Zankyou, a wedding service site has finally penetrated into the Indian market. I mean, why wouldn’t the company target the world’s second-largest wedding market! The main concept behind the Zankyou, is a site that assists couples to arrange ceremonies.
Co-founder and CEO Guillermo Fernandez-Riba said the company is targeting weddings “costing between $80,000 and $800,000.” The Spanish-based company began almost a decade ago and is currently servicing 23 countries.
What does Zankyou really do?
Well, the site entails a free wedding registry service that basically collects cash gifts from engaged couples’ friends around the world, then transfers one lump sum to the couple. The basic underlying assumption is that since people are getting married later in life and have often experienced live-ins, they could possibly avoid filling up their household with an entirely new set of electronics, appliances and tableware.
Further the company has partnerships with venue operators, caterers, photographers, entertainers, wedding cake specialists; basically acting as a one-stop shop for all wedding requirements.
We’ve certainly done our research and it’s safe to say that there are only a handful of wedding website operators that span across multiple countries, and Zankyou says it is in the most markets.
Drawing an impressive 60 million visitors a year on their website and assisting to conceptualise and arrange over 350,000 ceremonies, transactions going through Zankyou amount to $10 billion a year, with ceremonies costing just under $30,000 on average.
Only last April, a beta version of the Indian portal went live and has drawn 400,000 visitors and been used by 5,000 couples. For the full launch, in January, Zankyou recruited a famous makeup artist as its brand ambassador. Their current focuses in India are New Delhi, Mumbai and Bangalore.
Fernandez-Riba is confident that India has high potential given how the Indian market is willing to spend so lavishly on weddings. Considering destination weddings are now such a craze, the Indian wedding market is bound to grow exponentially over the next few years.
[Via:Economictimes]
