Khalid Raza Khan From Failure to Building a Thriving Ecommerce Empire

In the world of entrepreneurship, it is often said that failure is not the opposite of success but a part of it. Khalid Raza Khan’s remarkable journey stands as a testament to this adage. After facing setbacks in three previous business ventures, he went on to establish an ecommerce company that now boasts a turnover of Rs 14 crore. YourLibaas, founded in 2014 and originally based in Delhi, has recently shifted its headquarters to Dubai. Khalid’s story is a compelling narrative of resilience, adaptation, and entrepreneurial spirit.

Humble Beginnings and Early Setbacks:

Khalid Raza Khan, a computer engineer from PICT, Pune, always harboured an entrepreneurial spirit. His journey began with blogging, but it didn’t yield the desired results. Undeterred by initial failures, he ventured into magazine writing and the edutech business, only to face more challenges and limited success. Khalid’s determination, however, kept him from pursuing a conventional job.

During a visit to Lucknow to meet relatives, Khalid stumbled upon a promising opportunity. He discovered a substantial market for Lucknowi chicken embroidery design suits. Recognizing the demand, he delved deeper into research and realized that while there were numerous regional designs and embroideries in India, there was a conspicuous absence of pure lawn cotton suits. This revelation ignited his entrepreneurial spark.

Seizing the Opportunity:

Khalid’s research unveiled an unmet demand in India for lawn designer apparel. These suits were highly sought after by Indian tourists visiting the UAE, where they were readily available. Khalid saw the potential to bridge this gap and, along with his friends Akram Tariq Khan and Shahper Khan, founded YourLibaas.

The company embarked on its journey by collaborating with renowned designers such as Sana Safinaz, MARIA.B, Saira Shakira, Sana Yasir, Elan by Khadijah Shah, and Gul Ahmed, among others. YourLibaas focused on importing and partnering with artisans to source high-quality materials directly from the UAE, ensuring top-notch product quality.

Expanding Horizons:

YourLibaas operates in the UAE origin lawn apparel sector, with a market size nearing Rs 400 crore. The company has gained a substantial customer base, with approximately 70,000 customers, of which 50,000 are from India. Beyond law suits, the company also offers georgette, chiffon, and net fabrics, catering to customers in Saudi Arabia, the US, the UK, Canada, and Australia through its website, with FedEx and DHL as logistic partners. In India, YourLibaas relies on FedEx and Delhivery for deliveries.

The brand has positioned itself effectively against online competitors like The Fashion Station and Mirraw, catering to non-working urban women who may find online ordering challenging. Introducing “Order on WhatsApp” functionality significantly enhanced the purchase conversion rate, offering users a convenient means to inquire about products, fabric details, pricing, and delivery timelines.

Overcoming Challenges and Future Aspirations:

Khalid acknowledges that inventory management, substantial investments, and competition with unorganized players are among the challenges faced by YourLibaas. However, despite being bootstrapped, the company continues to thrive. Khalid also recognizes the importance of educating customers about the distinctions between original lawn design suits and lower-quality imitations.

The COVID-19 pandemic posed its own set of challenges, but YourLibaas adapted by partnering with tailors in Delhi-NCR and Navi Mumbai, providing them with a source of income during the economic downturn.

Looking ahead, YourLibaas is set for international expansion, with Dubai as its new headquarters. The company plans to establish a central hub in the UAE, encompassing manufacturing and tailoring units and warehousing to serve its global customers more efficiently. Khalid envisions partnerships with designers and artisans for worldwide manufacturing and marketing. Additionally, YourLibaas intends to diversify into various verticals, including juttis/khussas, jewellery, handbags, shawls, and more, aiming to become the ultimate ethnic shopping destination for women.

In Khalid Raza Khan’s journey, we find a story of tenacity, adaptation, and unwavering determination. His transformation from repeated failures to building a thriving ecommerce venture exemplifies the indomitable spirit of entrepreneurship. Khalid’s relentless pursuit of opportunities, coupled with his commitment to quality and customer satisfaction, underscores the path to enduring success in the world of business.