DealShare, a social ecommerce player, has announced a substantial investment of Rs 1000 crore in local and regional SME brands and its own Private Labels over the next 5 years.
The company is looking to invest in 6 states namely Rajasthan, Haryana, Uttar Pradesh, Himachal Pradesh, Gujarat and Maharashtra.
DealShare’s core ecommerce portfolio sources goods and products from more than 500 indigenous brands, accounting for nearly 70 per cent of its product offerings.
This investment in these local brands will provide further impetus for local production to not only build scale but be able to tap markets outside their usual geographies and find greater visibility amongst consumers, the company said in a press note.
The investment will aim to help small and medium brands find national and regional appeal, helping them manufacture high-quality, low-cost products as well as increase livelihood generation in their immediate areas.
Moreover, DealShare’s investment will also benefit its private label which sources 100 per cent of its products from MSMEs, offering a diverse range of high-quality and affordable products. The company is dedicated to filling gaps in the market and delivering value to conscientious consumers. With plans to increase the private label’s contribution to its overall business from the current 10-30 per cent by 2-3 years.
According to the press note, DealShare aims to provide consumers with a broader selection across various categories, including grocery, personal care, home care, and more. The company aims to increase its current portfolio of 8 brands in 16 different categories to encompass a wide range of product offerings.
Sourjyendu Medda, Founder and Co-CEO of Dealshare said, “DealShare has always been at the forefront of supporting the growth of MSMEs in India. Our the latest endeavor of expanding Indian private labels and local and regional manufacturing from MSMEs underscores our commitment to fostering entrepreneurship and uplifting local businesses. By synergizing our strengths with the innovative and diverse products offered by Indian private labels and local brands,we are confident that together we can create an ecosystem that empowers both entrepreneurs and
consumers.”
