Quikr Bazaar to open 25 offline stores this year
today Jun 18, 2019
Quikr India Pvt. Ltd is looking to strengthen its offline presence by opening as many as 25 Quikr Bazaar stores by end of this year.
The company recently opened its fourth Quikr Bazaar Store in Palvancha, Telangana. The stores will house and sell refurbished products across all categories.
Sarath Chandra Gudlavalleti, vice-president, Quikr Bazaar in a statement said, "There is a huge demand for quality tested new, Unboxed and refurbished products across India and some customers still prefer to 'touch and feel' the product before buying."
"With the launch of these QuikrBazaar Stores, we will be able to reach markets where customers don’t have access to these products and bridge the gap between aspirations and affordability in Tier I, II & III cities of India," he added.
Quikr had earlier acquired online pre-owned goods seller Zefo for around Rs 200 crore ($28.6 million) to boost its offline vertical. The company is hoping strong sales from its offline stores during the fiscal.
It had reported revenue of Rs 173 crore in FY18 and trimmed its losses to Rs 233 crore from Rs 324 crore it had posted the previous fiscal.
Quikr Bazaar Stores are currently present across cities like Mancherial, Nalgonda and Nizamabad (all in Telangana), and Belgaum and Mysore in Karnataka.