ShopClues launches exclusive fashion label 'Code Yellow'
E-commerce major ShopClues has expanded its private label business with the addition of its second exclusive fashion label for women, ‘Code Yellow’.
Code Yellow will offer an expansive collection of apparels, watches and eyewear in women’s western wear. The starting price for the collection is Rs 349 (approx $5).
With Code Yellow, ShopClues is looking to tap into the tier 2, 3 markets by catering to the aspirational Indian woman segment for growth.
ShopClues is believed to have raised Rs 110 crore this year and will be using the funds on expansion and diversifying its product offerings. The company is also looking to enter the brick and mortar space to further boost its private labels in categories across fashion, accessories.
ShopClues, which aims to break even by Diwali this year, is banking heavily on its private labels to drive growth. 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 had entered the private labels space last year with the launch of Meia under which it offers apparel and accessories priced under Rs 999 (approx $15).
ShopClues is run by Clues Network Pvt. Ltd and is based in Gurugram. The business was launched in 2011 and retails an array of domestic and international fashion brands.
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