Merabo Labs, which runs grocery-focused social commerce unicorn DealShare announces that it has ventured into the private label business and targets an investment of up to Rs 500 crore (around $60 million) in the sector over the next 2-3 years to scale up its private brands across the country.
The Jaipur-based startup intends to log 30 per cent 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. Over the period of two years, it plans to extend its portfolio across skin and hair care as well as beauty and apparel categories.
Founded in 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora and Rajat Shikhar, DealShare offers products which includes grocery, essentials and home care products.
The compnay has an inventory-led platform that manages the supply chain and logistics in bigger cities. It operates in more than 150 cities and claims to have buyers to over 2 crore with its hyperlocal e-retail business model.
This year, after raising almost $130 million as a part of Series E funding round from Tiger Global Management, Alpha Wave Global and others, DealShare has joined the coveted unicorn club.
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