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Tag: ShopClues.com

  • ShopClues.com Launches ‘AtmaNirbhar’ Store on Homepage; Will Promote ‘Made In India’ Products As Part of PM’s Vocal For Local Initiative

    ShopClues.com Launches ‘AtmaNirbhar’ Store on Homepage; Will Promote ‘Made In India’ Products As Part of PM’s Vocal For Local Initiative

    ShopClues.com, India’s leading value-for-money online marketplace, has launched the ‘AtmaNirbhar’ store on its homepage starting June 4th that will exclusively offer domestic products that are ‘Made In India’ across categories including fashion, footwear, home & kitchen, jewelry & watches, groceries, electronics, beauty and appliances and many more.

    ShopClues.com's new ‘AtmaNirbhar’ store takes forward the Indian Prime Minister’s ‘Vocal for Local’ message to the nation urging Indians to be self-reliant and buy products that are domestically manufactured and sourced. All local products in the new store will be easily identifiable with a ‘Made in India’ badge on product images. 

    “As part of the AtmaNirbhar Bharat Abhiyaan, ShopClues has launched this new online store to promote and support domestically manufactured products. Our platform will not only encourage more indigenous brands to flourish and grow through our customer base located across 31,500 pin codes in India but also help to reopen of MSME sellers while we continue to work behind the scenes to ensure efficient operations of the marketplace post lockdown. The ‘Made In India’ badge on each local product will give distinct visibility to the product helping customers to easily identify and pick out these products,” said Sanjay Sethi, Chief Executive Officer, ShopClues.

    Local brands interested in being part of ShopClues’ are welcome to onboard as a seller and become a part of our seller community. At present, the e-commerce platform has over 2500 sellers falling under ‘Made in India’ initiative and over 1 lakh products can be identified with ‘Made in India’.

    Some of these domestic brands include Digimate, Khadi, Pause, Clymb, Darkpyro, Ikall, Sukkhi, and Patanjali. It is planned to onboard new SME manufacturers/ sellers that can use the ShopClues’ platform to merchandise products made by them. 

    ‘Made in India’ badge is currently live in M-Site and Website. The feature will available to App Customers very soon. 

  • ShopClues signs MoU with KOTRA to get authentic Korean products to India

    ShopClues signs MoU with KOTRA to get authentic Korean products to India

    MUMBAI: ShopClues and Momoe Technologies (part of Clues Network) have entered into a strategic Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA), reinforcing its commitment to making available authentic and premium Korean products on its online platform.

    As part of the MoU, KOTRA will identify outstanding Korean enterprises and support their entry into the Indian retail market with the help of ShopClues. In turn, ShopClues will offer an exclusive category called K-Avenue dedicated to Korean products on its website. ShopClues will also hold promotional events with the help of KOTRA while also encouraging Indian vendors to import and sell Korean items on its platform.

    “We expect that the advent of Singapore’s Qoo10 into India through Shopclues and Momoe will be a turning point in bringing both premium Korean goods into the Indian market, and Indian products to Korea’s customers,” said KOTRA South Asia Regional Head Office director General Moon Young Kim.

    “As Korea’s sole National Trade and Investment Promotion Agency operating in 130 overseas branch offices, including 6 in India, KOTRA will support mutually beneficial activities in both countries. Any Indian company that wishes to be connected with Korean counterparts and products can contact us for our utmost assistance,” he added.

    Momoe Technologies, as a part of the MOU, will look into the setting up of logistics centres in major Indian cities and offer logistics services including transportation and customs clearance, to ensure a seamless supply chain. Qoo10-owned logistics company Qxpress will also support the venture by offering competitive international shipping rates to Korean exporters.

    By cushioning the heavy resources required of most enterprises looking to enter a new market, the effects of this MoU are expected to enable a smoother entry for Korean brands in India. Additionally, it will provide freer access to a wider variety of Korean products for Indian consumers to choose from.

    “This MoU is a win-win for all parties involved, but especially for our Indian customers who will now have access to some of the best and most diverse range of products manufactured by outstanding Korean enterprises. We also see this as a huge opportunity to be able to bring India’s beautiful products to the booming Korean market,” said Shopclues.com co-founder and CEO Sanjay Sethi.

  • 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.”

  • Maxus bags media planning mandate of Shopclues.com

    Maxus bags media planning mandate of Shopclues.com

    MUMBAI: Maxus has won the media planning duties for e-commerce venture Shopclues.com following a multi agency pitch.

     

    The Maxus Delhi team will be managing the account under the aegis of Maxus managing partner Navin Khemka. 

     

    Maxus South Asia managing director Kartik Sharma said, “It is indeed a prestigious win for us and we are thrilled to partner with the Shopclues team and to grow with them as their business scales newer heights. We are particularly excited to bring out the best business-oriented solutions for them.”

