Data and statistics of 2014-2015 FY (Financial Year) are out and the Delhi based online marketplace Snapdeal aims to sell apparel worth $2 billion by the end of next FY. This is thrice the number as compared to what they sold last year.
As per Amit Maheshwari, Vice President - Fashion Merchandising of Snapdeal, they sold fashion product close to $700 million. He also said that nearly 60 per cent of Snapdeal’s total sale and 35 per cent of its Gross Merchandise Value (GMV) comes from fashion category.
The retail giant is currently looking to add more values to the ecosystem and increase the variety of products. It is also in talks to expand its reach to tier II and tier III cities to triple its seller base to 1000,000 over the next 18 months.
Maheshwari also believes that Snapdeal’s acquisition of stakes in Gojavas will help them expand their reach. The company spent Rs. 120 crore in buying a 20 per cent in the logistic firm in March.
Snapdeal is also looking forward toward investing in marketing initiatives. Recently it sponsored the Indian Fashion Forum and has also got actor Amir Khan as a brand ambassador.