Berrylush: Scaling for Growth

“If Zara is fast fashion, Berrylush is ultrafast fashion. They cannot even dream of matching our time to
market.” – Alok Paul, Co-founder and COO, Berrylush Designs Private Limited

Launched in 2018, Berrylush Designs Private Limited (hereafter, ‘Berrylush’) is a relatively new
fastfashion brand operating in India. With a low time to market of only 60 days, Berrylush can bring in
new designs in existing categories and launch new product categories at lightning-fast speed. Being
primarily an online brand, they are not weighed down by the logistics of having enough stock at each
store in the country. On top of that, they can easily experiment with new product lines on their website at
a fraction of what it would cost a large brand with stores across the country. With an initial capital of only
INR 3 million, Berrylush has dispatched over 1.37 million units 2023.

In contrast, one of the largest fast fashion brands in the world, Zara, is globally known for their speed in
launching new products at their exclusive stores. Customers can view new product launches in their stores
every Thursday, and every weekend they flock in to see what’s new. However, what they do not see is the
time it took for Zara to get a product from initial design and production to stores across the world. These
weekly drops can take Zara a full year from design to availability in stores for sale.

The Beginning

Berrylush was founded by two young entrepreneurs who met while pursuing their MBA degrees in the
heart of the country at the Indian Institute of Management in Raipur. Anusha Chandrashekar had a
passion for fashion and aspired to a career in womenswear. Paul was convinced that e-commerce was the
future of retailing and wanted to start an online business. These two ambitious first-generation
entrepreneurs amalgamated their goals, and consequently, Berrylush Designs Private Limited, a direct-to-
consumer western wear brand for women, was born.

After graduating from the prestigious management institute in Raipur in 2015, Paul moved to the nation's
capital, New Delhi, in 2016 to begin the nascent journey of the now-popular womenswear brand. Paul and
Chandrashekar began initially by selling mostly winterwear garments on the established online platform,
Voonik, in 2017, generating sales of INR 450,000 in their first month.

Catering to young, urban women between 18 and 35, Berrylush aimed to provide them with empowering
clothing, encouraging them to express their lifestyle. Armed with one master pattern maker and four
tailors, they set up their first official design space in a modest 600-square-foot office and warehouse. With

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
a capacity of only 900 units a month, they decided to begin production for Berrylush in-house. On 15th
November 2017, the founders were able to onboard the brand onto Myntra. Myntra is India's premier
fashion and apparel website, with a consolidated revenue of INR 24.66 billion for the financial year
ending 2021. It is also backed by Flipkart, India's second-largest e-commerce marketplace. Berrylush's
co-founder and COO, Paul, vividly recalled that the brand sold a total of nine units on its first day on
Myntra, with the first unit sold being a dress.

In the summer of 2018, Berrylush moved from New Delhi to a larger space in Noida. In early 2019, as the
operations continued to expand, they moved to a larger location in Noida. Later in the same year, they had
added a second floor to their headquarters, and by the end of the year, they had expanded to occupy three
floors of the same building.

Operations

The Headquarters

The business’s physical operations were organised at the headquarters in the following manner. Two
entire floors of the space were dedicated to storing the finished products, organised first by product
category, then by colour, and last by size. The goal of Berrylush was to sell garments that please
customers, and since how the garment fits is a significant concern, a special team was put together to
manage returns. Their job involved inspecting the returned item for any damage or signs of use and
ensuring that it is fit for future sale by repairing, cleaning, and ironing the product before repacking it.
About 15% of the remaining space was allocated to managing returns. A team of twenty people was
responsible for this critical service, which incurred an expense of INR 500,000 every month.

Another 15% of the physical area was appropriated for storing materials such as fabric, zippers, buttons,
etc. Thirty per cent of the space was assigned to the dispatch of orders, with seven stations allocated for
this process. While the maximum capacity was 12,000 orders daily, the company would dispatch 5,000
orders a day until 2023. Another 30% of the remaining area was utilised for office space, which included
a conference room and departments such as the design unit, accounting, and customer support. The
remaining physical space had been reserved for the development of new product lines that have been
introduced, such as bags and belts.

