E-commerce player ShopClues today said it aims to be among the top two players in the online fashion category in the next 12-18 months.
The company, which competes with the likes of Amazon and Flipkart, also plans to bring more "exclusive" labels on its platform to woo customers in tier II and III cities.
"Our focus has been on filling the need-gap of consumers of tier-II and III towns of India. Our total buyer base from these cities is more than 70 per cent and the demand for quality, affordable designer products from them is on the rise," ShopClues Co-Founder and Chief Business Officer Radhika Aggarwal told reporters.
She added that fashion accounts for 50 per cent of the total orders on its platform (over 3 million units a month) and 55-60 per cent of its revenue.
According to research firm Tofler, ShopClues clocked revenues of Rs 179 crore for the year ended March 31, 2016, while losses stood at Rs 383 crore.
"As per a report by RedSeer, we are the number four player after Flipkart, Amazon and Myntra in the online fashion category in terms of shipment. We hope to be the number two player in the next 12-18 months," Aggarwal said.
Like its rivals, ShopClues has also embarked on expanding its portfolio of private labels. These are believed to offer better margins to e-commerce players that are under increasing pressure to hit profitability and bring down cash burn.
ShopClues today unveiled a new 'exclusive' brand Meia on its platform, under which it will offer apparel and accessories priced under Rs 999.
Aggarwal said she expects about 10-15 per cent of the company's revenues in the fashion category to come from such exclusive labels.
"Meia, which means strength, will target women in the age group of 18-35 years. While we will own the designs, sellers can use them to design, manufacture and sell the products on our platform," ShopClues Senior Director and Business Head (Fashion) Ritika Taneja said.
She added that ShopClues will support these merchants in terms of branding and end-to-end logistics.
Aggarwal said the company will launch more such 'exclusive' brands on its platform. Earlier this year, ShopClues had launched a home and decor brand Home Berry on its platform.
"We will have a men's brand in the first week of November. We will also do a soft launch for a mobile and electronics accessories brand in the next few weeks," she added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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