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LimeRoad enters menswear segment

Update On :31 May 2016

LimeRoad enters menswear segment

LimeRoad, an online fashion retailer for women is diversifying into the men's category a move aimed at expanding its scale. The four-year-old company, founded by former Ebay and Facebook employees, is introducing its men's range with about 60,000 products along with a lakh of scrapbooks for men.

The move is aimed to boost its gross merchandise value (GMV), which has grown about 60% over the last three months, according to the Gurgaon-based startup. LimeRoad clocked a GMV of about Rs 200 crore in the year-ago period. GMV is overall sales by merchants on an e-commerce platform, without factoring discounts and returns.

The women's style market is much more fragmented and we wanted to prove our mettle with the toughest segment first. Having gotten some measure of success with that difficult-to-please segment, we felt it was the right time to broaden our business to welcome men as well, said Suchi Mukherjee, founder and CEO at LimeRoad.

The Tiger Global-backed company will compete with fashion focused e-tailers such as Myntra, Jabong, besides the horizontal e-commerce players like Amazon and Flipkart.

News Source From : http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/limeroad-enters-mens-category/52475525

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