Yepme was a Gurgaon-based Indian private-label online fashion retailer, run by VAS Data Services Pvt Ltd, which sold apparel and accessories to tier 2 and tier 3 towns and went into insolvency proceedings in 2019.

This Startup Deep Dive explains what Yepme does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

Yepme in Brief

• What it is: Yepme is an Indian Fashion e-commerce (defunct) company based in Gurgaon.
• Who it serves: online shoppers, retail customers, marketplaces and distribution partners.
• Sold private-label apparel, accessories and footwear online under the Yepme brand.
• Targeted tier 2 and tier 3 towns where big apparel brands had few stores.
• Offered regional-language shopping and relied on social media and celebrity endorsements.
• Funding: Reports differ: $76 million+ (one tracker) up to about $134 million.

Yepme Quick Facts

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is Yepme?

Yepme operates in the Fashion e-commerce (defunct) space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to Yepme.

• Sold private-label apparel, accessories and footwear online under the Yepme brand.
• Targeted tier 2 and tier 3 towns where big apparel brands had few stores.
• Offered regional-language shopping and relied on social media and celebrity endorsements.
• Later added physical stores that also served as local warehouses.

The Origin Story of Yepme

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

• Founders: Vivek Gaur, Sandeep Sharma, Anand Jadhav.
• Launched in April 2011 by Vivek Gaur, Sandeep Sharma and Anand Jadhav; one tracker lists 2008.
• Started as an online apparel retailer and shifted to private-label fashion in August 2011.
• Launched women's wear in June 2012 and entered the US market in 2014.

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the Fashion e-commerce (defunct) sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

• April 2011: Launched Yepme.com.
• August 2011: Moved to private-label fashion.
• August 2012: About 200,000 customers, roughly 49 percent returning.
• June 2012: Women's wear line launched.
• 2014: Entered US market.
• September 2015: Series B of $28.6 million led by Helion; reports also cite a $75 million raise led by Khazanah Nasional (reports differ).
• March 2018: Reported to have laid off about 90 percent of staff.
• April 2019: Insolvency petition against VAS Data Services admitted, leading to liquidation.

Yepme Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

• 29 April 2014: $0.5 million, Helion.
• 31 August 2014: $32.5 million, Helion and others (bridge stage).
• 8 January 2015: $12.7 million Series A, Helion and others.
• 15 September 2015: $28.6 million Series B, Helion and another.
• 21 May 2017: $1.7 million, Gokaldas Exports.
• Capricorn Investment Group is listed as a key investor; Helion and Capricorn together held close to 60 percent per one report.

How Does Yepme Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to online shoppers, retail customers, marketplaces and distribution partners, sales cycles and contract size matter as much as headline growth.

• Internet-first private-label brand selling direct, which gave better margins than marketplaces carrying third-party brands.
• Focus on tier 2 and tier 3 customers.
• Offline stores added later also served as delivery warehouses.

The Numbers: Yepme Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

• FY16: revenue Rs 107.0 crore.
• FY17: revenue about Rs 75.0-75.6 crore (down about 30 percent); net loss about Rs 56.4-57.0 crore (reports differ slightly).

Market Opportunity for Yepme

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising internet and smartphone use, growing online retail, digital payments, quick commerce and a younger consumer base that is open to new brands. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

• Competed in Indian online fashion against marketplaces and other private-label brands.

Technology and Product at Yepme

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are supply-chain reliability, brand trust, product quality, data on customer behaviour and the efficiency of fulfilment.

• Core capability: Public detail on Yepme’s technology stack is limited beyond company-stated descriptions.
• Assessment lens: supply-chain reliability, brand trust, product quality, data on customer behaviour and the efficiency of fulfilment.

Team and Culture at Yepme

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

• Vivek Gaur served as CEO, Sandeep Sharma as COO and CTO, and Anand Jadhav as president.

