Exclusively.In, a members-only niche flash sales site for fashion, jewelry and home decor from Indian artisans and designers, has raised $16 million in new funding led by Tiger Global Management, with participation from Accel Partners India and Helion Venture Partners. This brings the company’s total funding to $18.6 million.
As we’ve written in the past, the site features high-end traditional Indian apparel as well as scarves, jewelry, handbags, crafts, paintings, photography and other home goods made by Indian designers. And Exclusively.in also recently launched travel and wedding verticals.
As part of its expansion strategy, Exclusively.In is also announcing its official launch into the U.K. market, one of the largest consumer markets for Indian fashion outside of India. The site plans to to roll out additional markets as well, including Canada and India in the coming months.
Although the site caters to the Indian diaspora currently but it will be interesting if Exclusively.In will be able to appeal to a broader audience. The company’s co-founder and CEO Sunjay Guleria tells us that site has experienced strong demand from a broad base of consumers, not just the Indian diaspora, as “Indian-infused” fashion and decorations go mainstream. And Exclusively.In is growing at a 50 percent month-on-month rate already just in the US.
Eventually, Guleria says that Exclusively.in will be a hybrid e-commerce site, offering both flash sales and regularly prices items in permanent collections. And the site is hoping to add curates sales and an editorial component (a strategy that both Gilt and One Kings Lane are pursuing as well).
Exclusively.In plans to used the funding for new market expansion, optimization of its merchandising mix, further growth of its userbase, and for hiring.