LimeRoad Claims To Achieve Second Spot In Online Fashion

Fashion and lifestyle e-commerce player LimeRoad today said it is clearly achieving number two spot in online fashion segment backed by strong growth rate and customer acquisition among other contributing factors.

Suchi Mukherjee, founder & CEO, LimeRoad said “2017 has been a strong year for LimeRoad. We continued to outperform the online fashion industry growth rates. While the e-commerce market will grow at a 30% compound annual growth rate, LimeRoad continued to grow at 150% (in terms of revenue) and the traffic swelled to 50 million per month, emerging as a clear #2 in online fashion vertical. We broke even post all marketing and made steady progress to EBITDA breakeven. The LimeRoad app which accounts for nearly 70% of sales has the highest conversion rate in the country of nearly 15% where industry average is 3-4%, with higher performers we believe in the 6-7% range.”

The platform which showcases and sells apparel, accessories for men, women and now kids, has introduced fastest LimeRoad mobile site this year besides introducing kids wear segment LimeRoad MINI.

According to LimeRoad, it has outperformed the online fashion industry growth rates for 10 consecutive quarters. During Nov’16, following demonetization, when the online rest of industry recorded a 30%+ decline in sales relative to Oct’16, LimeRoad’s sales were flat relative to Oct’16 and continued to grow in Dec’16.

As put by Mukherjee, LimeRoad has not only grown 10x in the last 2 years, it is also the only online commerce play of scale which is contributing margin positive post-marketing spend, and continues to grow every single month.

Backed by Tiger Global Management, Lightspeed Venture Partners and Matrix Partners India, the company has raised about $50 million in three rounds of funding recently.