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Shopclues targets $1 billion GMV by early 2016
23
Oct '15
Riding piggyback on festive season sales, Shopclues aims to be the fourth Indian e-commerce firm in the country to reach $1 billion annualised gross merchandise value (GMV).

CEO and co-founder of Shopclues, Sanjay Sethi told a news agency that boosted by festive sales, the company is targeting Rs 1500 crore transactions by December which will help it to reach GMV of $1 billion.

Presently Flipkart, Amazon India and Snapdeal have an annualised GMV (total value of goods sold) of over $1 billion.

Backed by Tiger Global, Shopclues which has a market share of "under 10 per cent", hopes to corner 15 per cent share of the online marketplace pie by early next year, Sethi said.

The marketplace, which is focused on servicing tier-II and tier-III cities, has claimed a seven-fold rise in traffic compared to the previous year at this time with home and kitchen and lifestyle segments notching up highest transactions.

Shopclues services 30,000 postal codes and is looking to service all the sectors that are so far not being covered by the larger e-commerce players like Flipkart, Amazon and Snapdeal. (SH)

Fibre2Fashion News Desk – India

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