ShopClues Revenues Grow 60%, Losses Down to 40%
India based online e-commerce platform ShopClues revenues grow 60 percent this fiscal, while losses have been trimmed by almost 40 percent compared to the previous year as per the press release published by the company.
The Gurgaon-based company focusses on categories like fashion and strengthening position in tier III cities and beyond to push the growth. Shopclues will see the competition in this segment from the leading players like Flipkart and Amazon. Both leading online e-commerce players are also confident of hitting profits in the next 12-18 months.
The CEO of Shopclues Sanjay Sethi said, "2017 was spent ensuring that the company has the right revenue margins" without any discounting or heavy spending on warehousing adding to its costs. 2018 will be about continuing the growth....