LuxeYard eyes India foray

California-based members-only website LuxeYard that offers home decor, furnishings and

fashion items now plans to venture into India. LuxeYard in its unique style first lets its members know what is sold on the site and then offers them discounts for group sales. The Indian edition LuxeYard India – india.luxeyard.com will be managed by veteran entrepreneur, Sashi Chimala and his dedicated team under an agreement with LuxeYard Inc. The team will work closely with the company’s US team in building out product acquisition, marketing and merchandising operations to manage the site.

In a report by consultancy firm Forrester, India has been described as one of the fastest growing e-commerce markets. Citing this, the retailer intends to capitalize on the India market. Braden Richter, CEO of LuxeYard says this deal provides access to one of the fastest-growing e-commerce markets in the world, where rising consumer spending power and demand for luxury goods will combine to help achieve their revenue goals and business objectives.

Chimala points out that the e-commerce market is in a state of rapid growth and the flash sale model is just now beginning to emerge in India. He says their partnership is structured to immediately leverage respective products, people and technology and will allow LuxeYard to enter the market quickly.