Press release from Business Wire India
Source: YNew
Tuesday, July 23, 2013 02:00 PM IST (08:30 AM GMT)
Editors: General: Consumer interest, Lifestyle, People; Business: Advertising, PR & marketing, Business services, Electronic appliances & components, Information technology, Major diversified industrial groups, Media & entertainment, Retailers; Technology
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YNew – The Brand for Organized Re-commerce of Lifestyle Gadgets

Hyderabad, Andhra Pradesh, India, Tuesday, July 23, 2013 — (Business Wire India) — The ‘first’ brick-and-mortar store to offer service warranty for used & refurbished products

YNew, a first of its kind re-commerce store for lifestyle gadgets in India, announces the formal launch of its flagship store in the city.

YNew aims to address the critical pain points of local sellers and buyers while adding the value for “transaction” in secondary market. YNew is pioneering the marketplace model in the physical world to facilitate the sale & buy of used & refurbished lifestyle gadgets (Smart Phones, Tablets, Laptops, Desktops and Televisions). It allows sellers to sell their gadgets at best prices with a hassle-free experience and a boon for buyers to purchase branded & certified products with 30 days free service warranty.

All the products sold at YNew Store are Tested & Certified by its team of engineers to validate the working condition, at times as good as new. ‘Extended Service Warranty’ on used & refurbished products is an irresistible proposition introduced by YNew for the value conscious buyers.

Target Audience:

YNew expects their platform to be leveraged by both individual and institutional sellers. Individuals keen to sell their gently used gadgets for the best value to upgrade to a newer model will be largely benefited. Besides individual sellers, refurbishment service providers who are in need of a channel partners to reach the value & quality conscious buyers are partnering with the brand. YNew is also an answer for local retailers or distributors who are struggling to liquidate their distressed inventory.

YNew aims to be #1 Re-Commerce “brand” for value and quality conscious buyers, who are aspirational in terms of brands that they own despite it being a used or refurbished gadget. Besides individual buyers, many start-up organisations and SMEs have realized the value on what YNew offers, while saving on their upfront capital costs in IT automation.

The motive behind the initiative:

The re-commerce industry has been in existence for over a decade now. However, what it lacks is an organized efforts for the benefit all its stakeholders.

“YNew has taken the initiative to create an organized re-commerce marketplace by consolidating the seller-buyer efforts by promising peace of mind, unparallel trust and immense value for all involved. Being a country with vast income disparities lead by aspirational middle class, India is likely to witness a big re-commerce trend in the years to come and YNew is eying to grab the tiger share of the this market,” said Dashradh Ram Nutakki, Founder, YNew. He further added, “The fundamental idea behind the venture is also the ‘optimum utilization of available resources’, to reduce e-waste and to provide more opportunities for re-use of electronic products.”

The pricing @ YNew:

YNew has devised a proprietary pricing framework for used and refurbished products. Taking into account the price-sensitive nature of both buyers & sellers, the pricing system at YNew is based on 13 critical parameters to arrive at the fair market value of the product.

The buyer’s advantage:

Whether it is a smart phone or a television, screen-based products have always been an expensive affair. On the other hand, investing in a second-hand product is often unreliable. But today, with YNew’s provisions, people can buy smart lifestyle gadgets without burning a hole in their pockets and at the same time remain assured of the quality. YNew buyer has an option to opt for an extended service warranty at an affordable price of Rs.999 for 11 months on their purchase.

Currently, YNew’s flagship store is located in Hyderabad and is planning to kick-start the expansion to other cities by end of 2013 through franchising. For more information, please visit http://www.ynew.in/

About Sloyd:

Sloyd Ventures Pvt. Ltd. is head quartered out of Hyderabad is founded in October 2012 with a vision to be a franchise conglomerate of consumer brands. Sloyd realized the need of an organization that should imbibe the fundamentals of proven startup ecosystems and established principles of franchising to unravel innovative business models in consumer products/service arena in order to channelize the entrepreneurial spirits of non-technology entrepreneurs. Sloyd is aspiring to build a conglomerate of consumer brands while attracting, mentoring and nourishing small entrepreneurs who can successfully build a sustainable local business on top of its piloted and proven business opportunities.

Currently, Sloyd is piloting its first business model i.e. YNew in order to build the network of franchisees under this umbrella across Tier-1 & Tier-2 cities to tap the emerging Re-Commerce Opportunity. Similarly, Sloyd is envisioned to build few more brands to tap the unexplored and/or untapped opportunities in the next 4-5 years.

CONTACT DETAILS
Kathambari Balu, Galvanise PR, +91 8197990581, kathambari@galvanisepr.com

KEYWORDS
CONSUMER, LIFESTYLE, PEOPLE, MARKETING, BUSINESS SERVICES, ELECTRONICS, IT, GROUPS, MEDIA, RETAIL, TECHNOLOGY

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