All the big names in ecommerce are chasing after private brands to meet profitability goals. Fashion etailer Koovs claims that it owes 40% of its sales to private labels. The biggest fashion retailer in the country Myntra has been introducing exclusive labels too for the sake of profits.
Shopclues, an underdog in the online retail race believes in just the opposite. It feels focus on non-branded fashion can get it the results it desires. The Clues Network Inc. run company would like to ride the online fashion growth curve and it believes that non-branded apparel and accessories will help with this.
Radhika Aggawal mentions, “Currently, India’s apparel and lifestyle market is a $92-billion industry. However, according to recent reports, only 2% of that is currently online. This is the fastest-growing category and reaches 24% of online consumers in India.”
“We have exponentially scaled up our offerings in this category including clothing, jewellery, fashion accessories and footwear,” Aggarwal says, while also adding that company wants to focus on growing tier-III and IV markets.
By 2018, Shopclues expects to reach $3 billion in GMV. It currently serves 30,000 pin codes in the whole country. And, it may be aiming to build its fashion category further by grabbing Snapdeal sellers as this online marketplace also focuses on non-branded fashion but is experiencing a lull in sales and business activity. Shopclues plans to overthrow Flipkart from its position in online fashion, IOS reported in August last year. But, before it can achieve this dream, the Indian online marketplace must get past Amazon Fashion, Ajio, Abof, Koovs, Tata Cliq and the rest of the online fashion specialist.