Emami eyes profitability from e-commerce store by next fiscal
Home grown FMCG firm Emami Ltd is eyeing profitability from its newly launched e-commerce store by the next financial year.
Emami said that since the launch of its e-commerce platform it has seen good sales with almost ten lakh (1 million) customers visiting the portal. The company is betting on its exclusive range of products to further drive sales in the coming quarters.
“As we all know that the future lies in e-commerce and everyone has to invest behind this new channel or this new distribution network, so we have also taken up the launch, we have built a very solid team behind this e-commerce. I think going forward in the next three to four quarters it should be profitable,” Emami director, Mohan Goenka, was quoted as saying by the Economic Times.
“In the September quarter, Emami’s overall revenue from e-commerce including from marketplaces have tripled. We still see a lot of headroom particularly in e-commerce because we are still at just 2.2 percent of our sales in e-commerce whereas others are at 5 percent to 6 percent, so with the new team and tie-ups, we think it can further go up to about 3 percent and then to 4 percent,” Goenka added.
Emami Ltd had reported a consolidated net profit of Rs 118 crore ($16 million) in the quarter to September 2020 with revenue of Rs 743 crore.
Emami Limited is one of the leading personal and healthcare businesses in India, with a portfolio of over 300 products.
Copyright © 2021 FashionNetwork.com All rights reserved.