ShopClues launches exclusive label ‘Digimate’ for growth

By

Maverick Martins

Published
Nov 16, 2017

Ecommerce firm ShopClues has added an exclusive label ‘Digimate’ to its platform as it looks to cut down on losses and make a strong comeback into India’s e-commerce scene.

After launching its first private brand for men’s footwear named Baton last week, the multi-brand online marketplace has added electronic accessories label ‘Digimate’ to its product portfolio.

The electronic accessories label is priced between Rs 129 (approx $2) to Rs 699 (approx $11) and is targeted at the tier III, IV markets of the country from which the company gets majority of its business as its total buyer base from these cities is more than 70 percent.

Shopclues losses declined 13% to Rs 332 (approx $51.3 million) and witnessed a 5% rise at Rs 189 crore (approx $29.1 million) in its revenue for the last financial year.

The company is looking to build on the momentum gained in the last fiscal and cut down losses further in the current fiscal by adding private labels to boost sales and improve margins.

Shopclues has recently launched a string of private labels with Home Berry (home & décor label), MEIA (workwear apparel for women) and Baton (footwear fashion for men).

“We foresee Digimate accessories to cover around 20% of our accessories business by March 2018. We also aim to add laptop, automotive, desktop and camera accessories in the near future,” Raunak Raheja, senior director, wired category, ShopClues said in a statement.

ShopClues was founded in 2011 and is based in Gurugram. The business is an Indian subsidiary of the American corporation Clues Network Inc.