5by7 is a corporate gifting company that works with several brands (Microsoft, Apollo, Marriott, Audi, Philips etc) and the company has seen tremendous growth in the last 18 months.
The Delhi based startup offers products like coasters, laptop sleeves, cubix, notebooks etc to corporates, who often look at these gifts as part of their employee satisfaction program.
Here is an brief QnA with Piyush Suri, cofounder of 5by7.
1. What’s the current traction/volume of business?
We’re a young company, we launched 3 years ago but have seen a tremendous growth last 18 months – owed to our product differentiation and execution strategy. We work with industry leaders in Hotel (Marriott, Leela, Ritz Carlton, Radisson and more), Airline (Indigo), FMCG (Pepsi, Coke), Durables (Phillips, Apollo, Sennheiser), Luxury (Audi) and IT (Microsoft, Capgemini, Opera Software). We’re growing at about 100% annually.
2. In general, such businesses are mostly regional by nature (i.e, not too many pan India players). What are your thoughts around this?
Its good to have presence in major cities, but we’re quite effective servicing clients in Mumbai and Bangalore from Delhi. They come us since our product and value proposition make a lot of sense to them. We don’t have a ‘warehouse model’ which makes us quite easy to service clients, our product development and operations is based in Delhi and this helps us be agile. We handle enquiries from all over India, with a strong online presence we fill the gap of not being there physically.
3. Any plans for consumer route?
We believe that the B2B market is still huge (About USD 1.5B), its quite fragmented which means there is a tremendous growth opportunity. For the next year or so our focus will be the B2B market, however we have done some retail merchandising projects (e.g. our tie up with India Art Summit running their store and also Indigo Airline’s inflight merchandise) which gives us a good insight and experience in B2C market, so we will move when the time is right.
4. Future plans?
Our DNA has been design (which is evident in our products and website UI), we will continue to differentiate ourselves and innovate around products. We want to be the top 3 players in India over the next 5 years in the gifting space. We’re looking at keeping our team lean, automating processes and going international, we started an office in France this year and have got a very good response.
Early this year, corporate gifting service eYantra acquired Privilege Corner.