Online ethnic fashion, food and home decor marketplace Craftsvilla.com plans to launch in-house branded products in 2017 and is looking to turn profitable in the next six months.
“We are considering launching our own in-house branded products next year in food, home decor and fashion,” Manoj Gupta, co-founder of Craftsvilla said.
“The Sequoia Capital and Nexus Venture Partners backed ethnic store is targeting overall profitability by the end of the current fiscal. We are focused on becoming profitable in the next six months,” he said.
80 per cent of the company’s sales comes from ethnic fashion segment, while ethnic food and home decor contribute about 10 per cent each.
“We entered the ethnic food space in early 2016 through our acquisition of Place of Origin, and also entered home decor segment. In the next three years, we aim to deepen these two categories to account for 25 per cent each of our sales, and ethnic fashion will contribute 50 per cent. We are looking at building Craftsvilla as a complete ethnic brand. We are keen on creating value and streamline this through our brand,” Gupta added.
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