The quick fashion e-commerce delivery startup, Blip has shut down its operations after the announcement by its co-founder Ansh Agarwal.
The announcement was done via a LinkedIn post by Ansh Agarwal, as per which Agarwal mentioned closing the operations within a year of its starting. Agarwal cited lack of capital as the major reason for closure. He also added that apart from limited working capital, the inefficient go-to-market execution was among the reasons for this tough decision of closing down.
Blip, which operated on the model of reliance on a network of retail partners as against having its own inventory, was met with a list of challenges like buy-in from retailers and convincing stakeholders to embrace their one-of-a-kind integrations, which proved to be slower than their expectations.
With Blip’s failure to sustain itself in the fashion e-commerce market, the founder of Snitch, Siddharth Dungarwal expressed that in the polls they conducted with users, it was revealed that the majority don’t do last-minute clothes shopping except in the case of sudden plans or urgent requirements.
However, the fashion e-commerce space still seems to be booming with Myntra, Newme, Ajio, and Nykaa among others going forward with the ultra-fast fashion delivery approach. In fact, recently Bengaluru-based fashion delivery startup Slikk received a funding of USD 10 million from Lightspeed and Nexus Venture Partners. Agarwal also added that while he had to close down the platform, he still believes that there’s potential in this space.
