Own brand of pulses, atta on 1K Kirana Bazaar's mind
Staples are the largest category 1K Kirana Bazaar is looking at because that's where brand affinity is very low; the target market is going to be non-urban and smaller towns
Hyperlocal omni-channel grocery chain 1K Kirana Bazaar has set its sights on creating its own brand of attas, pulses and spices, joining the likes of Reliance Retail, BigBasket and Grofers who are all trying to carve a slice for themselves in the $600 billion grocery market largely dominated by giants like ITC and HUL.
"Private labels are the largest profit pools. Every retailer will be looking at creating their own private label. You just need to be picky about the category where you want to do that," said CEO and co-founder Kumar Sangeetesh.
India's biggest company Reliance Industries has already been stocking up the shelves of Reliance Retail with its own less expensive private grocery labels alongside more popular brands. Online grocery leader BigBasket has a large portfolio of private brands. Rival Grofers has at least eight of its own brands, while e-commerce giants Amazon and Flipkart also have their own private brands. Between them, they sell an array of products ranging from packaged milk to snack items to instant food and essentials.
Set up in 2018, the chain has tied up with more than 100 small stores on commission basis. They are involved in the product assortment mix, inventory and technological enablement. An app is used to engage with customers, but actual sales happen at the physical store.
Their target is to reach 1,000 stores by September 2022. They have raised a total sum of $1.5 million (around Rs 11 crore) so far.
Hyperlocal omni-channel grocery chain 1K Kirana Bazaar has set its sights on creating its own brand of attas, pulses and spices, joining the likes of Reliance Retail, BigBasket and Grofers who are all trying to carve a slice for themselves in the $600 billion grocery market largely dominated by giants like ITC and HUL.
"Private labels are the largest profit pools. Every retailer will be looking at creating their own private label. You just need to be picky about the category where you want to do that," said CEO and co-founder Kumar Sangeetesh.
India's biggest company Reliance Industries has already been stocking up the shelves of Reliance Retail with its own less expensive private grocery labels alongside more popular brands. Online grocery leader BigBasket has a large portfolio of private brands. Rival Grofers has at least eight of its own brands, while e-commerce giants Amazon and Flipkart also have their own private brands. Between them, they sell an array of products ranging from packaged milk to snack items to instant food and essentials.
Set up in 2018, the chain has tied up with more than 100 small stores on commission basis. They are involved in the product assortment mix, inventory and technological enablement. An app is used to engage with customers, but actual sales happen at the physical store.
Their target is to reach 1,000 stores by September 2022. They have raised a total sum of $1.5 million (around Rs 11 crore) so far.