ShopClues to enter brick-and-mortar space with store at Lucknow

By

Maverick Martins

Published
Apr 30, 2018

​E-commerce firm ShopClues is all set to enter the brick-and-mortar segment in India with the launch of its first exclusive store in Lucknow in the state of Uttar Pradesh.
 

The offline store at Lucknow will be around 600 square feet and will house private labels from ShopClues in categories across fashion, accessories and entry-level smartphones.
 
The company recently managed to raise funds around $ 10 million (approx Rs 65 crore) from investors and is using the same to venture into the offline market.

ShopClues is looking to strengthen its offline-to-online network and expected to add more stores in this financial year.
 
ShopClues is hoping that its investment in the O2O model will bring 25% of its revenue by the end of the year as it looks to become profitable in the next 12 to 18 months.
 
ShopClues had posted revenue to Rs 275 crore (approx $ 42 million) with losses of Rs 208 crore (approx $ 32 million) for the year ended March 2018.
 
“ShopClues will open its first offline store in Lucknow next month. We will take a call on whether we would want to add more offline stores after the launch of this store," cofounder Radhika Ghai told the Economic Times.
 
Commenting on the utilisation of the recent fund raise, Ghai said, “The funds will be used for operations and to push the company’s offline-to-online strategy, which is aimed at helping customers make their first online purchase. This includes partnering with entities with a large offline retailer base.”
 
Shopclues was founded in 2011 and is based in Gurugram. The business is an Indian subsidiary of the American corporation Clues Network Inc.