Grofers announces foray into FMCG segment

By: | Published: July 18, 2018 4:23 AM

Online grocery marketplace Grofers on Tuesday announced its foray into the FMCG segment with the launch of seven new brands under two categories, Budget and Popular Grofers-Brands.

This expands Grofers’ private labels to 250 food and non-food products for its consumers.

Online grocery marketplace Grofers on Tuesday announced its foray into the FMCG segment with the launch of seven new brands under two categories, Budget and Popular Grofers-Brands.

This expands Grofers’ private labels to 250 food and non-food products for its consumers.

The Gurgaon-based start-up has two G-brand categories, the Popular G-Brands category offers premium quality products under brands including ‘G Mother’s Choice’, ‘G Happy Day’ and ‘G Happy Home’, and the Budget category, with brands like ‘HaveMore’ and ‘SaveMore’ cater to price-sensitive consumers by offering entry-level quality products.

The company said their range of private label is priced at approximately 5% to 50% lower than the market price for popular brands in these categories.

Data analytics firm Kalagato, in a report, said that as of March 2017, BigBasket had 35% market share in the online grocery segment, with Grofers close behind at 31.5%, and Amazon at 31.2%. But Amazon has been pushing its groceries service, Amazon Prime Now, and infusing cash into its operations in this segment.

But Grofers has the backing of investment titans like SoftBank, Tiger Global, Sequoia Capital.

It raised a $62-million funding round led by Softbank in March this year. The brand is bullish on growth with a revenue target of Rs 2,500 crore and rolls out of more than 500 SKUs for FY19.

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