Shopclues targets doubling GMV sales in 2016-17

E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at $3 billion (about Rs 20,000 crore) by the end of current financial year.

"We are planning to close financial year 2016-17 at annualised GMV rate of $3 billion," Shopclues Chief Business Officer Radhika Ghai Aggarwal told PTI.

Shopclues had registered GMV sales of $ 1.2 billion in 2015-16.

The expectations stem from Shopclues ‘additional push’ to business from the fashion category which it has recently started.

"The company has already added 60,000 new sellers on its platform under fashion category and will take this number to 1,50,000 by the end of the year. In GMV and orders terms, we expect 100 per cent growth in fashion category by end of ongoing financial year," Aggarwal said.

Shopclues recently roped in brands such as Wrangler, Puma, American Tourister, Lotto and Maxima along with 250 others to its platform.

"Shopclues is offering apparels at affordable prices like sarees starting at Rs 99, branded lehengas at Rs 249, set of 3 denims at Rs 799 and lotss more. It is already experiencing accelerated sales and is expecting a 100 per cent year-on-year growth from its fashion segment," Aggarwal said.

Founded in 2011 in Silicon Valley by Sandeep Aggarwal, Shopclues claims to have 50 million listed products and over 4 lakh merchants on its platform.