ShopClues opens up its Bulk Factory for consumers.
Bengaluru | RNW | By ET Bureau | 9 Feb, 2016, 03.02 AM IST.
ShopClues, a managed marketplace has announced the launch of its Bulk Factory campaign for businesses and consumers alike. Shoppers can now buy products from a wide range of categories in larger quantities to avail wholesale rates starting from Rs 51 only. Last year, ShopClues had launched the ‘Bulk Factory’ in July specifically for SME businesses that witnessed 10X growth.
Nitin Kochhar, vice president category, ShopClues said, “We witnessed an overwhelming response from the B2B segment for the Bulk Factory that we launched last year, making us the preferred sourcing destination of merchants, SMEs and resellers across the country. Buoyed by such phenomenal traction, we decided to launch this new campaign so that individual customers who also wish to buy in larger quantities can enjoy wholesale prices. This is an unmatched proposition for them and ensures supreme shopper delight”
The campaign enables customers to save more by buying more i.e., slab wise pricing depending on quantity.
ShopClues is has over 100 million monthly visitors on its website and was founded in July 2011 in Silicon Valley by Sandeep Aggarwal. With 3.5 crore listed products and over 3,50,000 merchants, it ships in over 25,000 cities across India and has thousands of online stores. The company is run by cofounders Sanjay Sethi and Radhika Aggarwal. It has a team of 1000 people and is funded by institutional investors.
ShopClues is valued at more than $1.1 billion (Rs 7,300 crore) following an undisclosed funding round led by Singapore’s sovereign wealth fund GIC last month, which it said was its last before a public share listing next year.
Existing investors including New York-based hedge fund Tiger Global Management and Nexus Venture Partners participated in this round of funding.