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Tag: Radhika Aggarwal

  • ShopClues raises Series E at a valuation of $1.1 billion

    ShopClues raises Series E at a valuation of $1.1 billion

    MUMBAI: Online retailer ShopClues.com that led the adoption of the marketplace model in India received an undisclosed amount of funding in its Series E round. With this deal, ShopClues’ valuation stands at more than $1.1 billion. The round of capital infusion is being led by GIC, the largest sovereign wealth fund of Singapore. Existing investors, including Tiger Global and Nexus Venture Partners, have also participated in this round of funding.

     

    GIC’s head of Asia Equities research Ravi Balasubramanian said, “As a long-term investor, GIC believes in the strong growth potential of India’s e-commerce industry. We are confident that ShopClues’ merchant-first mind-set and solid management team will enable the company to expand its reach, especially in the Tier-2 and Tier-3 cities, bringing its unique value proposition to even more consumers and merchants.”

     

    ShopClues CEO and co-founder Sanjay Sethi added, “ShopClues has consistently demonstrated that hyper-growth and strong business fundamentals are not mutually exclusive. The recent addition of GIC and the continued strong support from our existing investors is a validation of our capital efficiency with a clear path to profitability. This investment will enable us to double our focus on digitising our merchants’ businesses so that they scale to fully leverage the opportunity online commerce provides them.”

     

    The capital raised will be used to focus on building and rolling out new products to enable the SME merchants to digitise their business and to further entrench itself as the e-commerce operating system on the cloud.

     

    ShopClues co-founder and chief business officer Radhika Aggarwal said, “Today, we are the dominant player in low price-point & unstructured categories like lifestyle, home, kitchen, electronic & automotive accessories etc. Our focus on selection, value and trusted shopping for Indian middle class consumers has given us tremendous scale with a rapidly growing buyer & merchant network. We are confident that our capital efficiency & execution will make this our last fund raise before we become profitable with the eventual IPO in 2017.”

  • ShopClues launches TVC on Sunday Flea Market

    ShopClues launches TVC on Sunday Flea Market

    The campaign shows how consumers gasp with disbelief when they see the discounts on offer.

     

    MUMBAI: ShopClues has rolled out another witty and engaging TVC to highlight the incredible propositions offered on its Sunday Flea Market. Through the ad film, ShopClues showcases how shoppers gasp with disbelief when they check out the discounts and deals on this exclusive sale property.

     

    The new TVC created and conceptualised by Enormous Brands plays on the popular Indian notion that when someone remembers you, you start hiccupping ceaselessly. The ad film shows a woeful man called “Bhai Sahab” who suffer this fate every Sunday when people around the country see the deals on offer on the Sunday Flea Market and let out the popular expression of surprise in India, “Oh Bhai Sahab.” In a most endearing and relatable way, the TVC illustrates how unbelievable the offers are during this ShopClues property. The core idea is encapsulated in the final message of the creative, “Duniya bhar ka aflatooni samaan, kuch aflatooni rates par.”

     

    Speaking on the campaign, ShopClues.com CBO and co-founder Radhika Aggarwal said, “The ShopClues Sunday Flea Market has been a tremendous success since its launch. It appeals to the common Indian who is used to shopping at delightful price points from local bazaars on specific days of the week. We have emulated this delight on the online platform and through this TVC we want to garner greater mindshare for this one-of-its-kind online flea market. The idea is to get more and more shoppers to check this property out and fulfil all their needs at the best possible prices!”

     

    Enormous Brands managing partner Ashish Khazanchi added, “The Sunday flea market offers unbelievable deals on everyday products. ‘Unbelievable’ being the starting point, we used the exclamation “oh bhai saab” to portray the same. The commercial shows a hapless ‘bhai saab’ hiccuping incessantly on Sundays, when people inadvertently call out his name. We see the kinds of products available, and humorously establish Sunday as SFM day in the minds of the customers.”

  • ShopClues makes top talent acquisition for categories div

    ShopClues makes top talent acquisition for categories div

    MUMBAI: ShopClues has appointed Raunak Raheja and Nitin Sharma as category management directors.

     

    While Raheja’s focus at ShopClues will be on scaling up the wholesale marketplace initiative, Sharma will be helming the electronics category.

     

    Raheja will be overseeing the key properties of ShopClues including the neighbourhood store initiative and cross border trade. Heading the wholesale marketplace initiative, he will also be planning the strategic roadmap for B2B channels and driving the refurbished products supply.  

