Snapdeal shuts premium fashion portal Exclusively.com, integrates with itself
E-commerce major Snapdeal will shut down Exclusively.com and will integrate the latter's catalogue with itself, about 18 months after acquiring the premium branded fashion and lifestyle products marketplace.
New Delhi: E-commerce major Snapdeal will shut down Exclusively.com and will integrate the latter's catalogue with itself, about 18 months after acquiring the premium branded fashion and lifestyle products marketplace.
"Snapdeal has completed the integration of Exclusively with itself. The entire catalogue of Exclusively, including fashion and lifestyle products, footwear, accessories will be available on Snapdeal and will be fulfilled through Snapdeal's logistics network," Snapdeal said in a statement.
A Snapdeal spokesperson said the company has absorbed all the employees of Exclusively.com and they will continue with their existing business responsibilities.
She, however, did not comment on the number of employees Exclusively.com has.
The Exclusively.in website will cease to exist in a few weeks as a standalone portal and will not accept orders from users, she said.
In February last year, Snapdeal had acquired Exclusively for an undisclosed amount.
Exclusively offers products from designers and brands like DKNY, Armani, Michael Kors, Porsche Design, Marc Jacobs, Vera Moda, FCUK, Biba, AND, WLS, Being Human, UCB, Puma and Clarks.
"This integration will ensure a wider access for the fashion and lifestyle products available on Exclusively, as now all Snapdeal users will have access to the same. This move comes as Snapdeal adds more depth and brands to the fashion category," it said.
Fashion is important for e-commerce category with players like Snapdeal, Flipkart and Amazon battling for leadership as high margins are higher in the category compared to mobile phones and books.
According to a report by Google-AT Kearney, fashion is expected to overtake consumer electronics as the largest category at 35 per cent of the total online spending by 2020. In July, Snapdeal was in race to acquire online fashion retailer Jabong before the deal was clinched by bigger rival Flipkart.
Flipkart-owned Myntra bought Jabong for USD 70 million in an all-cash deal to consolidate poistion in online fashion market in India.
Close on the heels of Flipkart’s massive round of funding, Snapdeal looks to have raised $75 million in a round of funding from Softbank
Snapdeal's founder and chief executive Kunal Bahl said on Saturday the e-commerce major is close to announcing an acquisition, which will play the role of an enabler for the platform.
Co-founder of Snapdeal.com Kunal Bahl has confirmed to VentureBeat that he plans to the take company public soon in the US.