Currently, the company claims to have an annual revenue of $40 million, or about Rs 320 crore
New Delhi: Online gifting platform IGP on Friday announced a foray into the Dubai market from where it expects to generate a revenue of $10 million, (Rs 80 crore) in the first 1.5 years, the company said on Friday.
The company claims to have an annual revenue of $40 million, or about Rs 320 crore.
“I am thrilled to announce our foray into the vibrant market of UAE. With an investment of $10 million and a dedicated team of over 100 professionals, we are set to transform gifting experiences in the region,” IGP founder Tarun Joshi said in a statement.
IGP is a global brand, our goal is to become the ultimate destination for flowers, cakes, and gifts, enriching the lives of millions in the UAE and, in the long term, across the entire Middle East,” he said.
The company has set up a warehouse of over 20,000 sq. ft. in Dubai.
Joshi said he expects to generate revenue of U$0 million in Dubai over a period of 18 months.