BigBasket CEO Hari Menon also confirmed early talks for an investment in a milk delivery startup.
Online grocery retailer BigBasket will soon sell branded beauty products and fresh meat on its platform.
BigBasket’s new offerings will give competion to online cosmetics store Nykaa and gourmet meat start-up Licious and ZappFresh. The company will launch a new private label for beauty products, BigBasket co-founder and CEO Hari Menon told Mint in an interview.
BigBasket already sells some meat under its label Fresho and it wants to improve its supply chain as it sees a requirement in meat supply to hotels, restaurants and caterers.
“In meat, we already have a supply chain, but now we want to build a deeper supply chain, in terms of getting deeper into that category. That is because we see a tremendous new business opportunity that is called HORECA (acronym for hotels, restaurants and caterers),” Menon told the paper.
About 34 percent of the company’s revenue comes from its private labels. The company wants to boost revenues from its private labels, and aims to generate 45 percent of its overall sales from its labels by April 2019.
The BigBasket CEO also confirmed early talks for an investment in milk delivery startups DailyNinja and Milkbasket. The company will invest in either one of these startups.
“Milk subscription…is the other way of increasing frequency (of orders). We’ve been talking about subscription businesses for a while,” Menon told the paper.
