Snapdeal.com has acquired premium and luxury fashion site Exclusively.com. With this acquisition, Snapdeal.com looks to further strengthen its fashion business and reach $2 billion in gross merchandise value in the fashion category this year.
Currently the fashion business contributes to over 60 per cent of the volumes of orders at Snapdeal.
Kunal Bahl, co-founder & chief executive officer, Snapdeal.com said, “We have witnessed a surge in the demand from consumers across the country for premium and luxury products, however, given that access to luxury brands is severely limited in our country, we have brought Exclusively into our family to provide our 40 million+ users the access to widest range of aspirational, high end products and services. At present, Exclusively.com retails hundreds of India’s leading designers on its site, including Manish Malhotra, Tarun Tahiliani, Manish Arora, Anita Dongre, Rohit Bal, Gaurav Gupta, JJ Valaya, Ritu Kumar, Varun Bahl, Shivan & Narresh and Neeta Lulla.”
Sunjay Guleria and Mohini Boparai-Guleria, Co-Founders of Exclusively said, “With increased awareness and growing disposable incomes, premium and luxury consumption in India is seeing a significant upward trend. With the geographical limitations of the brick-and-mortar model, we strongly believe that the luxury and premium segments can only be grown by sharing access with the consumer.”