Moneycontrol
Last Updated : Sep 11, 2015 07:58 AM IST | Source: CNBC-TV18

Godrej Nature's Basket bets big on ecommerce

Premium food retailer Godrej Nature's Basket is betting big on the e-commerce space. It plans to make a splash in the online gourmet food retail segment by offering delivery services to customers across the country, reports CNBC-TV18's Priya Sheth.

Premium food retailer Godrej Nature's Basket is betting big on the e-commerce space. It plans to make a splash in the online gourmet food retail segment by offering delivery services to customers across the country, reports CNBC-TV18's Priya Sheth.

It's a retail chain that promises to bring the best of global food and groceries to India. And as the grocery retail war shifts online, Godrej Natures' Basket has taken the digital plunge. The gourmet food specialist, which operates 33 physical stores in five cities, is now working towards an asset light model to take the next leap of growth. The company plans to grow its online business 10 times by the end of this fiscal year.

Says Tanya Dubash, ED and Chief Brand Officer, Godrej: "We are betting big on the online space. Today, we are the first omni-channel food retailer to have a national footprint. From the five cities that we operate today, we will be get our unique food offerings in 125 cities, which would include metros, major state capitals, tier 1 and tier 2 cities. We will be able to offer 10,000 unique products to over 3000 pincodes in India."

Mohit Khattar, MD, Godrej Natures Basket, says the company sees a growing role of ecommerce in overall business.

"A couple of years ago when we started it was contributing a very miniscule percentage. This has changed dramatically over the last couple of months. We are doing 5 percent of our overall business through online and apps. We see this scaling over the next couple of months to further. Our plan for next fiscal is to grow online business 10x and are pretty much on course for that," he says.

Despite having its own online platform, Godrej Nature's Basket will continue to sell food products on marketplaces like Amazon and Snapdeal. But unlike other online grocery e-tailers, Nature's Basket says it will stay away from price wars as it seeks to focus on premium offerings.

Online growth, however, won't come at the cost of brick and mortar expansion.

The company says it will not slow down physical store launches as it looks to maintain a compounded growth rate of 36 to 40 percent per annum.
First Published on Sep 10, 2015 10:28 pm
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