Snapdeal to pump money to boost fashion portfolio

By

Maverick Martins

Published
Nov 15, 2016

India’s leading e-tailer Snapdeal has plans to invest around $100 million over the next one year to uplift its online fashion portfolio in the wake of competition from its peers like Amazon and Flipkart.

Snapdeal is also looking to build its own affordable and high quality fashion products and not just focus on selling branded products.

"In the next few months, we'll be making some big moves in fashion. We'll not limit ourselves to selling other people's products only," Snapdeal co-founder and CEO Kunal Bahl said, at the Foundation Day programme of the IIM Calcutta.

According to Bahl, there is a huge mismatch in the offline and online sales of apparels in India. He said non-branded products comprise 90% of the offline sales while in the online space, 90% of the apparel sales are branded.

"We have to figure out this huge mismatch. Investments will be across technology, logistics, partnership with brands and marketing. There will be some key partners in the fashion industry, too," he added on the sidelines of the IIM-C event.
 
50% of Snapdeal sales comprises of the (COD) mode which took the brunt of marginal decrease in sales.