Job cuts at fashion e-tailers Craftsvilla, Yepme

By

Maverick Martins

Published
Feb 28, 2017

Online fashion portals Craftsvilla & Yepme are following in the footsteps of e-commerce major Snapdeal by downsizing its operations and laying off staff to cut costs.

Ethnic e-tailer Craftvilla has let go of around 100 people from the merchandise and technology departments, according to a Financial Express report. In FY16, Craftsvilla Handicrafts reported net sales of Rs37 crore and a loss of Rs119 crore.

Another player in the fashion and lifestyle segment Yepme run by Vas Data Services has confirmed laying off 30 people.

Sandeep Sharma, co-founder of Yepme, said the firm has outsourced both warehousing and quality control to third-party agents. “Consequently, about 30 people involved in the operations have been asked to go,” Sharma explained.

Yepme typically sells fashion apparel and accessories under its own brand. In 2015-16, the company reported revenues of Rs 130 crore and a loss of Rs 96 crore. The management expects the business to be profitable at an operating level by April this year.

E-commerce major Snapdeal had also made a similar announcement last week and around 600 job cuts are expected at the firm.