LimeRoad doubles revenue, triples losses

Indian online fashion retailer LimeRoad more than doubled its revenue in the year ended March 31, but its losses more than tripled, according to a filing with the Registrar of Companies (ROC).

Net losses at the Gurgaon-based fashion retailer increased 227 per cent year-on-year to Rs106.32 crore (US$15.6 million) for the 12 months, from Rs32.54 crore the previous year.

Sales grew 173 per cent to Rs42.6 crore from Rs15.61 crore.

 

LimeRoad’s expenses jumped three-fold from Rs48.15 crore to Rs148.9 crore largely because of investments in marketing and technology.

AM Marketplaces, which owns LimeRoad, was founded in 2012 as a fashion discovery portal with backing from Tiger Global Management, Lightspeed Venture Partners and Matrix Partners India. It has raised about $50 million in three rounds of funding.

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