According to Wikipedia, there are approximatley 2.7M NRI (non resident Indians) living throughout the United States of America. Why is this significant? Because Exclusively.in, a startup founded by the same team that sold Going to AOL has built one of the fastest growing luxury sample sale sites by focusing on a niche. The niche of this company is its focus on bringing authentic Indian merchandise to the masses. The company does not solely cater to the NRI population but has broadened its reach amidst the popularity of Eat, Pray, Love. The New York City based startup recently raised funding from Accel in a Series A round.

The success of the site so far and the funding support the admirable innovation and execution. While there are many clones in the sample sale space, Exclusively.in has been able to differentiate based on product and target demographics. I would anticipate many other approaches to the sample sale vertical that focus on niche opportunities rather than trying to compete directly with Gilt among others. Notable areas that stand out include: other imported goods, restaurants, sporting events, online applications, and more.Tweet

Tags   acquisition  funding  gilt groupe  going  nri  venture capital  yahoo