Shopclues, the horizon e-commerce player focused largely on the tier 2 & 3 locations, is eyeing operational profitability by the second quarter of 2017 along with sustaining a 3x growth in its topline. The e-commerce player which reported a loss of Rs 101.4 crore for FY15 on a sales of Rs 79.2 crore believes that it is an achievable target. Talking to FE, Shopclues CEO Sanjay Sethi said, “There is no silver bullet but there are several pellets to reach this target.”
Shopclues, which follows an inventory less model, last raised an estimated funding of $100-120 million in January this year at a valuation of $1.1 billion and Sethi remarked, “Very little has been raised and burnt.”
The key investors in Shopclues are Tiger Global, GIC and Nexus Ventures. Sethi said the three levers available with them to achieve profitability are: increasing revenue, reducing the variable cost and managing the fixed costs.