Binny Bansal, the co-founder of Flipkart, has launched a new venture, Opptra, to help consumer brands scale in Asia.
Opptra is building a portfolio of franchising businesses, which have expertise in local markets, and taking them to different Asian countries, the firm said in a statement on March 12.
Moneycontrol was the first to report in August 2023 that Bansal was firming up a new venture that will help brands scale globally. The move came shortly after he sold his remaining stake in Flipkart, making a full exit.
Bansal, who netted about $1-$1.5 billion from his Flipkart shareholding, was looking to incubate a startup in the cross-border e-commerce space that would provide design, product and manpower support to Indian and global e-commerce companies, Moneycontrol wrote.
“Many consumer brands have the potential to scale globally, but navigating new markets is tough—cultural, infrastructural, and regulatory differences make it complex, especially in a rapidly evolving retail landscape,” Bansal, Opptra founder and chairman, said.
Each franchising business will collaborate with brands as a master franchisee or licensing partner and will be fully invested in their success.
Unlike conventional distribution partners that prioritise brick-and-mortar channels, they will leverage their advanced ecommerce expertise to accelerate market entry.
Asia is a key market, as it drives 70 percent of global consumer growth and the rapid rise of ecommerce has lowered barriers to expansion in the region. This gives brands reduced entry costs, broader consumer reach, and the agility to test and learn faster than in physical retail.
Each business will balance online and offline channels to align with local consumer behavior and category dynamics, the firm said.
“Opptra unlocks Asia for brands by combining deep market expertise, cutting-edge tech, and a powerful supply chain. But Asia is just the start — our longer term vision is to take brands from anywhere to everywhere around the world,” Bansal said.
Moneycontrol also reported that Bansal would not hold an executive position in the company and likely hire a CEO to run day-to-day operations.
So far, Opptra has recruited several top industry executives including Ranjit Babu, a retail veteran who has held senior positions at Nokia, Apple and Amazon India. He is now Opptra CEO of electronics and general merchandise. Technology is being led by Giridhar Yasa, formerly at Lendingkart and Flipkart, and Anand Raj leads supply chain, having previously worked at Flipkart and Swiggy.
Puneet Khanna, who is the vice president and head of Exporio GCC, brings experience from the Apparel Group. Meanwhile, Rahul Gupta, formerly of Amazon and Upscalio, has joined as vice president and head of Terraspan.
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