New Delhi, Jun 29 (PTI) SOCH Group on Monday said it will roll out an omni-channel retail platform ‘This or That’ (TOT) in the next two months that will allow startup brands sell goods across various categories.
The company will operate on an inventory-led model, and will operate both online and offline stores.
“We will launch ‘This or That’ in the next two months and have started onboarding brands. In the first phase, we intend to launch with over 250 start-up brands registered under Startup India,” TOT Founder Director Rohit Mohan Pugalia told PTI.
These brands will be across five categories – fashion and lifestyle, food and beverages, beauty and wellness, furnishing and decor, and sports and nutrition.
Pugalia said no firm with over Rs 100 crore in annual turnover and more than 10 years’ experience will be allowed on the platform.
“Operating an inventory-based model as opposed to the usual marketplace will help us ensure that only genuine products with strict quality control are sold to consumers…we are looking at about 500 orders a day,” he said.
Pugalia explained that the company intends to bring about a significant change in the way e-commerce is looked at. The platform will encourage customers to order product samples for free and give the option of bargaining on certain products on certain days among other features.
“We will also nurture potential start-ups and help them reach new avenues by way of providing them with an exclusive platform, solving problems of brand visibility and helping them reach a broader audience for business growth though provision of support services like marketing and branding, accounting, and funding,” he said.
Pugalia noted that the number of startups in the country have increased seven-fold over the last decade, and they are bringing in innovative solutions and products.
“Many of these smaller brands cannot compete with the larger brands because of smaller marketing budgets, and the products may not find prominent shelf space. By providing a dedicated platform to startups, we want them to help them grow their business,” he said.
The physical retail store will be set up post the first phase in Mumbai, he added.
SOCH Group was founded in 2015 and entered the healthy snacking business a year later with ‘Munchilicious’ brand.
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