Meesho proposes branded items biz, eyes model makeover
By Team Startupcity | Tuesday, 22 March 2022, 03:44 Hrs
Social commerce platform Meesho, mainly recognized for promoting unbranded merchandise, is seeking to enter the branded merchandise class, because it expands its direct-to-consumer (D2C) e-commerce enterprise.
In line with sources acquainted with the corporate, about 80% of Meesho’s customers and 65% of transacting customers are from its direct promoting enterprise.
Now, it’s seeking to seize a bigger pockets Share by going after “reasonably priced manufacturers” in classes like magnificence and electronics, sources conscious of the matter said.
The class is being known as Meesho Manufacturers and the corporate has already began hiring folks for the enterprise by skilled networking web site LinkedIn to determine model companions to scale the enterprise.
The SoftBank-backed startup had largely caught to promoting longtail unbranded classes like attire, jewelry, footwear and electronics. As per a report final 12 months that the platform, which had been largely depending on ladies resellers, would promote to clients straight.
Meesho’s try to promote branded items comes at a time when it’s attempting to tackle greater rivals like Flipkart and Amazon India.
Potential reasonably priced manufacturers may be electronics company Boat, or footwear agency Relaxo, the place there’s a diploma of purchaser consciousness and belief, in keeping with folks conscious of Meesho’s considering.
A job posting on LinkedIn confirmed that the function requires figuring out “potential model partnerships and onboard these manufacturers as customers on the platform.”
The Bengaluru-based firm has additionally started work on rebranding its brand and shifting away from pink to enchantment to male customers, sources conscious of Meesho’s plans said.
That is additionally a try to draw males to Meesho, which has been recognized for ladies’s attire until now, folks briefed on the matter mentioned.
A supply conscious of the matter mentioned that the corporate had already benchmarked sure colors.
“They’re unlikely to go along with blue, yellow, orange, or inexperienced since it’s already related to different corporations like Flipkart, Amazon, Swiggy and Dunzo,” the supply mentioned.
In the meantime, the Meta-backed agency mentioned final week that it had entered into sponsorship offers with a number of Indian Premier League (IPL) groups and with Star Sports activities to promote throughout the IPL season beginning later this month. That is additionally seen as a try by the corporate to achieve out to male customers.
Meesho’s plan to have extra manufacturers on its platform in addition to widen its viewers comes at a time when the corporate has been in discussion with a number of buyers for a brand new funding spherical. It has, nonetheless, but to finalise the small print of the spherical.
Meesho final raised $570 million in a spherical led by Constancy and B Capital in September final 12 months at a valuation of $4.9 billion.