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Partners

The brand continued to produce all its collections in-house till February 2021, when it discontinued in-
house manufacturing altogether. The first vendor for contract manufacturing that Berrylush used was a
company called Trois, which was run by a group of three friends of Berrylush’s founders. Trois
manufactured exclusively for Berrylush, and until 2023, had produced over 300,000 pieces for the brand.

Because of the sheer volume of their sales and the wide variety of items they retail on the website,
Berrylush had to outsource their production to manufacturing partners. The company worked with 28
different manufacturers, all of which were based in the Delhi NCR region.

Although all manufacturing took place outside the firm, a rigorous design process was carried out on the
top floor of their Noida office. It would begin with the in-house design team ideating and creating new
styles for their upcoming collection. Samples of the design were then created by the tailoring team that
operates alongside the design team. A minimum of 10-15 samples were created every day. The styles that
passed the approval process were then programmed into a high-end pattern maker, which created patterns
that were passed on to the contract manufacturers producing that particular piece. This control guarantees
uniformity in sizing and fits for all the pieces.

Multiple partners were involved in logistics as well. Myntra and eShopBox, which currently operate five
warehouses across the country, were the warehousing partners for Berrylush. For order deliveries, their
partner was Blue Dart Express, India's premier transportation and distribution service provider. Although
Blue Dart was priced at a premium, a cost that is absorbed by the business, the organisation nevertheless
chose to partner with them as their service is unmatched. They provided one of the quickest delivery
services in the country, allowing the organisation superior next-day delivery in most metropolitan areas in
India. On occasion, when a customer requested urgent delivery in Delhi NCR, Berrylush also used the
services of WeFast, an on-demand same-day intra-city express courier service.

Over and above the actual cost of the product, the two most significant expenses incurred by Berrylush
for sales on their platform were advertising and delivery, which make up 20% and 15% of the total cost of
an average order, respectively. Other costs included picking, packing, and shipping (2%), payment
gateway and cash-on-delivery (2%), and human resource expenses (1%). For sales on Myntra and
Flipkart, these e-commerce giants pay for all these expenses, but Berrylush incurs a cost of 45% for this
service (Exhibits 1 and 2).

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
In 2022, Berrylush also partnered with Franchise India to expand its physical presence across India.
Franchise India was one of Asia's largest all-encompassing franchise solutions companies. Berrylush has
also partnered with Ginesys for their accounting and IT needs, such as analytics, accounting, material
resource planning (MRP), order processing and warehouse management. Other partners that they relied
on were the mills from where they sourced all their fabric. These selected sources ensured uniformity in
the finished product and that quality standards were met.

Sales Channels

As can be seen in Exhibit 3, most of the sales revenue (80%) stemmed from Myntra, which can, in part,
be credited to the Myntra Brand Accelerator Program. The second most prominent sales channel was the
Berrylush website and application, which together made up 13% of the brand's sales volume. The third
largest volume of sales came from Flipkart.

Brick-and-Mortar Stores: Adopting an Omni-channel Strategy

Shopping online is usually an isolated experience. While many people enjoy it, the joy of shopping with a
loved one is unparalleled. After the spread of COVID-19 was reduced, the lockdowns and restrictions
were eased, and people began shopping in stores again. Furthermore, owing to the impact of the
lockdown, malls had store space available. The founders of Berrylush saw physical stores as their next big
opportunity. In August 2022, they took the plunge of expanding from online sales by opening their first
physical store, located close to their headquarters. The store’s location was strategically placed in a
bustling mall in the Greater Noida region of Delhi NCR. Since it was their first physical store, the top
management was keen to keep a close eye on its performance and provide day-to-day fine-tuning.

While it was still in its initial phase, the company found that the pilot store was a rousing success. For
every ten people who entered the store, 6-7 were pleased with the merchandise and made an actual
purchase. This kind of conversion was not seen on the website. The order size for the store was an
average of 1.9 items per customer, which roughly translated to an average order size of INR 1800 per
order. On the Berrylush website, these numbers were 1.3 items and INR 900, and on Myntra, they were
even lower at 1.0 item and INR 740, respectively.

This encouraged Berrylush to launch more stores in the country. By February 2023, Berrylush had
inaugurated its seventh store in India, expanding its physical presence from Noida to Hyderabad, Hisar,
New Delhi, Rohtak, Indore and most recently, Surat (Exhibit 4). Apart from the first store, which was

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
both owned and operated by the company (company-owned-company-operated model, COCO), all other
stores are owned by the franchise but operated by the company.

