Merabo Labs Pvt. Ltd , which runs grocery-focused social commerce unicorn DealShare, on Wednesday said it has entered into the private label business and targets an investment of up to Rs 500 crore (around $60 million) in the space over the next 2-3 years to scale up its private brands.
The Jaipur-based startup aims to log 30% of revenue from its new initiative, which has seen roll out of 52 product categories under Chemko (home cleaning) Swaccha (personal hygiene), Sampoorti (Pantry staples) and X One (Male grooming brands), in the first phase. In another two years, it plans to extend its portfolio across skin and hair care aS well as beauty and apparel categories, the company said in a statement.
Founded in 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar, DealShare offers grocery, essentials and home care products.
The platform has an inventory-led platform that manages the supply chain and logistics in bigger cities. It operates in over 150 cities and claims to have catered to over 2 crore customers with its hyperlocal e-retail business model.
“At DealShare, we have been working towards decoding the needs of India’s mass market customers and our venture into private brands business is a solution to their growing need to have access to high-quality affordable products. While this segment is extremely crowded with big players, however, the mass market customer is still left with limited choices and is predominantly under-serviced,” said Rao.
“…the launch of our own brands will help us increase our customer wallet share significantly. This vision and growth will only be possible with the right team and expertise in the field. We have on-boarded senior professionals from the FMCG industry to drive this initiative..,” said Medda.
DealShare has joined the coveted unicorn club early this year after raising almost $130 million as a part of its Series E funding round from Tiger Global Management, Alpha Wave Global and others.
In an exclusive interaction with VCCircle in April, DealShare’s Medda had said that the company will sharpen its focus on acquiring smaller brands, and small- and medium-sized enterprises (SMEs) among others to fuel its growth in the coming year.
