SIC Code: 54110000 GROCERY STORES
Country of Origin: India |
Target Areas: Worldwide
This company is the only profitable grocery delivery business in India. With its 60 minutes delivery service, the company is the quickest option to get groceries and in late hours and early hours. It has a successful track record of six years. The service model is very similar to Farmstead and FreshDirect in the US with significant push on
• Providing complete independence to customers on a whatever you want, whenever you want, where ever you want basis.
• Use of proprietary algorithms and technology in all components of business to keep cost base low o Instant deliveries (60 minutes with a platform capability of 20 min) in high density areas
• It’s core focus & USP with a wide moat is a category with no other leader- top ups and immediate
consumption needs - where it competes only with the neighbourhood store
• It’s other USP is focus on vegetables and fruits where no other e-grocer focuses.
• Uses proprietary algorithms for product pricing to ensure healthy predictable margins of 26%
• Only player with earliest delivery slot 60 minutes from time to order, with closest competitor at 48 hours
• Only player to have 30 minutes long delivery slots (25% of nearest competitor) for better predictability of delivery for the consumer, ensuring the customer does not have to wait for a very long time
Capital required: EUR 3,500,000
1. Profitable business in a high growth segment in India
2. Proprietary AI tech platform enables replication of quick delivery model
3. Business model in an optimised position, after two pivots within online grocery for six years with own learnings and learnings from other failures in the market.
4. Strong customer loyalty for three key USPs
a. Quickest delivery
b. One hour slots
c. Free shipping after a bare minimal Rs 500 (USD 6.7)
5. The company is now set for growth phase as it takes off from 1 cluster to 105 clusters @ sales of INR 27,260 cr/ US$ 3.8 billion with EBIDTA of USD 353m (9%) by 2025.
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