Indian e-retail store Snapdeal has bought another online fashion store, Exclusively.com. Founders Sunjay Guleria and Mohini Boparai Guleria have sold and bought the company twice over after the inception during 2010. In November 2012, online fashion retailer Myntra bought Exclusively.in together with its subsidiary SherSingh.com, an online retailer of private label sports apparel.
And in June 2013, the founder of this company has bought back the Exclusively.com from Myntra. According to Snapdeal, Exclusively, will remain as an independent site and all aspects of Exclusively's online shopping experience will remain the same. Currently retails India's leading designers on its site, including Manish Malhotra, Tarun Tahiliani, Manish Arora, Anita Dongre, Rohit Bal, Gaurav Gupta, J.J. Valaya, Ritu Kumar and Varun Bahl.
"Snapdeal has always operated ahead of the curve in the e-commerce space, especially when it comes to category leadership. We have witnessed a surge in the demand from consumers across the country for premium and luxury products, however, given that access to luxury brands is severely limited in our country, we have brought Exclusively into our family to provide our 40 million+ users the access to widest range of aspirational, high end products and services", said Kunal Bahl, co-Founder & CEO, Snapdeal.com in the company blog.
Online retail store, Snapdeal, which has raised in excess of $1 billion last year from investors including Japan's SoftBank Group, posted a loss of Rs.264.6 crore on revenue of Rs.168.1 crore in 2013-2014.