Yepme

About Yepme

Yepme, operated by parent company VAS Data Services Private Limited, was an early entrant into India's online fashion market, launching in 2011. The company was established by a trio of founders: Vivek Gaur, Sandeep Sharma, and Anand Jadhav, who combined their expertise in online ventures, technology, and apparel merchandising to build the brand. Gaur, an alumnus of IIM, Lucknow, brought experience from HT Media and Hindustan Unilever. Sharma, an alumnus of IIT Delhi and IIM Bangalore, had a background in technology and operations with firms like Accenture and Sapient. Jadhav contributed extensive retail and merchandising experience from roles at major retailers like Shoppers' Stop and Reliance Trends.

The business operated as an internet-first, private-label fashion brand focused on making trendy apparel, accessories, and footwear accessible to the youth in India. Its business model centered on direct-to-consumer online sales, which allowed for better margins compared to marketplaces selling third-party brands. The product range was extensive, covering everything from shirts, jeans, and ethnic wear to watches, sunglasses, and bags for both men and women. Yepme's strategy specifically targeted customers in Tier 2 and Tier 3 cities, areas with less access to physical stores of major apparel brands. A significant portion of its orders originated from these smaller towns, serviced through a logistics network that included India Post for wider reach.

After its initial launch, Yepme gained considerable traction, raising approximately $134 million over eight funding rounds from investors including Helion Venture Partners and Malaysia's sovereign fund, Khazanah Nasional Berhad. The company pursued an aggressive growth strategy, which included an omnichannel approach of opening physical stores to complement its online presence. However, the company faced significant operational and financial difficulties. By 2017, reports emerged of cost-cutting measures, including shutting down offline stores, reducing warehouse space, and employee salary delays. These challenges culminated in the company scaling down operations significantly. In April 2019, an insolvency petition filed by an operational creditor against VAS Data Services Pvt. Ltd. was admitted, leading to liquidation proceedings.