, an e-commerce marketplace for ethnic fashion, has launched its third in-house women ethnic wear brand Anuswara. With the commencement of the new clothing line, Craftsvilla intends to develop a separate category for stylish contemporary ethnic fashion for women. Previous two in-house brands, Avanya and Jharoka were launched last year.
"We are expecting 25-30 per cent sales from the launch of Anuswara. The new range will enable us to garner higher margins as well as high valuations in the long term. We have seen an increase in demand for contemporary ethnic wear on our portal, and realised that it is an opportunity," Manoj Gupta, co-founder, Craftsvilla told a leading daily.
All the three brands of the company are focused towards fulfilling the demands in various segments. The company aims to increase the share of ethnic food and home décor segments to 25 per cent and expects ethnic fashion to contribute 50 per cent to its sales. The ethnic store is funded by venture capital funds including Sequoia Capital, Nexus Venture Partners, Lightspeed Venture Partners, Global Founders Capital and Apoletto.