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International Ethnic to contribute 20% Of Craftsvilla’s sales by 2017

Tags: Craftsvilla, online marketplace, fund, Nexus Venture Partners, Lightspeed Venture Partners, GFC,

June 18, 2015 | COMMENTS ( 0 )

International Ethnic to contribute 20% Of Craftsvilla’s sales by 2017

Ethnic products eTailer, craftsvilla.com has announced that international ethnic to contribute 20 per cent of craftsvilla’s sales by 2017.

The official release stated that craftsvilla is celebrating world ethnic day on 19th June. True to form, the company is looking at embracing “ethnic”, all over the world.

Craftsvilla recently launched services in Singapore and Malaysia; as of June 2015.

The other geographies on the anvil are Thailand, Indonesia, Philippines, Latin America, Argentina and Brazil.

"We plan to enter these countries and sell their local ethnic products to the local customers," Manoj Gupta said. "We believe that there is potential to target at least a fifth of our sales from international business.”

Craftsvilla.com works on an inventory less model and its marketplace has over 15,000 sellers. Founded in 2011 by husband-wife duo Manoj and Monica Gupta, Craftsvilla.com e-tails products across categories, including clothing, handicrafts, jewellery and arts. Craftsvilla.com holds US-based Etsy, which created a successful P2P marketplace for handmade products, as a role model worthy of emulation. The company is funded by globally renowned venture capital funds including Sequoia Capital, Nexus Venture Partners, Lightspeed Venture Partners and GFC.

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