Kavitha Rao Appointed as COO at 10Clubhomes
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siliconindia | Tuesday, 09 January 2024, 11:04 Hrs
10Club, an online-oriented brand focusing on home and kitchen products, has named Kavitha Rao as Co-founder and Chief Operating Officer. Rao, previously serving as the Managing Director for Retail at Accenture and the Chief Commercial Officer at IKEA India, is set to drive 10clubhomes' expansion into new product categories and its adoption of an omnichannel strategy. The Fireside Ventures-backed startup altered its business strategy in October 2023, aiming to establish a unified brand in the home and kitchen sector. Having secured $40 million in a seed funding round in 2021 and an additional nearly $30 million from US-based Olive Tree Capital and existing investors in 2022, the company is undergoing significant developments.
Established in 2020 by Bhavna Suresh, Joel Ayala from VC firm Class 5 Global, and Deepak Nair, 10clubhomes previously acquired five direct-to-consumer (D2C) brands within lawn and gardening, sports and fitness equipment, and baby products segments. Nair's departure as Co-founder from 10clubhomes was indicated on his LinkedIn profile. Following this strategic shift, the brand extended its reach to encompass fresh categories like kitchen accessories, decor, and serveware. Rao expressed, "We aim to broaden our offerings to include furnishing, organizing, bathroom essentials, and potentially lighting, striving to establish a recognized consumer brand in the home sector."
The company asserts that nearly 95% of its current Stock Keeping Units (SKUs) are sourced from Indian manufacturers. Rao highlighted, "Over the past five years, our capability to procure materials from Indian suppliers has significantly expanded." Additionally, the brand is contemplating venturing into quick commerce channels, apart from online marketplaces and its website. In October 2023, the company initiated its offline presence through a store-in-store model in partnership with mattress brand Wakefit. Rao stated, "We are planning to launch independent brand stores by the first quarter of the upcoming financial year." With this revised strategy, the brand targets a Gross Merchandise Value (GMV) sales figure of Rs 100 crore in FY24, with intentions to double it in the following year. Furthermore, the brand is in the process of recruiting additional staff to support its growth plans, with the current employee count at 35.

