Naaptol to expand logistics, eyes Rs720 crore sales this fiscal
Naaptol is looking to expand and decentralise its fulfilment centres as it targets a revenue of Rs720 crore this financial year
Mumbai: Multi-channel home shopping company Naaptol is looking to expand and decentralise its fulfilment centres as it targets a revenue of Rs720 crore this financial year, a top company executive said.
“Our focus this year is to expand and decentralise our logistics. We opened two fulfilment centres last year, and are opening two more this year in Delhi and Hyderabad for an investment of $1 million,” Manu Agarwal, founder and chief executive of Naaptol Online Shopping, told PTI. The company’s turnover for 2016-17 stood at Rs630 crore. It is expanding its portfolio as well to offer more than 800 products, he added.
Further, Naaptol is moving towards native language programming, specially focusing on the southern market. “We are working on two key things this year. One is expanding programming capabilities, and moving towards the regional language side. We are programming close to 700 shows every month,” he said.
The company derives 80% of its revenues through commissions from 24/7 advertising. He said that regional viewership is growing significantly. “Home shopping market share is growing through TV viewership,” he said. The company is also working towards expanding alternative services like selling insurance.
Naaptol had raised Rs343 crore of equity funding from Japanese conglomerate Mitsui & Co in November 2015, for about 20% stake in the company. It is looking to raise more funds by January next year for its expansion, Agarwal added.
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