Grofers IPO: Company looks to acquire tech products, expand to fresh meat segment
"We also looking at acquiring more local space in towns and cities and ramped up our partnership with local store partners," CEO and co-founder Albinder Dhindsa said.
January 15, 2021 / 09:55 AM IST
Albinder Dhindsa, Co-founder and CEO, Grofers
Online grocery platform Grofers is looking to acquire e-commerce products in the tech space ahead of its planned initial public offering (IPO) in late 2021.
Co-founder and company CEO Albinder Dhindsa told Mint, Grofers is "evaluating e-commerce-specific technology products to build more efficient supply chains."
The aim is to "enhance intangible benefits to customers" he added.
Further commenting on how the company has boosted business, Dhindsa said Grofers added 5,000 stores in 2020 taking the total partners 12,000. It added 10,000 square feet of warehousing space which helped put their express delivery timeline to two hours. It also collaborated with local partners for deliveries.
Sales volume for the company grew 80 percent in 2020 and it is now present in 38 cities. Dhindsa also pointed out that the company opened 23 new facilities in 2020, despite the lockdowns and "made significant investments to meet demand for essentials."
“We also looking at acquiring more local space in towns and cities and ramped up our partnership with local store partners," he added.
Verticals wise, Grofers is looking to expand into the fresh meat segment and focus on daily fresh-use categories such as milk, bread and vegetables.
“Our focus will remain on our customers. In 2021, we will work towards making products more affordable for customers and look at making their shopping experience better," said Dhindsa.