The fund raised will be utilized towards enhancing the technological prowess, improving plant and machinery equipment and amplifying marketing strategies
FMCG companies are eyeing the direct to consumer (D2C) space, however, there are challenges abound as traditional companies have to navigate hurdles such as marketing costs, clear value proposition, return management, best in class customer management, to name a few
According to a Mordor Intelligence report, the total addressable D2C market in India is forecast to hit $100 billion by 2025. The opportunity is so lucrative that traditional FMCG companies such as Dabur, ITC, Marico, Wipro Consumer Care & Lighting, Parle Agro are trying their luck in the space either by acquisitions or starting their own digital first brands
The fresh fund will enable Wakefit.co to strengthen its expansion plans across categories and bolster its omnichannel presence to reach deeper pockets of the country
The startup intends to use 70% of the fresh funds to make acquisitions and the rest to fuel the growth of the brands, expand its team and enhance its brand marketing activities
The fund raised will be deployed towards the growth of in-house D2C brands, increase offline distribution, expand international operations, and make select acquisitions
The sector is increasingly growing conscious of the importance of shifting from a digital-only model to a hybrid one, composed of both online and offline stores
This acquisition will allow Emiza to leverage Shippigo's technology backend to provide a one-stop solution covering the entire product journey from warehousing to last mile delivery
We have sold more than 20 million products so far. We have a repeat percentage of up to 45 percent, which is one of the highest in the business: Pankaj Garg