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How comfortably funded are you? You need to have deep pockets to cut through the clutter, build a brand, and ensure financial viability too.
We are currently backed by a pool of well-known investors in the industry and are funded well enough to scale up the company comfortably. Apart from that, since we make a profit on every order, therefore, financially it becomes much easier for us to sustain and growdespite such tough competition from the bigger players in the market.
How have you worked out your supply chain? What is the process that helps you zero in on the right vendors?
We are a true marketplace and don't hold any inventory of our own. All we need to set in the entire supply chain is to set up a proper process and keep a check on it for a smooth execution and timely delivery of the product. Once an order is placed, we look out for the product in a store which is nearest to the customer's delivery location and then signal it to that brand store and our delivery partner. The brand store keeps the product ready which is then picked up by the delivery partner and delivered to the customer. This setup helps us to offer the fastest delivery possible and optimise on our supply chain and operations. Reaching out to the right vendors is dependent on a lot of things. The most important of that being the brand's capability of streaming live inventory to us (so that we show only the items which are available in the brand store). Secondly, we need to fill category gaps on the website, so if tomorrow we see that there aren't many items in "sling bags" then we can put our focus on onboarding brands which have a good collection of sling bags.
Where do you see yourself by December 2017?
Our goal for the next 12 months is to onboard as many brands as possible and plug in the store data from all current brands onboard as well. This will help us have an intense product range to choose from. By December 2017, we see having onboard more than 750+ brands and fetching data from around 50,000 stores around India. We see ourself acquiring a significant chunk of market share in the e-commerce industry and retaining more strongly the position of nation's largest store powered e-commerce portal.
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