One of country’s eCommerce major Shopclues is now expecting to register more than two fold hike in its Gross Merchant Volume (GMV) from its platform. Company’s current GMV by the end of the recent fiscal was $3 billion (around Rs 20,000 cr).
Commenting on the same company’s Chief Business Officer, Radhika Aggarwal said that the company is planning to close financial year 2016-17 at annualised GMV rate of USD 3 billion. The company has registered GMV sales of USD 1.2 billion in 2015-16, she added.
The Gurgaon-based online marketplace is betting on its recently launched fashion category to push the business further and help reach these whooping numbers.
As per Aggarwal, 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, 100 per cent growth in fashion category is expected by end of ongoing financial year, she added.
The company recently roped in brands such as Wrangler, Puma, American Tourister, Lotto and Maxima along with 250 others to its platform.
Shopclues 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 by Sandeep Aggarwal, the company today claims to have 5 crore listed products and over 4 lakh merchants on its platform across category.