Us e-commerce platform Etsy has officially entered the Indian market
Etsy, a new york-based e-commerce platform for handicrafts, has launched in India with a delhi-based Indian team that aims to help local entrepreneurs sell their unique handmade wares around the world.
Indian sellers have been using Etsy since its inception, and currently provide about 650,000 items on the platform, including ethnic jewelry, traditional clothing, sunshade, fabric, bed covers and quilts.
With its latest development, the platform has planned a series of events, from online to offline, to recruit and assist new sellers, including holding seminars to introduce existing and new sellers to each other and offering free product listings to all new Indian sellers on the platform. This is similar to what amazon did when it entered the Indian market in 2013.
However, Etsy's situation is different from that of other multinationals entering India. Instead of forcing artisans to move to more "modern" jobs, Etsy will encourage them to keep trading with their families. Etsy also helps budding artists and designers build their businesses with minimal investment.
"Etsy is filled with the spirit and passion of millions of creative entrepreneurs, and we are delighted to now have a team in India to support this existing community and help more creative entrepreneurs in India share their work with the world through Etsy," said Himanshu Wardhan, general manager of Etsy India.
Etsy's annual merchandise sales total $3.25 billion
Founded in 2005, Etsy serves sellers and buyers worldwide, has about 35 million customers from around the world, and claims to connect 2 million creative entrepreneurs, 87 percent of whom are women.
The product categories on Etsy include Jewelry&Accessories, Clothing&Shoes, Home&Living, Wedding&Party, Toys&Entertainment, Art&Collectibles, Craft Supplies&Tools.
In 2015, Etsy made an initial public offering. To date, Etsy has raised nearly $100 million from multiple investors. In 2017, Etsy's annual merchandise sales totaled $3.25 billion.