Snapdeal to triple clothing sales on its platform

Leading Indian marketplace, Snapdeal.com is looking at triple clothing sales on its platform, over the next 12 months, against value of garments sold in the previous year. It expects to do this driven by heavy discounts, rise in m-commerce and rising number of customers shopping online.

The company managed to sell fashion products including clothes, footwear and accessories, worth about 700 million dollars (over Rs 4,300 crores) in the year ended March 31, 2015. For now, the segment fetches around 60 percent of the company’s overall volume and close to 35 percent of its total gross merchandise value (GMV). The plan is to expand its product basket by adding more brands, options, while reaching out to more cities and increasing vendors over the next 18 months.

Snapdeal has also set up four teams under its fashion segment in Delhi, Bangalore, Mumbai and Kolkata. Fashion is considered to be a high margin category and Snapdeal sees around 35 percent sales and 55-60 percent of transactions driven by it. The company anticipates the category to generate almost 2 billion dollars (over Rs 17,000 crores) revenue by 2015-16, up from the estimated 600 million dollars (over Rs 3,699 crores) in 2014-15.