wordpress blog stats
Connect with us

Hi, what are you looking for?

Luxury Commerce Site Exclusively.in Raises $2.8 M From Accel, Helion: Report

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.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

News

By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...

News

By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...

News

By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...

News

This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like

News

In 2019, Amazon acquired a 49 percent stake in a promoter company called Future Coupons, and India’s competition regulator had approved the deal. The...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