Add shop e-retail spurts ~4% on opening 22 new franchises

3 Mar 2022 , 03:37 PM

In its filing with the exchanges, Add-shop E-Retail Ltd. has announced the opening of 22 new franchises in 2 new states, i.e., Andhra Pradesh and Tamilnadu during the last month. The company stated that it was seeing huge opportunities in the said States. It has opened 12 new franchisees in Andhra Pradesh and 10 franchises in Tamilnadu.

This will give a boost to the company’s retail business in both the states and so far, it has received a good response with its products from both the states. Company received a tremendous response for its ayurvedic healthcare products as well as agriculture products.

The company has created a strong supply chain between itself and customers/members to deliver goods to them at their doorstep. The company has a vast distribution network of over 600 franchises across India. In addition, the company is further adding new customers which offers a substantial base for marketing the company’s products. This distribution network will be a major stepping stone for the company.

Add shop was trading at Rs115.55, up by Rs4.70 or 4.24% against its previous closing price of Rs110.85.