E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at USD 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 USD 3 billion,” Shopclues Chief Business Officer Radhika Ghai Aggarwal said.
The company has registered GMV sales of USD 1.2 billion in 2015-16, she said.
Shopclues expects that additional push to its business will come from 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.
The company recently brought 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 loads more. Shopclues is already experiencing accelerated sales and is expecting a 100 per cent year-on-year growth from its fashion segment,” Aggarwal said.
Shopclues was founded in July 2011 in Silicon Valley by Sandeep Aggarwal. The e-commerce firm claims to have 5 crore listed products and over 4 lakh merchants on its platform across category.