E-commerce start-up Pluss Digital Ventures expects three-fold growth in revenue this fiscal at Rs 80 crore driven by sale of refurbished electronic products such as mobile phones, consumer durables and unsold stock of various brands.
"In the first year, we registered sale of around Rs 27 crore, and this fiscal we expect it to be around Rs 80 crore. We are expecting to break even in 2017-18," Pluss Digital Ventures Managing Director H S Bhatia said.
"We source products from brands directly, e-commerce companies and big retailers. Those sold from brand carry warranty of the company. We are able to sell surplus inventory at about 50-60 per cent lower price which gives us edge. Now we plan to invest in technology to enhance customer experience," Bhatia said.
The company sells products through its online portal surpluss.In.
Bhatia said that an estimated Rs 1.7 lakh crore electronics market generates surplus of about 6 per cent in aging inventory and other surplus of around 4 per cent by the way of open box product, slightly damaged packagings, exports which give us opportunity to sell products of around Rs 15,000 crore.
The company at present delivers product to 18,500 pin codes and by end of this fiscal plans to reach around 24,000 pin codes.
"We are not selling cheap brands but we are selling brands cheaper which is giving us exponential growth," Bhatia said.
Pluss Digital is founded by Bhatia, S N Rai of Lava Mobile, former Channel strategies director at Samsung Amit Gupta and former Samsung India executive Ajay Goyal.
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