Quikr says that with Zefo, it will be capable of providing a broader selection of merchandise at even greater aggressive prices along with as sturdy a focal point on best.
Quikr, which went on an acquisition spree final yr, taking over corporations in business segments it has hobbies in, has now brought Zefo, in an all-inventory deal. The transaction is reportedly well worth Rs 2 hundred crores, although this discern has not been officially showed with the aid of either party to the deal.
Zefo is into promoting refurbished products on its platform and the product categories include televisions, mobile phones, and furnishings. The addition of Zefo to Quikr’s already strong lineup will without a doubt show useful to each the startups in improving their patron base.
The idea of imparting refurbished pre-owned products is nothing new, however, in an in large part conservative market like India, it has been sluggish in take-off. Zefo, for instance, is thus far found in best 4 cities in the country. The logistics concerned in the enterprise additionally dictate a greater value-conscious technique. Picking up the antique stuff and talking to an area for sporting out the repair and refurbishing after which making the shipping all add as much as the prices and the expectancy among the consumers can be unreasonable as a way because the prices of pre-owned goods are concerned.
The modern-day fashion of on-line systems creating an offline presence is located here as nicely. Quikr has unfolded multiple stores in Karnataka and Telangana already to physically showcase its refurbished merchandise. Many clients may additionally opt to first attempt out the offline mode earlier than trusting the net manner of purchasing merchandise.
The enterprise says it plans to double the manpower engaged in areas like exceptional warranty method, logistics, advertising, and retail. These will cover nearly all of the product strains, specifically, for the furnishings, electronics & appliances and cellular classes.
Zefo had thus far raised around $20 million, Sequoia Capital being the biggest investor while Quikr has raised as a good deal as $370 million. Investors in Quikr include Tiger Global Management, Steadview Capital, Norwest Venture Partners, Warburg Pincus, and Matrix Partners.