic navigation and leverages technology like image search and video commerce to engage its target demographic. This move aligns with the growing market trend of catering to Gen Z, who represent a significant portion of online shoppers in India.

Keywords: influencer commerce, fashion e-commerce, Gen Z fashion, mobile marketplace, apparel recommerce, celebrity fashion labels, online fashion, Flipkart, social commerce, direct-to-consumer fashion, Indian fashion market, startup, Bhargav Errangi, Sumit Agarwal, Sequoia Capital, fashion technology, digital retail, youth fashion, trendy apparel, online shopping