LimeRoad’s revenues doubled last fiscal

Gurgaon-based ertailer LimeRoad has more than doubled its revenue in the year ended March 2016. Sales grew 173 per cent during fiscal year 2015-16 from a year earlier. However, net losses increased 227 per cent year-on-year. It saw a three-fold surge in total expenses largely on account of investments in marketing and technology.

LimeRoad was founded in 2012 as a fashion discovery portal curating products from various brands along with a product feature that allows users to create outfit looks on the platform by picking up products from different brands. The company has raised about 50 million dollars (Rs 340 crores) in three rounds of funding.

LimeRoad’s machine algorithms rank order and display the highest quality scrapbooks for users to find products and styles. Over the last year, LimeRoad has been steadily nurturing a unique hyperactive community that takes products from thousands of sellers from across the country and shows users how to transform even the most basic white T-shirt into a style statement.

Cash rich e-commerce companies have been engaged in an aggressive discounting battle to win and retain customers. From offering steep discounts to spending heavily on television and print advertisements, e-commerce companies are doing everything to build their brands and keep consumers engaged.