Snapdeal aims for GMV sales of 3 billion dollars by March ’15

A month after it raised 627 million dollars (over Rs 3,700 crores) from Japanese investor SoftBank, leading marketplace model Snapdeal is targeting an annual three billion dollars (Rs 18,000 crores) in gross merchandise value (GMV) sales by March 2015. Sources claim that company touched two billion dollars (Rs 12,000 crores) in GMV sales during November sale event around the festive season.

The company plans to tap 50 lakh low-income households in slums and villages across the country. These include places such as Dharavi (Mumbai), which is Asia's largest slum, Govindpuri, one of the biggest slums in Delhi, and villages in Gujarat, Rajasthan and Haryana, among many others.

Snapdeal has managed to raise over 233 million dollars (over Rs 1,400 crores) this year from investors including Premji Invest, Temasek and eBay Inc. With its ‘ bachate raho (keep saving)’ tagline and focus on unbranded products sold by small manufacturers and retailers, Snapdeal has established itself as a mass-retailer, with over half of these 50,000 merchants selling fashion and lifestyle products that account for 60 percent of its orders. The plan now is to focus on the branded and premium fashion segment.