ShopClues plans to double headcount

15 Jun '15

2 min read

Boosted by strong growth in its seller base, e-commerce player ShopClues aims to more than double the number of employees to 1,500 by March next year, according to an agency report. ShopClues currently has about 700 employees.

The company, which claims to have about 1.5 lakh merchants on its platform, expects it it to grow to about five lakh by the end of the current fiscal.

Founded in July 2011 in Silicon Valley, ShopClues.com is a managed marketplace and small and medium businesses account for a significant chunk of its seller base.

ShopClues claims its GMV currently is about $500 million and aims to close the year at about $1.3 billion. GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the marketplace over a certain period of time.

The company says its financial position is strong and it is also open to acquisitions like its larger rivals Snapdeal and Flipkart. Currently looking to strengthen its technology platform.

E-commerce majors like Flipkart, Snapdeal, Amazon and Alibaba-backed Paytm are ramping up infrastructure and adding more sellers to their platforms to cater to the booming demand from customers.

According to industry estimates, e-commerce business in India was about $6 billion in value in 2012 and is expected to touch around $76 billion by 2021. (SH)

Fibre2fashion News Desk – India

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