Having an offline presence aided an online brand like Berrylush in multiple ways. For the cost of placing
a large hoarding in the centre of a city, rent for the same time duration was paid, serving the same purpose
– brand visibility. The store allowed customers to see Berrylush products in person, try the clothes on,
and choose their size with the brand. This not only led to acquiring new customers and increasing in-store
sales but also to additional sales on the website. The physical stores could also act as warehouses for the
business in the future.

People

In their journey to build a global brand, the management at Berrylush realised that human resources were
one of their key assets. Thus, their employees were well compensated, and upskilling and creativity were
encouraged. For instance, Dinoj, an 18-year-old, started his career as a helper on the production team. He
then moved on to assist the warehousing team in order dispatching. Within three and a half years, Dinoj
had become a warehouse manager.

Most employees who joined the organisation at its nascent stage still worked there in 2023. Their first
employee was a master tailor. Not only was he still employed at Berrylush, but his many brothers also
worked either at Berrylush or its partner Trois. Several employees at Berrylush have seen a 300% growth
in salary over their time at the organisation.

Revenue Streams

Being a predominantly online brand afforded Berrylush a number of advantages. Brands that sell
primarily through physical stores often see a particular style do well, and then it gradually stops selling.
The store’s regular customers are constantly looking for the newest styles and trends, and older inventory
must be constantly removed to make space in the store for new items. In a digital marketplace, however,
every shopper can have a unique experience. Because of the dynamic nature of the online shopping portal,
the user's experience can be customised and personalised. Also, there is no dearth of space online - the
seller can stock as many products as they need and can quickly adapt to new customer demands.

The same product that might have a relatively short lifecycle in a physical store will experience a longer
one online. In an online marketplace, customers who like a particular product can write reviews and show
their satisfaction through ratings. These are then shared alongside the product to help guide customers in

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
making their purchases. As a result, highly rated and reviewed products end up seeing a relatively more
extended plateau period in their online lifecycle. A certain popular cocktail dress had been retailing on
Berrylush and its partner sites from 2020-2023, and about 1500 of these dresses, available in 30 colours
and prints, were purchased monthly. These numbers are only possible in e-commerce (Exhibit 5), and
inventory planning is thus an essential part of business for online stores, especially those operating in the
direct-to-consumer (D2C) space. They implemented technology-enabled material resource planning to
manufacture and replenish their inventory, resulting in a monthly average sell-through rate of 40%. For
Berrylush, it would take 30 days for the fabric to be sourced, and after that, 30 more days for the stitching
to be completed. A large majority of the sales volume was seen emerging from the dresses category. The
second most prominent category is tops, with skirts and jumpsuits making up the remainder (Exhibit 6).
As a result, six of the top ten largest selling products for Berrylush were dresses (Exhibit 7).

Opening their first bricks-and-mortar store had created an omni-channel experience for Berrylush
customers who could walk into a store, see what the brand had to offer and try it on to get the right size. If
a particular variant of a product was unavailable in the physical store, they could order it online right
away, and it would be shipped to their home within a few days. It created an ‘endless aisle’ for shoppers;
also called ‘buy in store, ship to customer’.

Industry and competition

One of the two unique selling points for Berrylush products was their affordability, while the other was a
good quality garment that fits well. Traditional (or national) brands that primarily sold in physical stores
would sell a dress for the price of INR 2999, and Berrylush would be able to sell a similar style for just
INR 999. Traditional brands operated in an ecosystem that began from their factory went on to their
distributor and wholesaler, and the product finally arrived at the retailer. By this point, there were many
added expenses such as logistics, payroll, real estate, unsold inventory loss, and profit for partners on each
level (see Exhibit 8).

On the face of it, it would seem that the direct competitors of Berrylush were any business operating in
India in the women's western-wear industry. However, the retail market could be broadly divided into
national brands and direct-to-consumer (D2C) brands. National brands are primarily offline products
stocked in brick-and-mortar stores and armed with celebrity backing and media coverage. They operate
season by season, and their online presence is relatively limited. They release a new collection each
season and do not have new clothing items every month. As a result, these brands are slower in their

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
response time. In contrast, D2C brands take quick action, by launching a new collection almost every
month. If there is a problem with a product, or there are too many returns for a product, they can swiftly
make changes to it. If there are complaints about a product's fabric, they can halt its production entirely.

