Grofers changed its name to Blinkit on Monday because its CEO promised to accelerate the delivery of everything from groceries to electronics in emerging markets dominated by Wal-Mart’s Flipkart and Amazon’s local division.
CEO Albinder Dhindsa told Reuters that the SoftBank-backed company has so far mainly focused on grocery delivery. It has more than 100 cooperative stores or warehouses in eight cities. These stores or warehouses can provide shoppers with 10 minutes Delivery service.
“We see this will be the future of business,” Dhindsa said. “Our goal is to have nearly 1,000 (partner) merchants by the middle of next year. We also plan to expand to 100 cities by March,” he added. Engineering graduates Dhindsa and Saurabh Kumar founded Grofers as an online grocery store at the end of 2013. Its expansion into the wider Indian e-commerce field puts it directly against powerful competitors such as Flipkart, Amazon, and tycoon billionaire Mu Mukesh Ambani’s Reliance is a retail drive in a market where Ernst & Young expects an average annual growth of 27%. By 2024, it will reach 99 billion U.S. dollars (approximately 750.11 billion rupees).
Dhindsa said the company currently has 2,000 employees and will hire more engineers. “We will increase the number of people as much as possible based on business needs. We have hired 700 people in the past 4 months and we hope to expand very, very aggressively.”
Another 20,000 people work indirectly for the company as delivery workers and partners. Dhindsa added that Blinkit’s supporters include investment company Tiger Global and local food delivery company Zomato, and are currently evaluating their capital requirements, but are not in a hurry to raise funds soon.
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