Hyderabad-based start-up Inde Loom is expecting its revenue to grow five times to Rs 2 crore ($2,91,690) during the current financial year as compared to Rs 40 lac it had reported during the last fiscal.
Etsy announced a solid third quarter on Monday, posting earnings of 21 cents per share and revenues of $106.4 million. International gross merchandise sales surged 34 percent, said the craft-focused portal.
Amazon is delivering a direct blow to Etsy with the announcement of its Handmade Gift Shop. Serving as a separate storefront, it stocks thousands of handcrafted items for special celebrations and milestones.