Offline brands do not have the option of making changes to a product after its launch. They produce large
quantities of products for all their physical stores before the season begins and must attempt to sell that
inventory before any changes can be made. As a result, Berrylush considered D2C brands, such as
Sassafras, Athena, Antheaa, Marie Claire, Fab Alley, and Tokyo Talkies, as its direct competitors. D2C
brands strive to build a base of loyal customers. Brands like Berrylush have learned that their customers
like responsive support and quick resolution of problems, and they provide this via Whatsapp seven days
a week. Even e-commerce giants like Myntra cannot offer this level of service. For instance, due to their
size and scale, processing a refund would take Myntra up to a week, whereas Berrylush can do it
immediately.

Myntra Brand Accelerator Program

Out of the 3750+ brands that retail on Myntra's website, they handpicked a total of 13 brands to feature on
their brand accelerator program. As of 2023, the latest to jump on this bandwagon was Berrylush Designs
Private Limited. Following its success on Myntra, the brand decided to pause its sales on Amazon's
‘Cloudtail’ and exclusively retail on Myntra’s website and its parent company, Flipkart. The Myntra
Brand Accelerator Program offered significant benefits to its partner organisations by providing capital to
help finance future production and, more importantly, equip their partners with valuable insights. They
scheduled regular consultations with managers of the partner brands to help them predict the trends
expected in India so that they could get a head start on the competition.

They also provided insights on related categories for the brand. For example, Myntra's monitoring data
identified a substantial number of search queries for "Berrylush swimsuit" and "Berrylush swimwear". As
a result, the brand capitalised on this demand, and in 2022, Berrylush successfully launched its first
swimwear collection. Myntra’s data also helped in choosing price points for future collections.
Information on which styles had higher return rates and the reasons allowed Berrylush to make product
changes to reduce the return rate. Industry-level insights were also shared, along with an assessment of
their importance. For instance, a partner company could learn the industry-level return rate for dresses to
compare it with their own rate, and if it was higher or lower, they could make suitable adjustments.

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Impact of COVID-19

A nationwide lockdown was imposed in India in March 2020 to quell the coronavirus pandemic. From
24th March till the end of April 2020, the business saw zero revenue as even online sales came to a halt.
While this continued in phases till later in the year, some businesses, factories, and workplaces were
permitted to resume operations on 5 May 2020. Berrylush was able to receive the required authorisation
and was able to restart its operations. However, they were only allowed to have five employees on the
premises. Because of that, operations resumed with only two employees from the warehousing team, two
from the production team and the co-founder, Paul. The office space was regularly sanitised and masking
was mandatory to restrict the spread of the virus.

At that time, each district in the country was categorised into one of three distinct zones: red, orange, and
green. No deliveries could be made to people living in red zones as these were considered hotspots for
transmission of infection. To people residing in orange zones, only essential deliveries could be made.
Since clothing does not fall under the essentials category, Berrylush could only deliver in the green zones.
As a result, deliveries were possible only in a fraction of the original areas. Even where deliveries were
possible, there were delays due to breaks in the supply chain and last-mile delivery rates were affected for
multiple reasons. There was a shortage of people to work in dispatch and delivery, due to an unexpected
increase the in the volume of deliveries, especially for essentials, as people were unable to leave their
homes. In some areas, there were delivery delays of up to twenty days. Despite this, customers did not
cancel their orders, which inspired the brand to start a campaign encouraging potential shoppers to
support online shopping. As a result, previous customers made repeat purchases in spite of knowing that
deliveries could be delayed 2-3 weeks.

Contrary to predictions, the year 2020 proved to be exceptionally good for the brand. Many Indians, who
prior to 2020, may not have been comfortable shopping online, had been pushed to buy essentials such as
groceries and medicines online. Such customers then went on to buy other things online, such as clothing.
According to co-founder Paul, "For the growth of e-commerce in India, what would have taken ten years
was compressed to two years due to the pandemic". Berrylush witnessed a growth rate of 700% and the
founders credit this to the fact that they had enough stock on hand to be able to start dispatching orders
immediately. When the first lockdown was imposed, their warehouse had over 25,000 units ready to be
shipped.