     

    Shopclues.com co-founder and chief business officer Radhika Aggarwal added, “We are on a very rapid growth orbit and after careful evaluation we decided Maxus will be an ideal partner for driving this growth engine. We are excited to have Maxus on board and confident that their innovative strategic and creative inputs will create the right buzz that we as a brand need today. We expect a lot of superlative work on our brand.”

  • ShopClues.com hops on as official e-commerce partner of Chennai Super Kings

    ShopClues.com hops on as official e-commerce partner of Chennai Super Kings

    MUMBAI: ShopClues.com has come on board as the official e-commerce partner of the Chennai Super Kings (CSK) team.

     

    The tie-up with this Indian Premier League (IPL) team will provide a robust edge to the ShopClues.com brand identity during the IPL season, which kicks off on 8 April, 2015.

     

    Through the official partnership, ShopClues.com will place its logo on the leading side of the cap, helmet and hat of the CSK players. 

     

    ShopClues.com co-founder and chief business officer Radhika Ghai Aggarwal said, “Our marketplace caters to mass India and there is nothing that appeals more to our target market than cricket. Keeping this incontrovertible truth in mind, we chose to partner with CSK, which has been the best performing team in the Indian Premier League. Through this association, we wish to leverage the combined brand synergies to create greater engagement with our customers, both existing and potential.” 

     

    ShopClues.com will use the CSK association in all its communication across media including in-store, POS, other ground activation, digital and all other new emerging media, using the team’s logo. The company will also be purchasing and selling CSK merchandise through its website.

  • Tiger Global infuses $100 million funding in ShopClues

    Tiger Global infuses $100 million funding in ShopClues

    MUMBAI: Online retailer ShopClues.com has raised over $100 million in a fresh round of funding led by global institutional investors Tiger Global as well as its existing investors Helion Venture Partners and Nexus Venture Partners.

     

    ShopClues CEO and co-founder Sanjay Sethi said that the company has bought 100,000 sellers and 10 million products online until now and plans are afoot to bring 10 million sellers and one billion products on the online domain in the next three years.

     

    “We will continue to build technologies and services to enable and empower retailers to participate in the e-commerce revolution that is happening in India. ShopClues levels the playing fields for SMBs to compete with other organized retailers both in the online and offline space,” added Sethi.

     

    Tiger Global partner Lee Fixel said, “ShopClues has emerged as the leading marketplace of choice for the millions of small and local businesses seeking to reach mass consumers in India’s tier 2 and tier 3 cities. Sanjay, Radhika and the team have done a great job aggregating the country’s largest online catalog of regional and local brands and we are excited to partner with ShopClues as it expands its offerings.”

     

    ShopClues co-founder Radhika Ghai Aggarwal feels that in Tiger Global, it has found a strategic partner who showed confidence in its capability to operate the country’s largest marketplace for the masses. Be it the million of small merchants wanting to sell online or the vast pool of shoppers in tier 2-3 towns looking for access to the products and categories that they never had before.

     

    “The fact that another ace investor has been added to our list of institutional investors is a strong endorsement of our team, strategy and business performance,” she added.

     

    ShopClues was founded in 2011 as India’s first fully managed marketplace, when all other players were inventory led models. Currently, ShopClues does 1.5 million transactions per month with 70 per cent of them coming from tier 2 and 3 cities and the platform empowers over 1 lakh SMBs which is the largest community of sellers in India in the online space.

     

    Unlike other marketplaces, which tend to focus on mobile, electronics, computers and branded fashion, ShopClues focuses on unstructured categories, which contributes to two-third of its revenues.

  • ShopClues.com scouts for a creative partner in Gurgaon

    ShopClues.com scouts for a creative partner in Gurgaon

    MUMBAI: ShopClues.com, has initiated a multi-agency pitch to bring on board a creative partner to lead its mass media strategy in Gurgaon. ShopClues.com is India‘s online marketplace that connects buyers and sellers by offering a shopping experience. This is the first time that the company has called for a creative pitch.

    Two years into operations, ShopClues.com has previously been active on the social media, radio and the outdoor front. Till now the online and ATL campaigns were done in-house. With the growth and expansion in the company and the boom witnessed in the e-commerce space, the company is set to get on board a creative partner for its mass media strategy.

    ShopClues.com founding member and corporate vice-president marketing and Merchandising Radhika Aggarwal said, “Having built a wide assortment across 900+ product categories, we are now looking for a creative partner who will further help us strengthen our position as a one-stop destination for millions of online customers across India. Within just two years of launch, we have achieved to ascend from 35th to be among the top six e-commerce destinations in India, and with a new creative partner on board, we want to take it a step ahead.”