Online shopping portal Snapdeal.com on 18 February 2015 acquired premium and luxury fashion site Exclusively.com for an undisclosed amount.
With this acquisition, Snapdeal.com aims to further strengthen its fashion business and reach 2 billion US dollars in gross merchandise value in the fashion category in 2015.
Under the acquisition, Exclusively.com will complement Snapdeal's existing ecosystem and will provide a consolidated offering for the luxury and lifestyle shopper making it India's first online luxury mall.
Post this acquisition, Exclusively Co-Founders Mohini Boparai Guleria and Sunjay Guleria will join the Snapdeal as General Manager (Creative & Catalogue) and General Manager (Business) at Exclusively.com respectively.
However, Exclusively will continue to function as an independent site and all aspects of its online shopping will remain intact.
Snapdeal forayed into the designer wear category in October 2014 with the launch of The Designer Studio and this acquisition will further strengthen its presence in the luxury and premium products space. Currently, the fashion business contributes to over 60 percent of the volumes of orders at Snapdeal.
• Founded in 2010, with offices in New York and New Delhi, Exclusively offers a comprehensive collection of designer apparel and accessories, showcasing over 200 labels.
• The site features high-end traditional Indian apparel as well as scarves, jewellery, handbags, crafts, paintings, photography and other home goods made by Indian designers.
• Presently, 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.
When: 18 February 2015