The online store is currently available to customers only in Bangalore. It will expand its presence in phases, firstly encompassing the Southern part of the country and later in all parts.
MTR Foods also announced an investment of $30 Mn (INR 200 Cr) to expand the manufacturing capacity at its plant in Bangalore to 72,000 tonne from 45,000 tonne. It will handle the distribution of products through an international courier firm Fedex.
Related Article: MTR Foods Announces $7Mn Investment Fund For Early Stage Startups
Sharma added that the investments are a part of a larger goal to clock INR 2,000 Cr turnover by 2020, from around INR 700 Cr, now.
The company reported that it is selling goods worth INR 34 lakhs through other hyperlocal delivery channels like Big Basket and Grofers, among others. However, with its own omnichannel it expects to generate higher sales going forward.
According to a 2015 Morgan Stanley report, the Indian ecommerce market to supposed to grow from $11 Bn in 2013, to $137 Bn by 2020. Various companies are trying to encash this burning opportunity to widen its reach and increase revenue.
It can be noted here that after the ban, food and beverage brand, Nestle got its Maggi noodles to the consumers through the ecommerce marketplace Snapdeal.
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