Snapdeal to invest $100mn to boost fashion biz segment – Feedback

India’s third largest e-tailer Snapdeal will pump in $100 million over the next one year to uplift its online fashion portfolio in the wake of surging competition from its peers. The Indian e-commerce major will not be only focusing on selling branded products but will also build its own capability affordable and high quality fashion products.

“In the next few months, we’ll be making some big moves in fashion. We’ll not limit ourselves to selling other people’s products only,” Snapdeal co-founder and CEO Kunal Bahl said at the Foundation Day programme of the IIM Calcutta. According to Bahl, there is a huge mismatch in the offline and online sales of apparels in India. He said non-branded products comprise 90% of the offline sales while in the online space, 90% of the apparel sales are branded. “We have to figure out this huge mismatch.

http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/snapdeal-to-invest-100mn-to-boost-fashion-biz-segment/55432968

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