E-commerce business CoutLoot expects to achieve a monthly revenue total of Rs 20 crore in the coming two financial quarters. The Mumbai-based business also plans to continue to expand its brick-and-mortar network across India.
“Our aim is to hit Rs 20 crore of monthly revenue in the next two quarters with sound margins and scale up from there,” CoutLoot’s co-founder Jasmeet Thind told India Retailing. “We will launch five of our local brands in each subcategory and enable 100 offline-powered CoutLoot stores in the next three quarters, thus taking the tally to about 200 stores by the end of the fiscal while crossing 40 million users on our platform.”
CoutLoot works to give retailers access to strong supply chains and has also established a bargaining system in regional languages with the aim of speeding up conversions. The business aims to turn small, unorganised stores into large, standardised CoutLoot-powered stores.
“Unbranded fashion categories are, by volume, the largest category in India and are non-standardised,” said Thind. “As far as size issues are concerned, free pricing volatility and correct supply chain are some of the main issues which create low trust.”
CoutLoot launched as a re-commerce business in 2016 and has expanded into an e-commerce retailer which focuses on boosting small and unorganised retailers to bring them into India’s digital ecosystem.
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