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
In achieving such growth, employees played a key role. The pandemic presented a whole new set of
challenges for the business. Employees who were used to having lunch outside were unable to do so
during the lockdown; so, for the convenience of the workers, a canteen was set up on the premises, and a
subsidised lunch was provided to each employee.

Before the onset of COVID-19, 70% of sales were paid for in cash using cash-on-delivery (COD) as the
payment mode, with the remaining 30% of the orders paid for online. After the pandemic, these numbers
were flipped so that only 25% of the orders were settled in cash, and the other 75% were paid for using
debit cards, credit cards, online wallets, or via the unified payment interface (UPI).

Roadblocks in the Journey

Operating in the hypercompetitive marketplace of e-commerce and growing at the pace that Berrylush has
seen since 2020, there are bound to have been some challenges on the way. Since revenue depended
heavily upon production, any setback in the manufacturing process could be an impediment to an
increasing growth rate. A proper timeline must be followed to ensure stable production. When the
organisation first started using fabricators, a vendor delayed delivery by five months. By the time their
summer collection was ready to be launched online, it was already August. Such a delay for a largescale
business can cause a significant loss of revenue and existing customers and result in the wastage of
products as it would not be possible to sell all existing units. It is also necessary that cash flow is
maintained to fund production. Necessary articles such as fabric, zippers and buttons must be sourced
ahead of time, and vendors such as contract manufacturers must be in place and able to perform the work.

The industry has been facing a considerable shortage of skilled tailors, which leads to delays on the
manufacturing’s end that affect the entire supply chain. Consequently, scaling up can become
increasingly challenging. Accurate projections are necessary for a well-planned inventory, especially for
an online brand, which means that Berrylush has to ensure strategic inventory planning at the stock-
keeping unit (SKU) level. The sales performance of each SKU is routinely measured over three different
periods: 90 days, 30 days, and 7 days. Based on the sales rate of each SKU over these times, future
inventory is planned. It is imperative that sales for an SKU are never interrupted--if there is demand for a
product, it should be available. Similarly, a product SKU must remain in stock for a period of 90 days. To
ensure this, the brand follows a dynamic pricing model.

Significant levels of inventory have to be maintained by Berrylush three times a year: during Myntra's
end-of-season sales in June and December and during the festive season in September and October. To

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
pay for this high level of inventory, funding has to be raised by CFO Anan Paul, who has been a part of
the organisation from its inception (Exhibit 9). Traditional banks such as ICICI and HDFC Bank are
used, as well as new-age revenue financing companies such as Klub and Velocity, which allow quicker
access to funds, compared to traditional banks. Even after completing paperwork formalities, traditional
banks could take two weeks to release funds. In contrast, these contemporary revenue financers connect
directly to the organisation's dashboard on their website, offer quick underwriting, and release funds in 3-
5 days. Despite having access to multiple sources of funds, managing cash flow is still a challenge and
must be handled meticulously.

The Path Ahead

The first milestone that the organisation celebrated was receiving its first 1000 units-a-month order back
in 2018. By 2022, they had already fulfilled over 1.8 million orders. Another more recently achieved
milestone was accomplishing a year-on-year growth rate of 100% (Exhibit 10). Berrylush aims to have
50 stores in operation in the next two years. Their goal is to operate five of these independently and have
the rest run as franchises. Meeting this target of 50 stores is vital to doubling the present revenue
numbers.

The company also plans to expand its current selection of products. Until now, the primary focus had
been clothing, but the plan now is to diversify into related goods. They have recently started selling a
trendy selection of bags and belts on their website, as well as fragrances (Exhibit 11). Since size and fit
are not concerns for these three categories, the brand hopes to see fewer returns and higher profit margins
on these products. A brand extension is also under development with plans to launch a new line for
teenagers that would extend their target market.

Until recently, the company had only retailed summer clothing, but now the brand has also ventured into
winterwear, such as sweaters and jackets. In August 2022, Berrylush launched a new sub-brand called
Berrylush Curve, which targets the important niche market segment of individuals in sizes from XXL-
7XL. Currently, this new sub-brand still has only a limited offering, but its expansion is in the works.
While the Curve line comprises only 5% of the company’s total inventory, it is responsible for a
whopping 33% of the total website sales. Previously, the most searched term on the Berrylush website
was “dress”, it has been replaced by “Berrylush Curve”. Interestingly, the most sold size on the website is
their largest size, 7XL. They have also launched a line of perfumes.

