DealShare intends to invest Rs 500 crore in the private brands’ industry over the next two to three years
- ByStartupStory | November 2, 2022
DealShare, an e-commerce company, announced on Wednesday that it has introduced 52 categories under its own brand division and that it will invest Rs 500 crore in the new market over the next two to three years.
In the first phase, the company introduced 52 categories under the Chemko (home cleaning), Swaccha (personal hygiene), Sampoorti (pantry staples), and X One (male grooming brands) brands. Over the course of the following two years, the company plans to expand its portfolio to include the skin and hair care, beauty, and apparel categories.
According to the e-commerce company, it has introduced “52 categories of products with the new project slated to contribute 30% to DealShare’s revenue” and “targets an investment of Rs 500 crore over the next 2 to 3 years for private branded business.”
DealShare stated that over the next three years, it will provide private-label products to 3,000 communities with a population of more than 10,000. The organisation currently asserts that it is present in more than 150 cities spread across eight states and has more than 2 crore customers. Vineet Rao, the founder and CEO of DealShare, claimed that the company’s foray into the private brands market is a response to consumers’ increased demand for access to high-quality, reasonably priced goods.
“Despite the fact that there are many large companies in this industry, the mass market consumer still has few options and is typically underserved. We have been successful in giving local companies national visibility, and we believe that our own private brands will only add value and provide our value-based clients more options “added Rao.
DealShare will produce the goods sold under its proprietary brands in association with SMEs.According to Sourjyendu Medda, co-founder and chief commercial officer of DealShare, the company has hired senior executives from the FMCG sector to spearhead this endeavour. Hemant Sood will be in charge of it.
“Hemant is a dynamic professional with more than 23 years of experience in the consumer business. Hemant is a pillar of the brand and has led several successful ideas. We have already witnessed positive early success with our own brands’ thanks to his knowledge in recent weeks “said Medda.
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