Portfolio Spotlight: Lemonade
Lemonade is a marketplace brand that retails luxury goods at fair prices, connecting the world’s best manufacturers, directly to consumers across Asia.
What problem is Lemonade solving?
Lemonade is solving two problems, one for the consumer and one for the supplier.
For Consumers we want everyone to experience the joy of luxury. Luxury goods and luxury brands are otherwise restricted to only a very small sliver of society, but you know what, everyone should have good things. One of the ways we can do that is to partner with the manufacturers of the largest, best, and most admired global luxury brands and we bring you their good stuff directly without any middlemen and complex supply chains.
For suppliers or manufacturers, we help them sell so much more, otherwise they're restricted only by their ability to service B2B demand but here they are able to unlock B2C so essentially, we are kind of trying to do what a Grab or a Deliveroo or a Zomato have done for restaurants by becoming the delivery partners, so unlocking more digital demand
What products does Lemonade offer?
We're a multi-category luxury brand One of the reasons we do this is we think that the consumer responds similarly to premium lifestyle products. We do home decor, clothing, accessories, footwear, etc. Our white sneakers do well as well as our leather backpacks. We have the finest, nicest bed sheets and rugs that you’ll ever find.
Why did you decide to founder Lemonade?
I think two reasons why, one is in my previous gig I was co-founder and CEO of John Jacobs Iver which is luxury eyewear at revolutionary prices, so I kind of resonate with the problem statement, both on the commercial side as well as what it can do to consumers by delighting when you bring something that is restricted to the top 1% of the world and the joy it brings to the next 10 regular people like us. I want to apply the same problem statement to a larger canvas and so therefore do this in multi-category which is what led me to Lemonade. The second reason is I think we also star have started seeing the world very similarly, you might be in Singapore, I might be in New Delhi, someone might be in New York, someone might be in London, but fundamentally people like us behave the same way.
What countries do you currently operate in?
We're a truly global brand. We sell in America, Singapore, Dubai, and India, but India is at this point 97% of the business. We do 1% each of our three markets but we're looking to double down in Asia, so Singapore is our first court of call where we'd love to go from that 1% to a significantly larger chunk and then we'd look at Middle East.
What is your revenue/business model?
We sell directly to consumers via our website. We are a brand in the front end but we are a Marketplace on the back end because we partnered with several different manufacturers for different product categories.
Where can our audience learn more about Lemonade?
Visit our website at www.lemonade.shop or go to Instagram and type @thelemonadeway