VIP, a world-renowned company that specializes in offering secure, cutting-edge luggage and baggage products to its customers for over four decades has chosen BuyMore, a brand of Counfreedise Retail Services Ltd, India’s leading e-commerce aggregator for the online retail sector in India to expand their online reach. Counfreedise will help VIP in getting listed on its base of 10 e-commerce websites in the Indian marketplace and 8 websites across 12 countries around the world.
VIP will also avail the brands services of multi-portal selling, warehousing and big data analytics in order to benefit the best of the online retail environment. BuyMore will also serve as a one-stop solution provider for VIP for increasing transparency in inventory management, pricing and accounting through its comprehensive ERP solution (Enterprise Planning Software). VIP aims to take the benefit of BuyMore’s services and expand its reach to the unchartered territories through their online presence.
With this association, Counfreedise Retail Services Ltd, which already boasts of over 350 brand associations, has its eyes set on exceeding the Rs 100 crore turnover mark for the 2018-19 fiscal. It has also launched its new mobile application BuyMore Seller App which reduces vendors workload as they can manage their e-commerce business while on the go. With the help of the app, vendors can track details of the sales, payments and stock, know exactly the number of products selling online, get insights on last week’s payments and next payment date and estimate the stock value of the products selling through Buymore.
Akshath Tiwari, Ecom Manager, VIP said, “Counfreedise is the pioneer in advanced retail software solutions in India and that is why they were our preferred choice when we decided to go the online route. Our association with them will enable us to start and manage effectively our eCommerce operations and reach audience that has been out of our reach till now. VIP and Counfreedise share similar values and we look forward to sharing the benefits that our association will bring.”
Abhinandan Mahesh, Director and CEO of Counfreedise Retail Services Ltd, commented, “Today, Counfreedise is technologically robust with Artificial Intelligence (AI) being integrated with most of our eCommerce and retail software solutions. We have developed over 50 indigenous software solutions to help brands track and estimate sales, minimize returns post-purchase, automate tedious financial processes and automate and integrate most of the processes in our warehouses. All this will only bolster our tie-up with VIP and help us capitalise the best of online customer base for them.”
Sidharth Mahesh, Managing Director of Counfreedise Retail Services Ltd, states, “We are glad to associate with VIP and add it to our already existing brands’ list. This association and agreement is fuelled by our renewed confidence about our infrastructure and technologically advanced software solutions. With our BuyMore Seller product suite, we aim to provide VIP the best of retail and eCommerce solutions that will help them gain market leadership.”
Counfreedise recently also announced its transformation to a public limited firm from a private one. The company will be filing for listings at the BSE and the NSE in the coming months. The price of their shares is estimated to be at a premium 18 to 25 times the face value. It is India’s first firm to go public in its domain. The company aims to raise issues with the total market capitalisation of Rs 250 crore. The investment raised would be used in building and managing warehouses and managing state of the art software systems.