Ahead Of IPO - Snapdeal Goes Omni-Channel To Target 'Bharat'
CEOinsights Team, 0
Snapdeal's brands was launched an year ago and will partner with existing or aspiring retailers for an asset light so as to rollout under which the company will help retailers procure goods of its power brands through its very own sellers. Snapdeal runs a range of 11 power brands across famous categories like apparel, fashion accessories, footwear, home and kitchen, health and wellness and personal grooming. These brands are
designed to administer and value needs of customers who want to pay primarily for the features and functionality instead of brand premium.
Snapdeal has also hired former Chief Operating Officer of Iconic Fashion, Priyaranjan Kumar to take forward this initiative. The stores are supposed to also act as onground outposts for Snapdeal from where users can collect, return and exchange the merchandise they have bought online.
Despite online retail in India is growing rapidly it still accounts for less than 10 percent of India's retail. Omni-channel approach in India facilitate the e-tailers to look after the consumers who are still exploring online channels but conventionally do all the purchases offline. These are customers with hybrid habits who will take a while to get comfortable with online platforms.
Many online firms such as Nykaa, Lenskart and FirstCry run omni channel businesses and have multiple retail outlets spread across the country. However, Snapdeal would be the first online company to do so especially for small towns instead of metro cities. Money control outlined that one of the existing investors of Snapdeal was finding a secondary transaction for a partial exit from the company which could be valued at $30-50 million. Bank of America, Axis Bank and JM Financial are assisting Snapdeal for the IPO which counts investors like Softbank Nexus, Ali baba, eBay, and Blackrock.
Snapdeal has also hired former Chief Operating Officer of Iconic Fashion, Priyaranjan Kumar to take forward this initiative. The stores are supposed to also act as onground outposts for Snapdeal from where users can collect, return and exchange the merchandise they have bought online.
Despite online retail in India is growing rapidly it still accounts for less than 10 percent of India's retail. Omni-channel approach in India facilitate the e-tailers to look after the consumers who are still exploring online channels but conventionally do all the purchases offline. These are customers with hybrid habits who will take a while to get comfortable with online platforms.
Many online firms such as Nykaa, Lenskart and FirstCry run omni channel businesses and have multiple retail outlets spread across the country. However, Snapdeal would be the first online company to do so especially for small towns instead of metro cities. Money control outlined that one of the existing investors of Snapdeal was finding a secondary transaction for a partial exit from the company which could be valued at $30-50 million. Bank of America, Axis Bank and JM Financial are assisting Snapdeal for the IPO which counts investors like Softbank Nexus, Ali baba, eBay, and Blackrock.