ShopClues losses decline after downsizing
By Shubhangi Bidwe
10 Oct 2019
E-retailer Shop Clues has narrowed its losses by 40 per cent. The Gurugram-based e-commerce platform fired around 200 employees as a part of its downsizing activity to trim losses. A fresh capital infusion is expected to give it the much-needed support to meet its operational costs and keep the company going until it finds a buyer.
Shop Clues was launched in 2011 as a managed marketplace that aims to provide a unique online shopping experience to its customers. It generates about 20 per cent of its revenue from technological and operational services. Unlike other marketplaces, which tend to focus on mobile, electronics, computers and branded fashion, Shop Clues focuses on unstructured categories that contribute to two-thirds of its revenues. As a brand, Shop Clues has always been focused on partnering with the right aggregators to give customers an expansive and diverse product range at affordable prices. Shop Clues has launched an online store that specialises in global brands in categories including fashion, accessories, and home décor. The store spans 117 product categories and has value-for-money offerings. It will bring in freshness and excitement to the product catalogue, with an interesting range of products that are not seen usually in the Indian market.