Snapdeal has acquired Exclusively.com (formerly Exclusively.in). With this acquisition, Snapdeal.com looks to further strengthen its fashion business and reaching $2 billion in GMV in the fashion category this year.
Luxury products and services is a $14Bn market in India, growing at 30% YoY, according to a recent KPMG-ASSOCHAM report. More than 70% consumers want to shop for luxury products in India rather than abroad.
“Snapdeal has always operated ahead of the curve in the e-commerce space, especially when it comes to category leadership. 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.” [Kunal Bahl, co-Founder & CEO, Snapdeal.com]
If you are confused about Exclusively’s earlier acquisition by Myntra, the deal is simple – Myntra had acquired SherSingh brand from the company.
Exclusively today 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, to name a few.
In 2015, Exclusively plans to launch leading international luxury brands and designers on the site.