ShopClues expects 12% of FY18 revenue from exclusive labels

Source: http://www.fibre2fashion.com

Indian e-commerce portal ShopClues has witnessed a strong uptake of its private label business and estimates its four brands will account for around 12 per cent of its total revenue this fiscal, the company recently announced. The firm, which launched four exclusive labels in 2017, has seen the labels grow significantly and contribute 10 per cent to orders.

The company currently offers 3,500 products across its exclusive labels, the maximum being in lifestyle, and aims to further increase the range of its collection, ShopClues senior director Ritika Taneja told a news agency.

The growth rate across the exclusive labels is between 10-15 per cent overall but the growth in lifestyle has been faster and higher at about 22-25 per cent, she said.

Tier-II cities, like Rajkot, Jaipur, Agra, Pune, Gorakhpur, Guntur, Mysore, Hubli, Gwalior and Panipat, have contributed significantly to the company’s growth.

ShopClues had launched Home Berry, its exclusive home decor label in July last, followed by womens fashionwear brand Meia in September. It also owns the Baton (mens footwear) and Digimate (electronics accessories) brands.

ShopClues’ total revenue from operations grew 11.7 per cent to Rs 180.3 crore in 2016-17 from Rs 161.4 crore in the preceding fiscal, according to regulatory documents filed with the corporate affairs ministry. Founded in 2011, ShopClues has over six lakh merchants.



Categories: Apparel, Asia, Brands, Business, E-commerce, India

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