Wakefit - Scaling to ₹1,000 Cr With Unconventional Choices | D2C | Day One | Elevation

We're excited to welcome Ankit Garg and Chaitanya Ramalingegowda, the founders of Wakefit, to the Elevation family. In this special conversation with Chirag Chadha (Principal, Elevation), they explore the company's journey from its roots in the online mattress space to becoming a leading name in home and sleep solutions in India.

Chaitanya and Ankit state that everything they have built to date is centered around listening to the customers and not being able to do that is what scares them the most. Wakefit currently operates at a revenue scale upwards of ₹1,000 crore and is on the path to becoming profitable in FY24.
Wakefit’s differentiated and full-stack approach on the backend allows it to consistently deliver high-quality and value-for-money products. It is taking its winning online formula from mattresses and successfully replicating it in the furniture category. Their foray into furniture was viewed quite skeptically by the external world but something we at Elevation felt was absolutely the right long-term call as we partnered with them. Today, Wakefit runs India’s largest furniture factory.
Believing that certain consumer behaviors couldn't be replicated online, they pursued an omnichannel approach despite everyone around them warning against going offline. Wakefit’s Exclusive Brand Outlet (EBO) model has started to work wonders and it has rapidly scaled to 40+ stores now.

Join us in this episode, where you will gain insights on:
1. The observations that led to Wakefit’s founding
2. What makes a D2C company
3. How advertising alone does not make a brand
4. Fostering a culture of frugality
5. Expansion beyond mattresses
6. Controlling every aspect of the supply chain
7. Nurturing a cohesive team culture
8. Wakefit’s omnichannel approach
9. Framework for hiring and retaining leaders
10. Nuggets of advice to budding founders

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Chapters:
00:00 - 01:03 - Coming Up.
01:04 - 03:58 - Intro.
03:59 - 07:55 - Why did Ankit & Chaitanya start Wakefit?
07:56 - 10:32 - Wakefit's Customer Appeal Secret.
10:33 - 15:23 - Learnings behind growing Wakefit successfully.
15:24 - 18:16 - Best practices that worked.
18:17 - 20:23 - What makes a D2C company?
20:24 - 24:48 - The organic growth fly wheel.
24:49 - 25:25 - Wakefit's dream: home beauty, no compromises.
25:26 - 35:26 - Nurturing a cohesive team culture.
35:27 - 44:45 - Trade-offs Entering Furniture Biz.
44:46 - 52:11 - Story behind going offline.
52:12 - 56:52 - Wakefit’s omnichannel approach
56:51 - 01:02:13 - Nuggets of advice to budding founders

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