Delhi-based ecommerce firm Surpluss.in, which sells refurbished gadgets and home appliances, recently forayed into premium designer wear products with the launch of a lifestyle category on its platform.
The firm, which has tied up with 25 luxury brands, including Guess, Fossil among others — to retail their manufacturing and trade surpluses at 25%-30% lower prices on its platform– wants to reach pan-India in the next five years.
“With this extension, we want to become a platform where consumers can buy any aspirational brand’s merchandise at an affordable price. In five years, we want consumers pan-India to visit our website before buying any luxury brand. And we will make sure that we have the availability,” Yasharth Verma, Executive Director, Surpluss.in told Indiaretailing.
“Also, the luxury e-commerce lifestyle market in India is expected to grow to USD 25 billion by 2016, on the back of a compounded growth of 25% annually. And we see a huge gap for this sector in the online space,” Verma added.
The company intends to make the lifestyle segment 50% of the total business of Surpluss.in and plans to sign up more than 100 market place partners within this year.
Until recently, Surpluss has been operating through an inventory based model for refurbished electronic goods; with its lifestyle segment, the firm has also moved to a marketplace model. Earlier this month, the company also tied up with Amazon India to sell refurbished smartphones of Samsung , Xiaomi, LG, Lava, among others, on its platform. The move is to empower the latter’s refurbished corner.
Also read: Refurbished goods: How e-comm majors are monetising the ‘Returns’
“In the coming months, we will also invest in upgrading our technology muscle to give a seamless experience to our consumers and brands,” Verma stated.