DealShare aims Rs 7,000 cr GMV by 2023-24, to expand footprint to 100 cities by March

E-commerce start-up DealShare on Friday said it has recorded seven times growth year-on-year in sales and aims to achieve a gross merchandise value of around Rs 7,000 crore by the financial year 2013-24.

Agencies
E-commerce start-up DealShare on Friday said it has recorded seven times growth year-on-year in sales and aims to achieve a gross merchandise value of around Rs 7,000 crore by the financial year 2013-24. Founded in September 2018, DealShare has a presence in over 20 cities and towns at present and is further planning to expand its footprint across 100 cities across the country by March.

"Our growth trajectory looks promising, as we have already recorded a seven times growth y-o-y. Our current GMV (gross merchandise value) run rate is Rs 300 crore per annum, and we expect to reach Rs 7,000 crore by the financial year 2024," DealShare co-founder, Chief Business Officer and Chief Financial Officer Sourjyendu Medda said.

The company claimed that 600 local manufacturers have grown their business 10 times in the past two years through DealShare.


"Right from Day 1, more than 70 per cent of our merchandise has been from regional brands. Today, we have more than 600 regional brands on board DealShare, selling their products through our platform," DealShare co-founder and Chief Executive Officer Vineet Rao said.

He added that for some of the brands, sales through DealShare stand at about 25-50 per cent of their overall revenue.

Currently, DealShare is partnered with close to 800 brands, of which 70 per cent are local brands.
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The company is also planning to add more than 700 indigenous brands to its portfolio by 2021, of which about 80 per cent will be micro, small and medium enterprises, the statement said.
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