A.M. Marketplaces Private Limited which owns and operates Limeroad, the social discovery eCommerce platform for women, has reported its latest revenue figures. The company earned revenue of Rs. 15.6 crores in FY 14-15 compared to Rs. 2.6 crores in FY 13-14. However, the company’s losses more than doubled to Rs. 32.5 crore from Rs. 14.3 crore in the previous fiscal.
The revenue from operations grew from Rs. 1.8 crores in FY 14 to Rs. 9.3 crores in FY 15. This (60% of total revenue) is comprised of ‘Commission Income’ (55%), ‘Shipping Charges’ (3%) and ‘Collection Charges’ (1%). Other Income (Income from Interest on Bank Deposits) contributed 40% to the total revenue at Rs. 6.3 crores.
The expenses stood at Rs. 48 crores. The biggest expense was the Advertisement and Sales Promotion expense at Rs. 18.2 crores, 38% of the total expenses. The following is a breakup of the expenses.
Limeroad is a unique eCommerce platform that allows its users (women) to create and share different looks apart from shopping on the website as well. Ankush Mehra, Suchi Mukherjee and Prashant Malik, the founders came up with this unique proposition for women through a ‘social ecommerce platform’, where they can create a unique look, from a range of products available on the app, on a virtual scrapbook and share and sell the look as well. The range includes clothing, accessories, footwear, bags and home and décor products from various brands and SME vendors.
The company has raised a total of Rs. 298 crores (~$50 million) in three rounds of funding from Tiger Global, Lightspeed Venture and Matrix Partners.
Although not a direct competitor, Jabong and Myntra are key players among lifestyle e-tailers in India. Roposo and Zivame can be considered among direct competition of Limeroad. Limeroad has approached fashion e-commerce with a novel approach. With consumers facing a problem of plenty, for every such platform, engaging their users is the key and Limeroad seems to be doing that well.
Disclaimer: This is a guest post. The statements, opinions and data contained in these publications are solely those of the individual authors and contributors and not of iamwire and the editor(s).