 "Dealshare")
B2B e-commerce firm DealShare plans to invest Rs 1,000 crore over the next five years to help its MSME partners scale up their businesses, a senior company official said on Tuesday.
The company plans to make investments mainly in six states -- Uttar Pradesh, Rajasthan, Haryana, Himachal Pradesh, Gujarat and Maharashtra.
"Not only, we provide MSME partners support in terms of order volume, but also in research and development of their product. We will invest in the inventory that MSME partners will make. This will give them the confidence to increase capacity and invest back. Rs 1,000 crore will be spent within the next five years," Dealshare founder and CO-CEO Sourjyendu Medda said.
DealShare's core e-commerce portfolio sources goods and products from more than 500 indigenous brands, accounting for nearly 70 per cent of its product offerings.
The company supplies products to grocery stores in small towns and cities.
When asked about the impact on a company's business with the masses in the mid to lower-income segment being impacted by inflation, Medda said that the problem with the mass market is not about choices but it is affordability.
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"Every time inflation goes up if their income is not growing, the mass market looks to buy less of what they want. We started working with local and regional brands and now we are adding private labels too so that we are able to increase affordability in inflationary situations," he said.
Medda said that DealShare procures directly from product makers and markets them across markets, which helps in lowering the cost of various items.
He said that the company is in the process of doubling its senior managers' team that can sit with MSME partners and help them scale up their business.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