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Berrylush ultimately aims to achieve its next big milestone--growing its business to become a global
brand with cross-border sales while ensuring a rewarding work environment for its employees. However,
there are some concerns for the brand’s future in this race to get ahead. Most of their sales are currently
on Myntra. If Myntra faces problems in the future, Berrylush will unquestionably be affected. At present,
the company is a part of the Myntra brand accelerator program, but inclusion in this program is only for a
limited time. Once that ends, they would no longer have access to the analytics and insights they presently
receive from the e-commerce giant, and this could have a negative effect on future revenue. Fashion
brands have begun to leverage the power of artificial intelligence in terms of advanced data analytics, to
monitor customer behaviour and predict future trends. Berrylush will have to do the same to stay ahead in
the game.

Exhibits

Cost of Goods Sold

2% 1%
2%

15%

20%
65%

Product cost Advertising

Delivery Pick, pack, ship
Payment gateway and cash on delivery Human resources

Exhibit 1. Cost of goods sold on Berrylush.com

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
 Financial year 2021-22 Financial year 2020-21
Particulars Amount Amount
(INR) % (INR) %
Revenue from Operations 36,65,53,510 100% 16,42,59,573 100%
Cost of Sale 14,55,37,406 40% 7,06,74,762 43%
Opening Stock 7,09,80,789 19% 40,26,485 2%
Purchases 9,74,81,023 27% 10,74,65,090 65%
Job Work 5,78,38,714 16% 3,01,63,976 18%
(Closing Stock) 8,07,63,120 22% 7,09,80,789 43%
Gross Margin 22,10,16,104 60% 9,35,84,811 57%
Gross Margin (%) 60% 57%
Overhead 17,71,38,241 48% 8,10,58,357 49%
People 1,59,08,757 4% 1,29,43,605 8%
Facility 1,14,61,286 3% 12,00,000 1%
Advertisement/Marketing 1,19,61,023 3% 20,27,250 1%
Commission 2,73,14,102 7% 1,20,75,550 7%
Delivery & Logistics 7,57,32,134 21% 3,11,19,775 19%
Other Expenses 3,47,60,938 9% 2,16,92,177 13%
EBITDA 4,38,77,863 12% 1,25,26,454 8%
EBITDA Margin% 12% 8%

Exhibit 2. Income statement of Berrylush Designs Private Limited

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
 5%
7%
8%

80%

Myntra Berrylush Website Flipkart Berrylush App

Exhibit 3. Distribution of Berrylush's sales channels distribution

Exhibit 4. Map showing the physical locations of seven Berrylush stores in India: Hisar, Hyderabad, New
Delhi, Indore, Noida, Rohtak and Surat

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Exhibit 5. The most sold style by Berrylush available in nearly thirty variants (retrieved from
myntra.com)

10%

7.50%

7.50%

10%
65%

Dresses Tops Skirts Jumpsuits Other: accessories, perfume, swimwear, winterwear

Exhibit 6. Berrylush sales volume by item category

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Exhibit 7. Top ten highest selling products for Berrylush as of March 2023

Debt Type FY 2020-21 (in INR) FY 2021-22 (in INR)

Bank Debt 180,30,000 270,30,000
Revenue Based Financing 0 260,00,000
Total 180,30,000 530,30,000

Exhibit 8. Debt raised for FY2020-21 and FY2021-22

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Exhibit 9. Comparison between traditional brand pricing and Berrylush pricing

700 640

600

500

400 365

300

200 165

100 45

0
2019-2020 2020-2021 2021-2022 2022-2023 (projected)

Annual Turnover for Berrylush in INR millions

Exhibit 10. Annual Turnover for Berrylush from 2019 to 2023

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.
Exhibit 11. Berrylush timeline from 2015 to 2023

Ms. Harchitwan Kaur Lamba and Prof. Sanjay Dhir has prepared this case study as the basis for class discussion rather than to illustrate
either effective or ineffective handling of an administrative situation.