Snapdeal, one of the larger players in the Indian e-commerce space has launched the Sports & Hobbies Category. The company sells a wide range of goods across various categories such as watches, fashion, mobiles, electronics, jewellery etc.
The launch of this category will further increase the assortment on the platform and offer a wide range of sports products and fitness equipments across brands. The category currently features products across Cricket, Tennis, Squash, Badminton, Football, Basketball, and fitness accessories among others. The focus is to bridge the gap between the demand and supply for this category, given the offline market is highly fragmented and unorganized to a large extent.
Launched in February 2010, Snapdeal lists over 60,000 products over 200 categories and stocks goods of over 500 national, international and regional brands and retailers. The company has over 15 million registered users as of February 2012 and sells over 25000 units per day, shipping goods to over 4000 cities in India. The company is owned by Jasper Infotech and has over 1,200 employees.
Snapdeal’s recent acquisition of eSportsbuy.com in April 2012 has helped the company develop a strong supply-side network of a wide range of goods of this category.
Speaking on the acquisition of eSportsBuy, Kunal Bahl, CEO of Snapdeal, had said, “Indian sports goods market is slated to become a $2.7 billion industry by 2014, and given that the offline market for this sector is highly fragmented and unorganized, it is a great opportunity for an e-commerce player such as Snapdeal, to bridge the gap in demand and supply. Through this acquisition, we will be able to provide a wide assortment at great prices to Snapdeal’s 15 million members.”
The company competes with a large number of players in the sports etailing category, including original manufacturer Vinex (VinexShop.com), niche players such as SportsBazaar.In, Playmore.In, Sportnest.Com, Decathlon.In, PlaygroundOnline.com, as well as multi-category players such as Jabong etc.
Snapdeal was founded by Kunal Bahl and Rohit Bansal in 2010 and had revenues of over Rs.80 Crores in FY 2011-12. Earlier in 2010, Snapdeal had acquired Bangalore-based group buying site, Grabbon.com for an undisclosed amount and had raised over $52 million in 2011 in 2 separate deals from Bessemer Venture Partners, along with Nexus Venture Partners and IndoUS Venture Partners. The company has earmarked over $20 million for acquisitions in the current financial year.