     

    ShopClues co-founder and chief business officer Radhika Aggarwal said, “At ShopClues, we are scaling up at a breakneck speed. Category management is a vital vertical for us during this phase of evolutionary growth. I’m pleased to welcome Raunak and Nitin on board at ShopClues. Both of them come with profound experience in e-commerce and category management and    we look forward to their valuable contributions to our growth gradient.”   

      

    Sharma is a telecom and IT sales professional with over 12 years of experience. He was previously HP India Sales country category manager for Ink Supplies. He has also been associated with other top businesses in the country including Nokia, Idea Cellular, Reliance Communications and Taj Group of Hotels.

     

    Raheja is an e-commerce and retail professional with over 9 years of work experience in marketplace & e-retailing models. He has diverse experience and has also worked with e-commerce companies like eBay, HomeShop18 and Ibibio Web. 

  • ShopClues makes key senior leadership appointments

    ShopClues makes key senior leadership appointments

    MUMBAI: ShopClues has hired top talent in leadership ranks of its category division. The company has appointed Nitin Kochhar as AVP and Animesh Kumar associate director.

     

    Kochhar will maintain and build the strong foothold of various categories on the website including home and kitchen, electronics, tech products etc.

     

    Kochhar said, “I’m thrilled to be a part of one of India’s fastest growing e-commerce ventures. My goal will be to leverage category exposure in electronics, FMCG, baby care, books and office supplies and apply it at ShopClues. ShopClues is in an exciting phase of growth and expansion and I’m happy to come on board at this crucial stage.”

     

    Kumar added, “I’m always looking for new challenges in my career and with ShopClues I have another opportunity to deliver significant results. The marketplace and its differentiated value proposition hold tremendous potential in India. I will be keenly involved in managing category performance including SKU rationalisation, vendor relationships and contract negotiations which form a very vital aspect of any e-commerce business.” 

     

    ShopClues co-founder and chief business officer Radhika Aggarwal said, “We are most pleased to have Kochhar and Kumar on board. Our broad range of unstructured categories is one of our USPs and therefore this division is very significant for our marketplace model. Nitin and Animesh are best suited to head this division as both have over a decade of relevant experience and have played a pivotal role in turning around the e-commerce businesses they have been a part of. We look forward to the positive impact of their leadership, dynamism and proven abilities in scaling business growth.”

     

    Former Flipkart senior director of business development, Kochhar has over 10 years of professional experience.

     

    Kumar, who has been the founding team member at Fashionara, has 11+ years of leadership experience and has previously worked with companies like Indus-league, Reliance Trends Ltd. and Bharti Wal-Mart.

  • ShopClues’ TVC named best ad campaign at Indian e-retail Awards

    ShopClues’ TVC named best ad campaign at Indian e-retail Awards

    MUMBAI: At the recently held Indian e-retail Awards 2015, ShopClues’ TVC ‘From Ding to Dong’ released in September 2014 won the ‘Advertising Campaign of the Year.’

     

    Created by Enormous Brands, Mumbai, the TV ad campaign highlighted the online retailer’s value proposition of being the ultimate destination for a wide variety of products available at wholesale rates.

     

    ShopClues.com co-founder and CMO Radhika Aggarwal said, “We are thrilled at receiving an award for a TVC we worked really hard for. Congratulations are also in order for our creative agency and the marketing team which spearheaded the entire idea and its execution. The award validates our initial intention of creating an ad film that speaks directly to our target audience in a language that most appeals to them. It encapsulates why ShopClues is the ultimate online shopping destination in a very quirky, fun, simple yet articulate manner.”

     

    The ShopClues ad film shows a man carrying everything from utensils to ovens to geysers to kitchen ware as a stack on his head as he goes through the streets of a city. The unusual style and size of the stack attracts curious glances from onlookers. The soundtrack goes, ‘Wholesale ka rate….tu kya lega, seth‘ (At wholesale rates, what do you wish to buy, Sir?). A man from a balcony picks up a hat from the over-sized stack of goods and says, ‘Saara wholesale ka market… theek aapke ghar tak…har item wholesale rate par.’  The film ends with the tagline, ‘Sab kuch wholesale rate pe, Ding Se Lekar Dong‘ (everything at wholesale rates, from ding to dong).

     

    The Indian e-Retail Awards recognise excellence in e-retail and multi-channel initiatives by retailers.