BW Communities

Yebhi.com Buys Stylishyou.in

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[As the online jewelry industry hits Rs 150 crore in India, more and more players are eyeing the space so much so that Assocham expects the industry to grow nearly five-fold to Rs 700 crore within the next three years. According to sources, online lifestyle store Yebhi.com recently closed the acquisition of the 10-month old fashion and accessories portal stylishyou.in for about $1-1.5 million. The amount includes the cost of stylishyou.in's data base, the cost of taking over the website's team of 10-15 people, their compensation as well as joining bonuses. stylishyou.in, founded by Shraddha Danani in August 2011, mostly deals with leading brands across all categories of jewelry and style accessories. The company also carries designer labels of bags, branded perfumes, watches etc. Sources within the company reveal that Danani has joined Yebhi.com as the Head of jewelry segment for the portal. Sources close to the deal reveal that the transaction took place in April end and since then the website www.stylishyou.in was taken off. Trying to put the domain name in the internet tool bar will only give you the following message "Site under maintenance, please try after sometime." Before the site went off line, it used to receive about 1,395 unique visitors and 13,955 page views a day, according to hypestat.com. In a conversation with Businessworld in April, Yebhi.com's founder Manmohan Agarwal had shown interest in inorganically expanding its presence in the fashion and lifestyle categories. The company, which was earlier known as Bigshoebazaar.com had been looking to acquire smaller players especially in the home and lifestyle and fashion space. Yebhi's nearly one-third of the revenues still come from footwear category and it is aggressively ramping up its presence in other fashion categories. Yebhi currently holds about 30,000 SKUs and gets about 119,538 unique visitors to its website every day. The company so far has received funding of close to $11 million from Nexus ventures partners and Catamaran in two rounds. (With inputs from Vishal Krishna)