Online Shopping Website ShopClues Aims For 350 Crore Revenue This Year

Online Shopping Website ShopClues Aims For Rs. 350 Crore Revenue This Year

New Delhi: Online shopping website ShopClues aims to clock revenues to the tune of Rs 350 crore this year on the back of an expanding customer base and growing sales in clothing, fashion accessories.

The company, which was launched in November 2011, had clocked revenue of Rs 35 crore in FY'2012. It follows the January to December fiscal year.

"We are entering 2013 with a very sizable tailwind and seeing expansion of our customer base. We have one of the largest catalogues of products for any e-commerce firm and the prices are very competitive," ShopClues Founder and CEO Sandeep Aggarwal told PTI.

At present, the company handles over 18 lakh transactions annually and around 42 million visitors a year, he added.

When asked about the 10-fold growth in target revenue for 2013, Aggarwal said, "It is not 10-fold growth because we are already doing Rs 100 crore in annualized revenue based on our monthly run rate. So, we are talking about 3.5 per cent growth in our January numbers. By the way, we were up 250 per cent from January 2012 to January 2013."

In January 2013, Shopclues posted revenue of about Rs 8 crore and handled 1.52 lakh transactions compared to Rs 11 lakh in revenue and 200 transactions in January 2012, he added.

"That apart in 2013, we are looking at handling about 30 lakh transactions and also expect the total visitors on our website to cross 10 crore," Aggarwal said.

In the first half of 2012, the company saw a healthy growth in sale of electronics, mobile and home appliances, but since October there has been a rise in the sale of clothes, fashion accessories like perfumes, which added to ShopClues revenue growth, he said.

On the reasons for the growth in transactions on the site, ShopClues Vice-President (Engineering) Mrinal Chatterjee said that the company is offering the merchants a world-class E-Commerce technology platform that provides a wide reach and low transaction cost for third party merchants to own and operate their online store.

Founded in July, 2011 in Silicon Valley in California in US, offers close to 200,000 products with over 5,000 sellers across India. It has 200 employees in India and is based out of Gurgaon, New Delhi, Mumbai and Vadodara.

Source: PTI