Like we have already said in the past, e-commerce is really a hot entity in India right now. Info Edge India – the founders of India’s most successful job portal Naukri.com has invested $3.5 Million (close to 15.75 Crore Indian Ruppees) in 99Labels.com – an online private fashion sales portal.
99labels specialises in event based online sales for a limited time period which includes fashion-wear, accessories, jewelry, lifestyle products, furniture and much more and prices are upto 90% off label prices. This is some thing with websites like fashionandyou.com have been already doing.
99labels plans to use these funds in order to increase the their international brand offerings and use innovative ways to create awareness amongst consumers – both online and offline. Ishita Swarup, CEO, 99Labels.com said that they are really excited about this new alliance and look forward to a productive, innovative and supportive partnership with Infoedge.