New Delhi: E-commerce marketplace ShopClues Thursday introduced MEIA, an exclusive fashion label that will be sold solely on its platform. The Gurugram-based company expects the fashion category to grow three times over the next 12 months.
For MEIA, ShopClues has tied up with fashion sellers on its platform to manufacture the merchandise on specifications and designs set by ShopClues. Such in-house labels fetch higher margins for e-commerce marketplaces.
“While the brand (MEIA) is with us, the genesis of the brands continues to be across a bunch of merchants, so in no way it competes with the merchants’ businesses. We identify top-rated merchants and work with them on building up these brands and that is true for the all the exclusive labels we will be rolling out,” co-founder and chief business officer Radhika Aggarwal said.
Currently, under the brand, ShopClues is selling low-cost women wear and jewellery targeted at consumers in tier-II and tier-III markets. Men’s fashion will also be launched under the brand.
This is the second such brand from ShopClues. It recently launched Home Berry, an exclusive label for home décor, and plans to launch two more exclusive brands in footwear and mobile accessories category over the coming months, Aggarwal said.
“Fashion has always been our top performing category, with about 50% of ShopClues’ total revenue coming from the category, and with MEIA launch, we are looking to strengthen our hold in the affordable fashion wear market in tier 2, 3 and 4 cities,” Aggarwal said.
She said the company ships out 3 million units on an average monthly, half of which are fashion items.
[“Source-livemint”]