RattanIndia Enterprises-led Cocoblu Retail starts selling on Amazon India Ecommerce platform; Stock climbs 5%

25 Feb 2022 , 12:55 PM

RattanIndia Enterprises Limited (REL) announced on Thursday that its 100% owned subsidiary, Cocoblu Retail Limited has started sales on the Amazon India platform from February 24, 2022, and revenue generation has started in the company. Cocoblu Retail seeks to be a dominant seller on E-commerce retail platforms and has partnered with several brands in multiple categories to scale up its product offerings.

At around 1.00 pm, RattanIndia Enterprises Limited was trading at Rs928.60 per share up Rs43.40 or 4.90% on the BSE.

Cocoblu Retail has invested heavily in technology and has developed cutting-edge retail systems with deep integrations with existing e-commerce platforms in record time. This enables the company to utilize the full potential of the online retail ecosystem in the country.

Cocoblu Retail with its digital first approach is focused on online retail on E-commerce platforms in India. This provides a great opportunity to scale up its retail offerings in India without the complexities and capex of physical retail. Technology is a key driver for the company to garner data driven consumer insights, automate inventory management and enable a smart lean mean supply chain to drive its growth.

Cocoblu Retail is fully geared to provide a wide selection of high-quality products to customers at consistently low prices with unparalleled convenience. E-retail is a key driver of our economy with sales of Rs2.8 lac crore in FY21. The sector is growing at an annualized rate of 25-30% and is estimated to reach sales of approximately Rs9 lac crore by FY26. (As per report by Bain & Company). India is home to second largest internet enabled population and third largest E-commerce consumer base in the country with e-commerce penetration of less than 5%, leaving tremendous headroom for growth in the sector.