This is the season for Indian startups to expand their wings and test international waters. After Zomato became the first Indian startup to have operations in several other countries, (22 at last count) and Oyo and Practo followed suit, now Indian ethnic products and handicrafts website Craftsvilla to extend its services overseas.
The website, which boasts of close to 3.5 million unique products from more than 25,000 artisans and designers across the country, had seen demand from other countries. Responding to these demands, and also cashing in on a favourable foreign exchange rate, the company’s kick-starting its expansion plans beginning with the Middle East, Australia and New Zealand. The website will offer a curated list of products beginning at $20.
“There are Indian citizens in Australia who have a high demand for products like the spiritual vessel bowl Urli, among the other home products, and furnishing products like quilts and pillow covers sell well.”, Craftsvilla Founder and CEO Manoj Gupta told ET.
Indian products, especially silks and silver jewelry, have usually been coveted in the west. The audience for Indian products abroad is mainly NRIs. Many international brands have their manufacturing units in India, and the designs sometimes borrow heavily from Indian motifs and influences. FabIndia is another Indian ethnic products brand that has a significance presence internationally.
Craftsvilla had raised $34 in funding in November last year, and had acquired many homegrown startups like Place of origin and Sendd to expand its merchandise and boost operations. With the international expansion, Craftsvilla, who aims to touch Rs 100 crore in revenue in 2016-17, can capture an ever bigger share of the international ecommerce market.