ShopClues bets big on fashion, to launch more exclusive labels

ShopClues bets big on fashion, to launch more exclusive labels
NEW DELHI: E-commerce player ShopClues today said it aims to be among the top two players in the online fashion category in the next 12-18 months.
The company, which competes with the likes of Amazon and Flipkart, also plans to bring more “exclusive” labels on its platform to woo customers in tier II and III cities.

“Our focus has been on filling the need-gap of consumers of tier-II and III towns of India. Our total buyer base from these cities is more than 70% and the demand for quality, affordable designer products from them is on the rise,” ShopClues Co-Founder and Chief Business Officer Radhika Aggarwal told reporters.

She added that fashion accounts for 50% of the total orders on its platform (over 3 million units a month) and 55-60% of its revenue.

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According to research firm Tofler, ShopClues clocked revenues of Rs 179 crore for the year ended March 31, 2016, while losses stood at Rs 383 crore.

“As per a report by RedSeer, we are the number four player after Flipkart, Amazon and Myntra in the online fashion category in terms of shipment. We hope to be the number two player in the next 12-18 months,” Aggarwal said.

Like its rivals, ShopClues has also embarked on expanding its portfolio of private labels. These are believed to offer better margins to e-commerce players that are under increasing pressure to hit profitability and bring down cash burn.

ShopClues today unveiled a new ‘exclusive’ brand Meia on its platform, under which it will offer apparel and accessories priced under Rs 999.

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