Why We Invested in Jollee
A curated marketplace for kid’s daily necessities
What is Jollee?
Jollee is a start-up that provides high-quality kids' wear and accessories customised to parents' choice after a quiz, personal call, and option to opt for a dedicated stylist. The company started operations in Feb'22 and within few months of launch onboarded dozens of suppliers and serving customers
Jollee's founder, Akriti Gupta, comes with significant experience in the child clothing line, having launched two clothing brands in the past and also started and scaled the child clothing vertical at Udaan.
The company's thesis is that kidswear is a complex category, people are paying for products that are going to be used for 3-4 months and quickly become unusable. Also, each child grows differently and has unique preferences. On the other side, these are all high LTV customers, thus she has come up with the concept of bundles. The company offers curated bundles of kids' wear and accessories customised to parents' choice after a quiz, personal call, and option to opt for a dedicated stylist. The bundles are designed to ensure that by the time parents are at the 3rd-4th bundle, there are no returns at all.
Why this Industry?
The Indian Kids Wear Market is a multibillion-dollar market and expected to grow at 6% annually. Rising disposable income of Indian households and changing lifestyles, especially in urban areas, is propelling the demand for Kids Wear in the country. Increasing westernisation, rising number of nuclear families and growing purchasing power is increasingly influencing consumers. Parents have started spending more on kids and want their kids to wear the latest fashion-branded apparel, and this trend is more prevalent in Tier I and II cities. Furthermore, increasing retail expansion and internet retailing is also contributing to the growth of the Kids Wear market in the country.
The total addressable market (TAM) for Jollee's product, which is high-quality kids' wear and accessories, is expected to be substantial. The Indian kids wear market is huge and is still expected to grow at 6% annually and Jollee has the potential to capture a significant market share.
Why we invested?
Akriti has been an expert in the kidswear segment, we feel there is a perfect founder-market-fit here. Given the pain point of parents and the founder's experience in scaling businesses in the sector it made a compelling case for us to come together . Dexter Angels had ordered Jollee's bundles and had a unique experience with the quiz that asked deeper questions about the likes and dislikes of the kids, giving more control in their purchase. The company's follow-up was constant, and the overall experience was good.
Dexter Angels has invested in Jollee as it believes in the company's potential for growth in the Indian Kids Wear Market. The founder's experience in scaling businesses in the sector and the pain point of parents makes Jollee an attractive investment opportunity. The company's unique concept of curated bundles and personalized services has the potential to capture a significant market share in the kids' wear market.