Online marketplace Snapdeal today announced the acquisition of Exclusively.com (formerly Exclusively.in), the definitive online destination for premium and luxury fashion, to create ‘India’s first online luxury mall’.
Exclusively will complement Snapdeal’s existing ecosystem and will provide a consolidated offering for the luxury and lifestyle shopper.
With more than 70% consumers wanting to shop for luxury products in India rather than abroad, Snapdeal has targeted $2 billion in GMV in the fashion category this year.
Luxury products and services is a $14 bn market in India and it is growing at 30% YoY, according to a recent KPMG-ASSOCHAM report.
Exclusively is the leading global ecommerce destination for premium Indian fashion brands. Curated with a fashion-forward consumer in mind, Exclusively offers a comprehensive collection of designer apparel and accessories, showcasing over 200 labels.
Founded in 2010, with offices in New York and New Delhi, Exclusively is dedicated to supporting Indian fashion and the cultural diversity that emerges from uniting the perspectives of designers & brands, with unique styles and vision.
Snapdeal.com is an online marketplace, New Delhi, India. The company was started by Kunal Bahl, a Wharton graduate as part of the dual degree M&T Engineering and Business program at Penn, and Rohit Bansal, an alumnus of IIT Delhi in February 2010.
Snapdeal.com was started in February 2010 as a daily deals platform inspired by Groupon.com but expanded in September 2011 to become an online marketplace. Snapdeal has grown to become the largest online marketplace in India offering an assortment of 4 million+ products across diverse categories from over 50,000 sellers, shipping to 4,000 towns and cities in India.