New Delhi: A.M. Marketplaces Pvt Ltd, which runs fashion e-tailer for ladies Limeroad, has entered the menswear category with the launch of a new section—Limeroad for guys—in a pass this is in all likelihood to help the employer enhance sales.
“men in India have become encouraged through both nearby and international trends on style andthere is a preference to be higher dressed. They need to try this but in an affordable manner,” Suchi Mukherjee, founder and leader executive, stated in an interview on Tuesday.
The charge range of the products for guys starts offevolved at Rs.three hundred. The agency has 3segments for men—tremendous cheap (Rs.300-499), price range (Rs.500-999) and top class which passupwards of Rs.1,000. The ladies’s range also falls beneath comparable categories.
except affordability, Limeroad is likewise betting on its social trade platform to deal with the visible holeinside the market wherein guys aspire to dress well but truely do now not understand how.
The organisation creates seems through assembling unique products inclusive of a pair of footwear or belt to go together with a selected denim garment. The paintings is carried out through over 200,000 scrapbookers at the platform. it’s been doing the equal for ladies clients so far.
It claims to have over 100,000 style tips and merchandise for guys on the web page.
Limeroad for men presently has 23 sub-categories of clothing and add-ons from over 250 Indian andglobal manufacturers. the types consist of top and backside wear, ethnic wear and innerwear, amongstothers. Colorplus, Globus, Raymond, Armani, go, Park road, Pepe denims, Spykar, and Metro are a number of the brands to be had on the site.
unlike the worldwide market, in India menswear is a bigger marketplace than womenswear. As in step with a observe via consulting firm Technopak, with a marketplace size of Rs.87,500 crore in 2012, menswear is the biggest section in India’s apparel market accounting for 42% of the overall market.
In comparison, womenswear makes up 38%. The menswear market is predicted to grow at a compound annual boom price of 8.five% to attain Rs.1.31 trillion via 2017, it says.
Limeroad will face opposition from larger competitors in the style area—Myntra, and Jabong—besidesAmazon, Flipkart and Snapdeal.
“if you pass on any of the horizontals you’ll find a whole lot of JPEG photographs and what Limeroad can uniquely do is show a way to carry them collectively,” Mukherjee said approximately the seems that theinternet site creates to help customers buy extraordinary items.
A patron can buy an entire appearance or just the pick out items he desires on the premise of theappearance.
The organisation is likewise bullish that the common cart length of men’s segment would be 15-20%large compared to the ladies’s segment. It, but, declined to disclose the basket size of the ladies’ssegment.
The Gurgaon-based totally company raised $30 million in a chain C spherical by means of traders along with Tiger global, Matrix partners and Lightspeed venture partners remaining 12 months. universal, theemployer has raised near $50 million to this point. It become set up through Mukherjee, Prashant Malik, Manish Saksena and Ankush Mehra.
Limeroad declined to speak about the range of orders it generates on a monthly foundation.
remaining 12 months, the organisation also entered the home decor segment. presently, it receiveseighty% of its enterprise from clothing whilst add-ons and home decor make up 10% every.
E-commerce income in India are expected to grow from $14 billion in 2015 to $fifty five billion in 2018, in line with a report in December 2015 by advertising research company eMarketer.