Home / Knowledge / News / Apparel/Garments / Shopclues targets doubling GMV sales in 2016-17
Shopclues targets doubling GMV sales in 2016-17
27
Jun '16
Courtesy: Shopclues
Courtesy: Shopclues
E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at $3 billion (about Rs 20,000 crore) by the end of current financial year.

"We are planning to close financial year 2016-17 at annualised GMV rate of $3 billion," Shopclues Chief Business Officer Radhika Ghai Aggarwal told PTI.

Shopclues had registered GMV sales of $ 1.2 billion in 2015-16.

The expectations stem from Shopclues 'additional push' to business from the fashion category which it has recently started.

"The company has already added 60,000 new sellers on its platform under fashion category and will take this number to 1,50,000 by the end of the year. In GMV and orders terms, we expect 100 per cent growth in fashion category by end of ongoing financial year," Aggarwal said.

Shopclues recently roped in brands such as Wrangler, Puma, American Tourister, Lotto and Maxima along with 250 others to its platform.

"Shopclues is offering apparels at affordable prices like sarees starting at Rs 99, branded lehengas at Rs 249, set of 3 denims at Rs 799 and lotss more. It is already experiencing accelerated sales and is expecting a 100 per cent year-on-year growth from its fashion segment," Aggarwal said.

Founded in 2011 in Silicon Valley by Sandeep Aggarwal, Shopclues claims to have 50 million listed products and over 4 lakh merchants on its platform. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Dong Nhat Huy / Shutterstock.com

Apparel/Garments | On 20th Apr 2021

New guidance for Vietnam's apparel and footwear industry

The Australian Human Rights Commission has released new human rights...

Pic: Shutterstock

Textiles | On 20th Apr 2021

Egypt ready for world's largest textile factory by March 2022

Egypt is going full throttle with the construction of a textiles...

Pic: I Love Coffee dot Today / Shutterstock.com

Apparel/Garments | On 20th Apr 2021

COVID-19 lockdown halts garment production in parts of Cambodia

A 14-day lockdown imposed to curb the spread of COVID-19 pandemic has ...

Interviews View All

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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


April 2021

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


Advanced Search