“We are considering launching our own in-house branded products next year in fashion, home decor and food. We are focussed on becoming profitable in the next six months,” Manoj Gupta, co-founder of Craftsvilla told a news agency.
“There are currently no large brands in the ethnic space, and 98 per cent of the market is unorganised. We are keen on creating value and streamline this through our brand,” added Gupta.
Currently, about 80 per cent of the total sale is sourced from the ethnic fashion segment, while ethnic food and home decor segments of the firm contribute close to 10 per cent each. The company aims to increase the share of the two categories to 25 per cent and expects ethnic fashion to contribute 50 per cent to its sales.
Craftsvilla is also looking to work with various state governments to promote and market handicrafts, which is a $50 billion market in India.
The company has over 25,000 sellers and plans to double the number of sellers by March 2017 to increase its sales. More than 4 million products are currently listed on the platform. (KD)
Fibre2Fashion News Desk – India
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