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Time of India
an hour ago
- Time of India
Quick commerce fuels niche D2C boom in smaller cities, Infra News, ET Infra
Advt Advt By , ET Bureau Rapid expansion of quick commerce into smaller cities and towns is fuelling demand for niche direct-to-consumer (D2C) brands in categories ranging from intimacy products and sexual wellness to curly hair care and fitness accessories, where convenience and discreet delivery are key metros have traditionally been the mainstay for these new-age brands, tier II and III cities now account for a rapidly growing share of their sales amid greater online access and faster delivery, multiple brand founders, quick commerce platforms and analysts told which sells intimacy products, gets almost a third of its revenue from non-metro regions while men's sexual health and wellness brand Bold Care derives over 40 per cent of its total revenue from tier II and III cities, company executives said."When we unpack the data, especially around product adoption in tier-III, it's evident we're tapping into a long-ignored need - one that's only beginning to surface," MyMuse cofounder Anushka Gupta told ET. "Young Indians - regardless of geography - are seeking out ways to explore their pleasure without shame," she expansion of platforms such as Zepto, Blinkit, and Swiggy Instamart has created a robust infrastructure for these specialized D2C brands to reach a broader, more diverse customer base, bypassing traditional distribution challenges."Quick commerce has largely unlocked new tier II and III markets for us, increasing discovery and ease of access for users in these markets. It has really levelled the playing field for consumers," Gupta said. MyMuse is present in over 800 to Satish Meena, adviser at ecommerce consultancy Datum Intelligence, a set of customers who previously shopped on ecommerce platforms are shifting to quick commerce for certain categories of products for instant gratification. Many consumers who haven't used ecommerce before are also trying quick commerce because of its ease and accessibility, he the potential in tier-II cities and beyond, Zepto chief business officer Devendra Meel told ET, "When we launched in Nashik, our stores hit 1,000 orders per day within six weeks, which is faster than in metro cities like Mumbai, Bengaluru, and Delhi-NCR, where it took three to four months to reach this milestone."BigBasket said it is recording about 50,000 orders per day from tier-II cities, with tier-III cities contributing around 7,000 daily Care has seen more than 100 per cent year-on-year growth in smaller cities, its cofounder and chief executive Rajat Jadhav said."Close to 60 per cent of our future investments, including marketing, education, and distribution, are focused on strengthening our presence in tier II and III cities," he said, adding that "the next 100 million health-first consumers will come from" these the beauty and personal care segment, there is a rising demand for specialised shampoos, conditioners, leave-in products, and serums for consumers with curly hair, according to Anshita Mehrotra, founder of haircare brand Fix My Curls."Although a majority of our sales still come from tier I cities, tier II regions are growing fast. Currently, our consumer base is split 70-30 between tier I and tier II cities but business from tier II cities will increase significantly this year," she snacking is another segment no longer confined to major cities. According to Abhishek Agarwal, cofounder of premium dry fruits and nuts brand Farmley, consumers across markets are now willing to spend a premium on healthier alternatives , reflecting a broader shift in eating habits. The brand recently raised $40 million in a funding round led by investment firm L Catterton.
Time of India
an hour ago
- Time of India
Fidelity marks up Lenskart valuation to $6.1 billion
A fund managed by US-based financial services major Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart to USD 6.1 billion. This is a 21 per cent increase of the company's fair value in its books compared to the USD 5 billion valuation at which it acquired the shares. According to a monthly portfolio holdings update published by Fidelity, the latest valuation for Lenskart is as of April 30. Crossover funds such as Fidelity, which invest in both publicly traded and privately held companies, periodically review the valuation of their portfolio companies. The fair value is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable peers. Gurugram-based Lenskart is considering a USD 1 billion public offering at a potential USD 10 billion valuation, double that of its last funding round, ET had reported earlier. Earlier this month, Lenskart converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. The company closed a USD 200 million secondary round last June at a USD 5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost USD 20 million in the company. Prior to this, in a March 2023 round, Lenskart had raised USD 600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, USD 450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at USD 4.5 billion. Lenskart bagged the top honour at The Economic Times Startup Awards 2024. It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43 per cent to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. The company is yet to file financial statements for fiscal year 2025 with the Registrar of Companies.
Economic Times
an hour ago
- Economic Times
Finn Allen hammers 19 sixes to surpass Gayle's T20 record in MLC 2025 season opener
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