;
Home / Knowledge / News / Apparel/Garments / India's ShopClues eyes profits in 12-18 months
India's ShopClues eyes profits in 12-18 months
30
Mar '18
E-commerce platform ShopClues’ revenues grew by 60 per cent this fiscal, while losses were trimmed by around 40 per cent compared to the previous year, the company claimed. The Gurgaon-based company is confident of making profits in the next 12-18 months as it focuses on expanding business beyond fashion and strengthening its position in tier III cities.

Last year was spent ensuring that the company has the right revenue margins without any discounting or heavy spending on warehousing adding to its costs, but 2018 is about continuing the growth, company co-founder and CEO Sanjay Sethi told a news agency.

ShopClues' revenue from operations was at Rs 180.3 crore in 2016-17, against Rs 161.4 crore in the preceding fiscal, according to documents filed by the company with the corporate affairs ministry,. Its losses were also lower at Rs 332.65 crore for the fiscal ended March 2017 compared to a loss of Rs 383.05 crore in 2015-16.

About 80 per cent of the company's orders come from tier III cities and beyond and such customers buy more frequently — 20 per cent more as compared to those in metros.

Co-founder and chief business officer Radhika Ghai said the company has raised about $200 million and on track to hit profits, which shows that its business model is working. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Textile firm fully owned by blacks launched in S Africa

Textiles | On 24th Jan 2019

Textile firm fully owned by blacks launched in S Africa

A multi-million-rand textile firm, Africa Bespoke Apparel (ABA), was...

Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

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

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


January 2019

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

news category


Related Categories:

Advanced Search