Exclusively.in, an e-commerce portal targeting the US market with high priced Indian goods at a discount has raised $2.8 million from Accel Partners and Helion Venture Partners, reports TechCrunch. Exclusively.in holds limited time sales for unusual and limited edition items, they claim, at a discount of up to 70%, though shipping charges are extra, ranging from $9.99 to $59.99, depending on the value of the item. Currently on sale: Bollywood posters, hotel packages, jewelry, shawls, sarees, kurti’s, among other items. Sales usually last 3-14 days, and delivery takes 7-10 business days. Exclusively.in CEO Sunjay Guleria told TechCrunch that over 65 of its members make repeat purchases, and the average purchase is around $250.
I’d first heard of Exclusively.in when they had bought 10 copies of the limited edition ‘The Gandhi Collection’ photographs in July, for $3,250, for sale on their site. They use Facebook, Twitter and a deals newsletter to keep users updated about items on sale.
Exclusively.in is currently targeting only the US market: they accept only US credit cards for purchases, and ship only to the US; however, according to its site, intends to expand shipping to Canada, UK and India.
However, while the items on sale might be
exclusive limited in availability, the site is still pushing for registrations: there’s a $20 credit for users who get their friends to register and buy. What’s the point of members only if anyone can become a member?
Apart from expanding shipping, I guess more money will allow them to put more exclusive items on sale. Scaling is largely going to be about expanding the buyer base (which allow them to push up prices and hence margins), and also acquiring more items for sale to maintain differentiation. A few other sites in this domain – India Today has BagItToday, which is really more about deals than exclusive high end items; there’s FashionAndYou, and former Burrp CEO Deap Ubhi is launching Liluxe.com.