What we do Net Avenue Technologies Ltd operates online direct-to-consumer e-commerce platforms selling Indian ethnic wear and accessories globally, catering mainly to the South Asian diaspora in key international markets. |
Founded in 2,001 |
Market share Recognized as one of the fastest growing Indian ethnic wear brands in the US, with a strong international presence. |
Problem solved Provides authentic, customizable Indian ethnic wear accessible globally through online platforms with quality control and direct shipping. |
Top clients or who we serve Primarily serves B2C customers in the United States, United Kingdom, Australia, Canada, and India targeting South Asian diaspora. |
Key management Rajesh Nahar (Chairman cum Managing Director), Ritesh Katariya (Whole Time Director), Murali Rajagopalachari and Riya Jain (Independent Directors). |
Our journey and innovations Started as a private company in 2001; converted to public in 2023; launched popular platforms including cbazaar.com; introduced private label and made-to-order models. |
Where we operate Global operations with primary markets in USA, UK, Australia, Canada; corporate offices in Chennai and Surat, India. |
Top products or what we offer Indian ethnic wear including lehengas, salwar kameez, gowns, kurtas, sherwanis, kids wear, and accessories under private label and third party vendors. |
Top brands cbazaar.com (#1 rated US online Indian ethnic wear store), ethnovog.com; presence on Myntra, Nykaa, Ajio among others. |
Raw materials needed Fabrics for manufacturing ethnic wear products, sourced and stored in-house for private label production. |
Raw materials supplier Local fabric suppliers and textile vendors supporting private label production. |
Recurring vs cyclical contribution Revenue is primarily from one-time consumer purchases with some recurring customer repeat orders. |
Our industry position Emerging leader in online ethnic wear with strong niche brand recognition in key global diaspora markets. |
Financial highlights Revenue approx. INR 26.19 Cr (FY 2023-24), net loss INR 1.58 Cr reflecting investment phase post-IPO in 2023. |
Geographical revenue split Majority revenue from international markets including USA, UK, Australia, Canada; Indian operations smaller but growing. |
Order book - |
Whats driving growth Rising global demand for Indian ethnic fashion, increased digital penetration, and expansion via e-commerce marketplaces. |
Our future plans Scaling product catalog, growing international market share, increased marketing spend, optimising supply chain and third-party partnerships. |
Our green promise - |
Our people and values Focus on employee engagement through ESOP policy fostering ownership; adherence to workplace safety and anti-harassment policies. |
Key challenges ahead Market competition, reliance on international shipping, currency fluctuations, and scaling marketing in slow demand periods. |
Interesting facts Cbazaar.com named one of the best online shops in the US (2020) and fastest growing brand (2022). |
Risks and strategy Mitigating risks by diversifying vendor base, enhancing digital marketing, and maintaining quality control and customer service. |
