Inspired by the digital India campaign and the Make In India concept, Shashi Kumar, founded the e-Commerce marketplace Namocart, to provide good quality branded products for best price to every nook and corner of the country, including rural and remote areas. Headquartered in Bengaluru, the company plans to strongly promote the “Make in India” concept in their own way, by promoting handmade products from the indigenous industries.
Shashi who is the Founder and Managing Director has 8+ years of experience in Offline Marketing, telecom and Sales. He has also worked as a Business Development Manager and Distributor for Hutch. He was part of key strategic team in Universal which played an important role in expanding the company across India. Having adorned many hats Kumar has a great vision and has a in depth knowledge of technology and service industry. Bharath CY who is the Director of the startup has 8+ years of experience in the IT industry. Having worked in multi-national companies and start-ups during his career, he was responsible for managing IT teams and Process in India and the UK. His operational knowledge and IT skills are an asset to the startup.
Namocart, deals in Apparels and Electronic goods will be launching around 500 brand shops in various districts along with the e-commerce platform. The Apparel sections has options for men and women clothing while the Electronics section has Mobiles along with mobile and computing accessories. The startup claims to have gained support from all over the country. They have an average daily traffic of over 1500 customers, 20,000 registered customers and have already generated a revenue of Rs. 3,00,000.
Namocart plans to grow through e-commerce and then establish Franchise model retails outlets. They are eyeing at achieving 10% market share in corporate gifting segment and being a billion dolor company by 2020. The startup is currently looking to raise funding to scale up the infrastructure, enhance the manpower and marketing campaigns for their product. They expect their revenue to raise three folds in the next four years and may even expand to foreign lands.
The startup competes with the likes of giants like Flipkart, Snapdeal, Amazon and Koovs etc. The Indian e-commerce market is growing rapidly and expected to be worth 120 Billion in the next five years. The Indian Consumers in both small towns and metros are choosing to buy online, not only for the discounts but also for the wider choice and after-sales service. Increased Internet penetration and growth in smartphone usage are also driving growth.