Snapdeal buys high-end peer Exclusively

Snapdeal, one of India’s largest e-commerce sites, announced Wednesday it has purchased Indian high-end fashion e-commerce site Exclusively.com. Snapdeal is now ready to aim for its 2 billion dollars fashion sales target.

As further explained by both parties, and despite the acquisition, Exclusively will continue to operate as an independent site. The deal will see Exclusively.com benefit from Snapdeal’s nationwide reach, size and technology resources.

“We have witnessed a surge in the demand from consumers across the country for premium and luxury products. Given that access to luxury brands is severely limited in our country, we have brought Exclusively into our family to provide our 40 million-plus users the access to the widest range of aspirational, high end products and services,” Kunal Bahl, co-founder and CEO of Snapdeal.com said in a blog post Wednesday announcing the deal.

Likewise, Exclusively co-founders Sunjay Guleria and Mohini Boparai-Guleria commented the deal highlighting that “The partnership with Snapdeal comes at the right time. With increased awareness and growing disposable incomes, premium and luxury consumption in India is seeing a significant upward trend.” “With Exclusively’s fashion experience and Snapdeal’s scale of operations, we look forward to not just servicing large metros, but also the aspirational demand in smaller towns across India,” they added.

A Snapdeal spokesperson quoted by the ‘Economic Times’ said post this acquisition, Exclusively Co-Founders Mohini Boparai Guleria and Sunjay Guleria will join the Snapdeal family as General Manager - Creative & Catalogue and General Manager - Business at Exclusively.com, respectively.

Snapdeal – which counts on Ebay amongst its main investors - sold an estimated 321.75 million dollar worth of goods via its site in 2014, up 236 percent from 95.76 million dollars a year earlier.