Top News

Snapdeal may be in talks to acquire designer apparel e-tailer Exclusively.in

E-commerce
player Snapdeal.com may acquire Exclusively.in, a site that sells designer
brands, to strengthen its fashion business.

E-commerce
player Snapdeal.com may acquire Exclusively.in, a site that sells designer
brands, to strengthen its fashion business.

According
to a Economic
Times
report, Snapdeal is expected to take over Exclusively as part of its
acquisition plans following the $627 million funding the company raised from
Japanese telecom and internet giant Softbank in October 2014.

The
deal has reportedly been in works for months and is likely to come through as
Exclusively Founder Sunjay Guleria has agreed to the valuation, reports the
Economic Times, citing sources. Guleria had sold the Sher Singh apparel brand
along with co-founders in 2012 to Myntra.

The
company plans to use Exclusively to shore up its fashion offerings besides
extending it to offer global bridge-to-luxury and even luxury brands, one of
the source told the Economic Times.

In
2014, Flipkart acquired Myntra as part of its fashion push. Rival Amazon is
also planning its own line of private labels for apparel and other lifestyle
products, making India perhaps the first country in which the US e-commerce
giant will do so. 

In
December, Snapdeal acquired gift recommendation site Wishpicker for an
undisclosed amount as its first buyout after raising money from Softbank. Few
days back, it was reported that Snapdeal is in talks with investors to raise
another $400 million that would possibly value the company at $5 billion. 

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close