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Last Updated : Nov 15, 2018 05:05 PM IST | Source: Moneycontrol.com

Bigbasket chief Hari Menon expects 75% revenue jump in FY19 to Rs 3,500 crore

As part of the partnership, Yippee ‘My range’ will be available exclusively on Bigbasket for one week, following which it will be distributed to all modern format and general trade stores across India.

The FY19 revenue of online grocery store Bigbasket could jump 75 percent on year to Rs 3,500 crore, according to Hari Menon, Co-Founder and Chief Executive Officer of the company. The FY18 top line was Rs 2,000 crore.

“We are growing significantly on the revenue side and expect it to touch Rs 3,500 crore this year (FY19). It will put us among the top 5 grocery retailers in the country,” Menon said.

Going forward, the company’s focus will be largely on new segments innovation of technology.

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He was speaking at ITC Sunfeast Yippee event held in Mumbai to launch four new variants of instant noodles—My Crazy Chow, My Madly Manchurian, My Mystery Masala and My Truly Chicken.

As part of the partnership, Yippee ‘My range’ will be available exclusively on Bigbasket for one week, following which it will be distributed to all modern format and general trade stores across India.

“Digital platforms are best platforms for a launch and it helps to get customer feedback and data,” Menon said.

Bigbasket, which already has a presence in 25 cities across the country, will be extending its presence to Kochi in a month.

The online grocery store raised $300 million from Alibaba Group earlier this year and is looking to raise more in the next few months.

Bigbasket is an Indian online grocery and food products provider, founded in 2011. Headquartered in Bengaluru, the brand is run by Innovative Retail Concepts.

Currently, the company has 10 million registered customers with 1 lakh orders per day.
First Published on Nov 15, 2018 05:05 pm
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