Our journey started at Myntra. While at Myntra, we realized that almost all brands and retailers in India were struggling with their inventory management. Most Indian players manage to rotate their inventory 2-3 times a year, while global players like Zara rotates it 10-12 times. The fundamental reason was limited access of intelligent technology platform for Merchandising and for exposing single view of inventory for all sales channels (B2C and B2B).
We realized that there is a huge need for smart technology, focused on making supply very efficient through
a) accurate demand forecasting at most granular level and just in time supply
b) single view of inventory
c) warehousing anytime, anywhere being closer to end customer.
INCREFF was founded in August 2016 by former Myntra executives Rajul Jain and Anshuman Agarwal, and former Trilogy executive Romil Jain.
INCREFF is backed by Binny Bansal (Flipkart Co-Founder), Sailesh Tulshan (021 Capital) and Sequoia Capital.
“INCREFF is a great example of the type of technology-led, disrupting businesses that we like to invest in”
– Binny Bansal, Co-Founder, Flipkart
“Though all industries are unique in their own way, the fashion industry has a unique seasonality to it. To prevent wastage and unsold stocks, manufacturers have to have a firm grip on forecasting trends (by style, size and color etc.), which obviously have to be tied to stocking decisions at the outlet level. INCREFF has built a technology solution to this many-variable problem. User brands will see the efficiency gains flowing directly into their P&L, and we are happy to be fellow travelers in this journey.”
– Sailesh Tulshan, Founder, 021 Capital