Snapdeal to wind up Exclusively.com, will bring the company's catalogue onto its own platform
E-commerce major Snapdeal will soon shut down Exclusively.com and will integrate the latter's catalogue with itself, about 18 months after acquiring the premium branded fashion and lifestyle products marketplace.
Snapdeal has completed the integration of Exclusively with itself. The entire catalogue of Exclusively, including fashion and lifestyle products, footwear and accessories, will be available on Snapdeal and will be fulfilled through Snapdeal's logistics network, Snapdeal said in a statement.
A Snapdeal spokesperson said the company has absorbed all the employees of Exclusively.com and they will continue with their existing business responsibilities. She, however, did not comment on the number of employees Exclusively.com has.
The Exclusively website will cease to exist in a few weeks as a standalone portal and will not accept orders from users, she said. In February last year, Snapdeal had acquired Exclusively for an undisclosed amount.
This integration will ensure a wider access for the fashion and lifestyle products available on Exclusively, as now all Snapdeal users will have access to the same. This move comes at a time when Snapdeal is adding more depth and brands to the fashion category.
Fashion is important for the e-commerce industry, with players like Snapdeal, Flipkart and Amazon battling for leadership in the ecosystem, as margins are higher in the category than in mobile phones or books. According to a report by Google-AT Kearney, fashion is expected to overtake consumer electronics as the largest category in e-commerce, with an expected 35 percent of the total online spending by 2020.
In July, Snapdeal was in the race to acquire online fashion retailer Jabong before the deal was clinched by bigger rival Flipkart. Flipkart-owned Myntra bought Jabong for $70 million in an all-cash deal to consolidate its position in the online fashion market in India.