SoftBank-backed Grofers is aiming to earn $2.5 billion in revenue by 2020 as it scales up its private label offerings in India and focuses on expanding repeat purchases in its platform.
Recently, Grofers has completed five years of its operations. The company at present has a revenue run rate of $360 million.
Albinder Dhindsa, Co-Founder and CEO, Grofers, said, "Grofers has been witnessing over 30 per cent month-on-month growth. While we do not sell gourmet products that usually offer higher margins, we have been able to create a set of dedicated customers that usually promote our brand as well. We will continue to ramp up our business and we aim to clock USD 2.5 billion revenue by 2020."
"There are a number of local manufacturers, who have great products but can't compete with the FMCG giants and therefore, their products often don't find shelf space in retail stores, we continue to grow the number of manufacturers that we work with," he added.