 "Not just for the rich: Art is now affordable thanks to PixMyWall")
In The Wedding Date, a 2005-movie directed by Clare Kilner, Kat Ellis, a character played by Debra Messing hires Nick Mercer, a male escort played by Dermot Mulroney, as her date for her sister’s wedding to dupe her ex-fiance. In predictable Hollywood style, the movie ends with them beginning a real relationship together.
Though not inspired by this movie but using the hiring concept, 32-year-oldAditya Pisupati, and wife Padmaja Nagarur, 30, have made a high-brow category like art, accessible, affordable and less intimidating an experience withtheir startup PixMyWall.
Launched in December 2012, it works on a subscription-based model where artcan be rented with the hope that customers will end up owning the hire.
Pisupati, a graduate in chemical engineering from Jawaharal Nehru Technology University in 2002, worked in sales across industries until 2011, when he had his fill of corporate life. He then decided to test his salesmanship in a new arena.
Why art?
On business trips, Pisupati tagged along with local photographers and it was on these expeditions that he realized that selling artwork was a common problem upcoming artists across genres faced.
“Galleries stock but don’t sell much,” says Pisupati, CEO and Co-Founder,PixMyWall, as he noticed an untapped market for upcoming artists.
The new subscription-based, consumption-led model designed by PixMyWall is set to change this. “This model will democratize owning art,” says Nagaraja Prakasam, mentor-inresidence at NS Raghavan Center for Entrepreneurial Learning (NSRCEL) at IIM-Bengaluru. The startup is being incubated at NSRCEL since May 2013.
Few months later, Chandini Harlalka, Founder of www.artflute.com, a five yearold online gallery joined as the third founder, bringing along art expertise and a repository of 8,000 original artworks.
Rent and rotate
While only originals are sold, reprints are part of the annual subscriptionpackages that start from Rs 3,300 for the smallest size of 18"x12" throughto Rs 12,000 for a 42"x 30’ piece.
The rental model offered on www.artflute.com allows customers to change two prints a year in the same subscription package as long as the size is the same. If one opts for a bigger size, they have to pay for the difference.If a rented piece is bought, the subscription amount is deducted from the final price. Else, a customer can renew a package or return the artwork.
“It’s a great way to get new buyers into the art appreciation journey,“notes Harlalka, Co-Founder and Advisor, PixMyWall.
With originals, the startup keeps 25 percent of the sale value as commission. When reprints sell, PixMyWall keeps 80 percent and in the case of a buyer taking the subscription package, the artist gets 40 percent.
Parbonni Bhowmik, a freelance graphic designer and self-taught artist found artflute.com online and has 25-30 of her paintings showcased here. Priced between Rs 8,000- Rs 20,000, she has sold 15-20 originals.
Bhowmik has inked an agreement in November 2013 for 10 originals to be reprinted for subscriptions. “The concept gives me a bigger reach,” she says.
Padmanabhan Thangaraj, a professional wedding photographer and co-founder, Snapchai OODIO, has shared 10 original images of his travel on artflute.com since June 2013. “I can build a personal brand and get visibility withoutspending,” says Thangaraj.
A larger canvas
What is exciting for artists is the corporate segment that the company is tapping into with its subscription model.
Its go-to-market strategy targets the builder segment, banking and hospitality sectors. PixMyWall has bagged one client in each of the sectors so far.
Ranjeesh PK, General Manager, Davanam Sarovar Portico Suites, a 132-room all-suites hotel in Bengaluru sees this as a good option for repeat clients, most
of whom prefer staying in the same room. “Minor changes like a new painting lend a new look,” says Ranjeesh.
From a market perspective, Ranjeesh feels that subscriptions will work better with large hotel chains that have money to spend on a recurring basis.
Most hotels, Ranjeesh points out, source art from China and prices are at par with PixMyWall. This model will work better if they lower prices, he states.
Leena Chethan, Founder, Tangerine, a six-year old online gallery, is skeptical. “If you’re renting reprints, then the original has to cost something substantial. Else you might as well buy the original.”
PixMyWall plans to expand its reach over the next few years. Currently, the founders are in talks with two groups for raising Rs 2 crore in angel funding.
The funds would be used to expand the company’s logistics network and have a pan-India presence. “It should close by early 2014,” Prakasam tells us.
This article first appeared in Entrepreneur India magazine
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