INVC NEWS
New Delhi ,
RattanIndia Enterprises Limited (REL) is pleased to announce that its 100% wholly owned subsidiary, Cocoblu Retail Limited has started sales on Amazon India platform today and revenue generation has started in the company. Cocoblu seeks to be dominant seller on E-commerce retail platforms and has partnered with several brands in multiple categories to scale up its product offerings.
Cocoblu has invested heavily in technology and has developed cutting edge retail systems with deep integrations with existing ecommerce platforms in record time. This enables the company to utilize the full potential of online retail eco-system in the country. Cocoblu Retail with its digital first approach is focused on online retail on E-commerce platforms in India. This provides a great opportunity to scale up its retail offerings in India without thecomplexities and capex of physical retail. Technology is a key driver for the company to garner data driven consumer insights, automate inventory management and enable a smart lean mean supply chain to drive its growth.
Cocoblu Retail is fully geared to provide a wide selection ofhigh-quality products to customers at consistently low prices with unparalleled convenience. E-retail is a key driver of our economy with sales of Rs. 2.8 lac crore in FY-21. The sector is growing at an annualized rate of 25-30% and is estimated to reach sales of approximately Rs. 9 lac crore by FY 2026. (As per report by Bain & Company). India is home to second largest internet enabled population and third largest E-commerce consumer base in the country with e-commerce penetration of less than 5%, leaving tremendous headroom for growth in the sector.
