2. July 2012–
German incubator Springstar is continuing to take social selling jewellery startup Juvalia & You global, most recently into Russia in partnership with Moscow-based Fast Lane Ventures.
Juvalia & You, based in Berlin, lets women set up their own businesses selling fashion jewellery and accessories by becoming Juvalia & You "stylists" (think social media-savvy Avon ladies able to sell both offline and online). Stylists purchase starter kits including training, products and personal webpage/sales portal and then receive a commission (starting at 25 per cent) for successful sales.
The company is now active in Germany, Russia, Brazil and India (the latter as a joint venture with India's Smile Group). The Russian site – Juvalia.ru – went live last week as a joint venture with incubator Fast Lane Ventures, which has built 19 companies in Russia since starting up in 2010.
Springstar, backed by Klaus Hommels and Oliver Jung, sold online furniture startup Casacanda to Fab in February this year and is also partnering in Airbnb's rollout in Europe - though a lack of recent press releases suggests activity at the incubator might have slowed since then. Springstar's previous activity in Russia has included shares in KupiVIP and online shoe retailer Sapato, a Fast Lane Ventures startup.
Juvalia & You – the new pearl in Fast Lane's portfolio in Russia
Fast Lane Venture’s analysts estimate the Russian fashion jewellery market and network marketing market are each worth about $3 billion - and that Juvalia & You will be able to generate $2 million by the end of 2012. The aim is to increase this figure by at least 10 times in 2013, attract about 10,000 stylists over the first three years and secure an "undisputable" market position by 2017 (five years' time).
"Juvalia & You is the new pearl in our portfolio and reinforces our commitment to the development of e-commerce and internet entrepreneurship in Russia. This project is based on a proven business model and we expect to see it become the leading social selling company for jewellery," Fast Lane CEO Marina Treshchova said in a statement.
Austrian native Christian Graggaber, a grad from the Skolkovo School of Management in Moscow, the Bocconi University in Milan as well as MIT, will lead Juvalia & You in Russia.