LatestOne is the new kid on the block for tech accessories

HYDERABAD: A year and half after acquiring Deals15.com, Hyderabad based Palred Technologies Ltd has relaunched the venture under subsidiary Palred Online Technologies. Rebranded as LatestOne.com with an investment of Rs 20 crore from the parent company, the tech accessory e-tailer became operational in August 2014.

Following an inventory based online commerce model, LatestOne.com sells its private label PTron brand of accessories for mobile, laptop, cables and TV. “We manufacture 75% of the PTron products under contract in China and are currently looking for vendors and sourcing in India,” said Palem Srikanth Reddy, group chairman of Palred Technologies, a listed entity.

LatestOne will set up a 15,000 square feet warehouse at an investment of Rs 1.5 crore in Delhi-NCR region within the next three months to serve the catchment area in North. The company will also utilise a subsequent tranch of Rs 10 crore from the parent company for expansion. “Currently we process 200 orders a day and serve 1.5 lakh pincodes in the country,” said Ameen Khwaja, CEO of LatestOne.com which has achieved operational breakeven.

With a three day delivery period for shipment, the e-tailer relies on third party logistics players for delivery and will consider setting up warehousing facility in Mumbai and Pune to shorten delivery timelines in the future.