Udaan focuses on staple items to fuel growth
E-commerce platform Udaan is centring in on its staples business as the segment has witnessed strong sales and doubled business over the second half of 2022, especially in the December quarter.
The business reported quarter-on-quarter growth of 45% in its staples business in the third quarter of the 2023 financial year which ended in December, Udaan’s business head of staples Arvind Chari told ET Retail. The business-to-business platform shipped over 1.5 lakh tonnes of staple products during the past quarter.
Udaan was founded in 2016 and is designed to simplify the wholesale trade process by offering a range of products across various categories such as fashion, electronics, home and kitchen, and personal care. The business focuses on facilitating swift and secure transactions between its customers and also offers logistics and financing services.
The business’ goal is to disrupt the Indian wholesale market and enable small businesses in the country to expand their operations and distribution networks. In November last year, the business laud off over 1,000 employees as part of its drive to focus on profitability. The business also plans to launch an initial public offering in the future.
Copyright © 2023 FashionNetwork.com All rights reserved.