Home / Knowledge / News / Apparel/Garments / Shopclues targets $1 billion GMV by early 2016
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

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search