financetom
Retail
financetom
/
Retail
/
Grofers set for 10-minute grocery delivery in 10 cities
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Grofers set for 10-minute grocery delivery in 10 cities
Aug 17, 2021 7:28 AM

Online grocery delivery platform Grofers is looking to reduce the delivery time from 15 minutes to below 10 minutes for every customer in India.

"Today, we launched our 10th city with the promise to deliver groceries within minutes to your doorstep. While our average delivery times are still hovering around the 15 minute mark, our eventual vision is to be below 10 minutes for every customer in India," Albinder Dhindsa, co-founder and the chief executive officer said in a blog on August 17.

He added that the firm, which recently turned into a unicorn, has a goal to bring the delivery time to below 10 mins for the majority of customers within the next 45 days.

Grofers’ services are available in Delhi, Gurugram, Mumbai, Bangalore, Hyderabad, Kolkata, Jaipur, Ghaziabad, Noida and Lucknow.

Dhindsa’s blog comes days after the Competition Commission approved Zomato's proposed purchase of a 9.3 percent stake in Grofers India on August 13. Zomato, last month, said it has invested $100 million (around Rs 745 crore) for acquiring a minority stake in the grocery delivery platform as the company looks to have more exposure to the online grocery segment.

25 unicorns and counting: A look at India's billion dollar startups of 2021

The recently-listed Zomato will acquire a 9.3 percent stake in Grofers India Pvt Ltd and Hands on Trades Pvt Ltd (HoT). Grofers International Pte is the holding company of Grofers India and HoT.

The deal would bring back grocery ordering on Zomato after close to a year.

Zomato CFO Akshant Goyal had in July said, "It (grocery) is a large opportunity. Online grocery is nascent right now but is growing rapidly not just in India but across the world... We are actively experimenting in that space and recently invested USD 100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business."

(With agency inputs)

(Edited by : Kanishka Sarkar)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
In Pics | 14 major companies that filed for bankruptcy in 2020
In Pics | 14 major companies that filed for bankruptcy in 2020
Dec 24, 2020
2020 has been a brutal year for businesses, so much so that the volume of bankruptcies this year has surpassed that of 2008. From the travel and hotel space to the energy sector, businesses across industries suffered for months as the COVID-19-induced lockdown put brakes on economic activities across the world. However, retailers selling non-essential goods have been the worst-affected with many of these names emerging among the biggest bankruptcies of 2020. As per S&P Global Market Intelligence, 610 firms have filed for bankruptcies as of December 13, the highest since 2012. Retailers like J.C. Penney, Neiman Marcus, and J.Crew, car rental giant Hertz, mall operator CBL & Associates Properties are some of the names that have been listed in Fortune’s list of ‘14 of the biggest bankruptcies of 2020'. The 14 bankruptcies happen to be from the US as the valuations of liabilities remain higher than those of others. Here’s a look at these companies and their liabilities, as mentioned by Fortune:
Deal with Uday Shankar, James Murdoch a big push forward for Viacom18: Prabhudas Lilladher
Deal with Uday Shankar, James Murdoch a big push forward for Viacom18: Prabhudas Lilladher
Jan 27, 2022
Reliance Industries Limited (RIL) is doubling down on the media business with a strong push to both broadcasting as well as digital media by inducting marquee investors and launching big-ticket investments. For this purpose, RIL has roped in Uday Shankar, former Star & Disney India chairman, and James Murdoch, as strategic partners. To decode what this would mean for Viacom18, CNBC-TV18 spoke to Amnish Aggarwal, Head-Research, Prabhudas Lilladher.
Black Friday offers beacon of hope to struggling stores
Black Friday offers beacon of hope to struggling stores
Nov 27, 2020
Black Friday is still critical,” said Neil Saunders, managing director of GlobalData Retail. No retailer wants it to be tarnished. It’s still vital to get their consumers spending and get consumers into the holiday mood.”
China says looking into unfair competition on e-commerce platforms
China says looking into unfair competition on e-commerce platforms
Oct 24, 2020
China's market regulator and other government departments have launched an exercise focused on e-commerce, with plans to crack down on areas such as unfair competition and the illegal trading of counterfeits or wildlife, state news agency Xinhua said.
Copyright 2023-2025 - www.financetom.com All Rights Reserved