Yepme Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

Risks and Challenges for Yepme

• Large losses relative to revenue.
• Cost cutting, store closures and unpaid salaries reported by 2017-2018.
• Dependence on external funding.
• Insolvency proceedings admitted in April 2019.
• Competition: low barriers to entry and large marketplaces make it hard for a brand to stay differentiated.
• Customer acquisition cost: paid marketing can become expensive and erode margins as a brand scales.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by consumer protection rules, FSSAI and BIS standards where relevant, the Legal Metrology rules and e-commerce regulations.

Yepme Growth Outlook: What to Watch

• Defunct: scaled down by 2018 and went into liquidation proceedings after April 2019.
• Key indicators: repeat purchase rate, average order value, gross margin, contribution margin and customer acquisition cost.
• Funding position: Whether Yepme can reach its next milestone before needing new capital.
• Regulation: Changes from consumer protection rules, FSSAI and BIS standards where relevant, the Legal Metrology rules and e-commerce regulations.

Industry Context: Where Yepme Fits

India's consumer market is large, young and increasingly online. Rising smartphone and internet use, digital payments and faster delivery have helped direct-to-consumer brands, marketplaces and quick-commerce platforms reach customers who once relied on local shops. Established companies, marketplaces and new brands now compete for the same shoppers.

Success in consumer businesses usually depends on a clear brand promise, repeat customers and healthy unit economics, not on sales volume alone. Companies that control quality, understand customer needs and manage marketing costs tend to build more durable brands than those that grow mainly by discounting.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for Yepme

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for Yepme.

Bull case

• A growing base of online shoppers expands the potential market.
• Strong brands can earn repeat purchases and pricing power.
• Distribution through marketplaces, quick commerce and stores widens reach.

Bear case

• Heavy competition and discounting can hurt margins.
• Rising marketing costs can slow profitable growth.
• Supply-chain or quality problems can quickly damage trust.

Lessons Founders and Investors Can Take from Yepme

Studying a company in the Fashion e-commerce (defunct) space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about Yepme.

• A clear brand identity and consistent product quality matter more than short-term sales spikes.
• Repeat customers lower acquisition costs and make growth more profitable.
• Controlling the supply chain helps protect quality and margins as volumes grow.
• Selling across several channels, such as own website, marketplaces, quick commerce and stores, reduces dependence on one platform.
• Healthy contribution margins are a better sign of progress than revenue growth alone.

How to Evaluate Yepme as a Startup

• Customer clarity: Can Yepme name its customer and the problem it solves in one sentence?
• Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
• Economics: Check whether margins improve as volume grows.
• Execution: Compare announced timelines with what has actually been delivered.
• Funding runway: Estimate how long current capital lasts at the present spending rate.
• Regulatory standing: Confirm required approvals are in place.
• Customer concentration: Check whether a few customers account for most of the revenue.
• Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

Yepme is part of India’s growing Fashion e-commerce (defunct) ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

• Clear customers and repeat demand matter more than announcements.
• Regulation and capital needs shape how fast a startup in this sector can grow.
• Track a few leading indicators over time rather than one headline metric.

Yepme FAQs: Frequently Asked Questions

What is Yepme?

Yepme was a Gurgaon-based Indian private-label online fashion retailer, run by VAS Data Services Pvt Ltd, which sold apparel and accessories to tier 2 and tier 3 towns and went into insolvency proceedings in 2019. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded Yepme?

Yepme was founded by Vivek Gaur, Sandeep Sharma, Anand Jadhav, and the company reports a founding year of 2011.

How much funding has Yepme raised?

Reports differ: $76 million+ (one tracker) up to about $134 million. Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does Yepme make money?

Yepme earns revenue from its Fashion e-commerce (defunct) products and services sold to online shoppers, retail customers, marketplaces and distribution partners. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of Yepme?

Reported rivals include Jabong, Zovi, Myntra, Craftsvilla. See the competitor comparison above for how they differ.

What are the main risks for Yepme?

Main risks include competition: low barriers to entry and large marketplaces make it hard for a brand to stay differentiated, funding and capital needs, competition and regulation by consumer protection rules, FSSAI and BIS standards where relevant, the Legal Metrology rules and e-commerce regulations. This is educational content, not investment advice.

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Source

Source: Publicly available data, published reports, industry research, and other credible sources.