Shopclues’ e-commerce export business will reach $100 million in profit by the end of the year

E-commerce platform Shopclues expects its e-commerce export business to generate profits of $100 million by the end of the year. The Gurgaon-based company aims to take Indian brands to global markets and is working to bring artisans online.

“Our target is to reach $100 million in e-commerce exports by the end of the year and we are confident that we will achieve this target,” Shopclues managing director Anuraag Gambhir told India Retailing. “If any small and medium Indian brand wants to go global today, we are the platform they should come to.”

Shopclues’ export business currently stands at $12 million and is expected to grow to $100 by the end of the year. Shopclues’ other goals include expanding sourcing options and to this end, it is working with the Government of India to provide internet access to both artisans and micro, small and medium enterprises.

Shopclues was launched in 2011 and later acquired by Singapore-based marketplace Qoo10 in 2019. This enabled Shopclues to leverage Qoo10’s network in Southeast Asia for cross-border trade. The company currently has approximately 1.1 million plus registered sellers on its platform.

“Qoo10’s vision has always been cross-border trade,” Gambhir said. “Our strength is in facilitating smooth and fast cross-border transactions.”