Snapdeal shuts down Exclusively.com

About Exclusively.com:

Exclusively was founded in 2010 by Sunjay Guleria and Mohini Boparai Guleria and targeted US and UK markets predominantly. The Gulerias have sold the company twice since the time it was founded. In November 2012, the company was bought by Myntra.com along with the subsidiary shersingh.com which was an online retailer of private label sports garments but the Gulerias managed to buy it back from Myntra with the help of Angel investors.

In February 2015, the company was purchased by Snapdeal for an undisclosed amount. The name was changed from Exclusively.in to Exclusively.com

Exclusively provides a range of apparel and footwear from both Indian designers and international luxury brands that include DKNY, Armani, Michael Kors, Porsche Design, Marc Jacobs, Vera Moda, FCUK, Biba, AND, WLS, Being Human, UCB, Puma, Clarks and Fabindia amongst others.

Related Post: Ola shuts down Taxi For Sure services

The merger:

Snapdeal has shut down exclusively.com from functioning as an independent entity and has merged it in the website. Now, Snapdeal will offer the Exclusively catalogue clothes on their website.

“Snapdeal has completed the integration of Exclusively with itself. The entire catalogue of Exclusively, including fashion and lifestyle products, footwear, and accessories will be available on Snapdeal and will be fulfilled through Snapdeal’s logistics network,” Snapdeal said in a statement.

“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,”



A Snapdeal spokesperson said the company has absorbed all the employees of Exclusively.com. The only difference will be that Exclusively.com’s products will now be handled by Snapdeal logistics.

Related Post: AskMe.com unable to pay salaries and vendor dues

Reasons:

This merger might prove to be beneficial for Snapdeal as Exclusively is a premium, luxury based apparel company which contributed to only 5% of Snapdeal’s fashion orders. Letting it function as a separate entity would’ve put more monetary pressure on the parent e-commerce site and not resulted in enough returns. Also, because Amazon India leads in all sectors except fashion, Snapdeal needs to contest worth Flipkart in this field since Myntra-Jabong occupy almost 70% of the e-commerce fashion market.

Outcome:

This will aggressively cut extra costs for Snapdeal and conserve cash in the slow-moving e-commerce industry. Bringing Exclusively.com under Snapdeal’s logistics will cut costs and also improve efficiency.



Facebook Comments

Related Post

Author: OOS Team

Explaining bits and bytes of startups and entrepreneurship.

Share This Post On