~ Launches 52 categories of products with the new initiative set to contribute 30% to DealShare’s revenue ~Targets an Investment of Rs 500 Crores over the next 2 to 3 years for Private Brands business~
~Private Brands to complement and add value to existing core social commerce business ~
~ Builds a dedicated team under the leadership of industry veteran Hemant Sood to scale this business~
Bhubaneswar: DealShare, India’s leading and fastest growing social e-commerce player, is all set to penetrate deeper into the homes of its new to internet 500 Mn users target group with launch of its Own Brands’ portfolio.
This launch is an extension of the brands core philosophy of giving India’s middle and lower middle-income group access to high-quality branded essentials at prices they consider affordable for daily use. DealShare aims to consolidate the fragmented CPG consumption at the household level under the “Best Ever Value” Platform. The Private Brands by DealShare will be manufactured in collaboration with SME’s, thereby further boosting India’s “Make in India” vision to empower more micro entrepreneurs.
In the first phase, DealShare has introduced 52 categories under Chemko (home cleaning) Swaccha (personal hygiene), Sampoorti (Pantry staples) and X One (Male grooming brands). DealShare plans to extend their portfolio to the skin & hair care, beauty & apparel categories over the next 2 years.
According to IBEF, the CPG market in India is expected to grow at a CAGR of 14.9% to reach US$ 220 billion by 2025, from US$ 110 billion in 2020. However, the penetration of unbranded goods is in the high double digits in most categories. Local & Hyper-local Brands do a good job of servicing small segments of this large market with varying degrees of success.
There is no single platform that caters successfully to the needs of this underserved consumer segment. DealShare’s in-depth experience in serving middle-to-lower income group looking for high-quality, low-cost essentials for over 4 years is expected to drive the growth of this business. The aim is to create a consumer organization that provides every consumer in India with goods that are highly affordable and the best quality one can get at that price.
Sharing his views on the launch, Mr. Vineet Rao, Founder & Chief Executive Officer, DealShare, said “India is a land of opportunities with its own unique complexities, business challenges and customer nuances. At DealShare, we have been working towards decoding the needs of India’s mass market customers and our venture into private brands business is a solution to their growing need to have access to high-quality affordable products. While this segment is extremely crowded with big players, however, the mass market customer is still left with limited choices and is predominantly under-serviced. We have been successfully bringing national presence to local brands and believe that our own private brands will only add value and offer wider choices to our value based customers”
This initiative will complement the core social commerce business of DealShare that is focused on bringing local manufacturers to the forefront and providing value products to mass India. The company has till date empowered over 1000 local brands across India by offering them national presence, visibility and market share. The Private Brand products will be available on the DealShare platform as well as in traditional stores; DealShare aims at selling these products nationally, starting with Tier 2 and Tier 3 cities being the DNA and target market of organization.
“With the launch of private brands, our intent is to bring more quality options in the CPG category for the mass market customers. With our core business model which is focused on scaling local brands we have reached 20 million customers. The launch of our Own brands will help us increase our customer wallet share significantly. This vision and growth will only be possible with the right team and expertise in the field. We have on-boarded senior professionals from the FMCG industry to drive this initiative which will be led by Hemant Sood. Hemant is a dynamic professional with over 23 years of experience in the consumer business and has driven many such successful propositions as a Brand stalwart. With his expertise, we have already seen encouraging initial success for our private brands in the last few weeks.” added Mr. Sourjyendu Medda, Co-founder, Chief Commercial Officer, DealShare
DealShare Private Label brands plans to reach 3000+ towns (population >10k) in India with a disproportionate share of its business coming from the 396 cities with between 100,000 and 1 million people, and 2500 cities with between 10,000 and 100,000 people.
Currently, DealShare is present in 150+ cities across 8 states. The company has acquired more than 20 million consumers and has on-boarded 1000+ DealShare Dost further empowering over 20,000 people with job opportunities.
