ShopClues goes offline with first store in Lucknow

By

Maverick Martins

Published
Nov 22, 2018

Indian e-commerce marketplace ShopClues has entered the brick and mortar space with its first physical outlet in the country at Lucknow in Uttar Pradesh.
 

The Shopclues store is located at Gomti Nagar, Lucknow and spread over an area of 600 square feet. The store will house exclusive labels from ShopClues like Homeberry, MEIA, Code Yellow, 29K, Kitchen Idol and Digimate which are popular on its online platform.
 
The company is looking to further strengthen its offline presence and will be opening 5 more stores across the country before the end of the year.

Commenting on the launch of its first store CBO and co-founder  of ShopClues, Radhika Ghai, said, “ShopClues has a loyal following in Lucknow and we realised that it is time that consumers should also be able to heave the “touch & feel” experience of their favourite online products.  At ShopClues, we are looking at Omni channel presence in a big way.”
 
ShopClues witnessed a 46 percent rise in its revenue to Rs 273 crore (approx $37.2 million) for the financial year 2017-18 with losses declining by 40 percent to Rs 208 crore during the fiscal.
 
ShopClues raised Rs 110 crore ($16.5 million) from existing investors earlier this year and will be using the same for its offline expansion in the coming months.

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.