Google News
spot_img

ETP Group launches two retail products, eyes ~60% topline growth per year

Must Read
Shiv Joshi
Shiv Joshi
An editor with over 20 years of experience across industry verticals and content formats from tabloids to magazines, he is the Deputy Group Managing Editor at Images Group.

Unlike its established product  ETP V5, with Ordazzle and ETP Unify, the company aims to target mid-sized businesses from the retail ecosystem

Mumbai: Singapore-based leading retail software company ETP Group launched two cutting-edge cloud-based platforms—Ordazzle and ETP Unify—in India on Wednesday. The company expects to add about 60% to 70% per year growth for the next two years just from these two new launches, chairman and chief executive officer (CEO) Naresh Ahuja said.

With the new launches, the company now has a bouquet of three offerings including its established ETP V5, which it plans to continue only till 2030. “Because we expect a change in connectivity in the next six years. With Starlink coming, there will be internet everywhere,” Ahuja told IndiaRetailing at the sidelines of the event.

While this was the India launch of Ordazzle, which is made for Internet commerce businesses, it was the global launch of ETP Unify, which is aimed at online businesses.

Ordazzle was first launched in Singapore in 2022.

“The cloud-native, AI-powered SaaS platforms are built for scale,” said Ahuja.

The two platforms offer top-of-the-line capabilities in streamlining multiple operations to ensure seamless and consistent customer experiences, thereby driving loyalty and business growth.

“With these platforms, retailers can effortlessly navigate the complexities of both physical retail and e-commerce, improve cash flow management and profitability, and deliver exceptional customer experiences that are consistent and channel-agnostic,” Ahuja added.

The enterprise-class, scalable, and secure platforms will target the $28 trillion global retail and e-commerce market, the company said. The company plans to make Ordazzle and ETP Unify a key contributor to the $3.22 billion global retail and e-commerce software market.

“With these platforms, ETP aims to target a 10 to 15% technology market share for retail and e-commerce in India,” said Ahuja. He added that with these launches the company, which used to target businesses above Rs100 crore turnover earlier, now aims to target mid-segment companies–retail businesses with five to 10 stores. “Rs 1 crore revenue online and Rs 10 crore offline revenue—is the minimum entry bar,” he informed adding that to make it affordable to such companies, with the base plan starting at about Rs50,000 a month.

ETP counts some of the biggest retailers as its clients. These include Bath&Body Works, Crocs, Marks & Spencer, Samsonite, Adidas, Titan, Converse, ITC Ltd., Michael Kors, Lacoste, Steve Madden and Charles & Keith.

More than 500 brands in 24 countries, across 10 time zones, and in more than 200 cities, run on ETP.

With Ordazzle, ETP is also looking at tapping distributors and manufacturers and not just retailers. “It is for everyone in the Internet commerce ecosystem,” Ahuja said.

Speaking about ETP Unify, Ahuja explained that the platform is built for scale. It can process 5 million orders and an equal number of invoices per day, 10 million products, and can be used by 10,000 concurrent users.

ETP, which is present in 24 countries, is looking to capture the growth opportunity that India offers. “We can have at least 20 times as much retail as we have today in India,” he said.

With 20% of its revenue coming from here, the tech major counts the subcontinent among its top three markets alongside Indonesia and Malaysia which also contribute 20% each. While 15% comes from global rollouts, the balance comes from Malaysia, China, Vietnam, the Middle East, Australia and New Zealand.

India is also where the 35-year-old company has its tech base and it has been hiring tech talent aggressively at Mumbai, Pune and Hyderabad.

Speaking about new offerings in the pipeline, Ahuja said, “One of the big focuses is on AI. We are also focusing on growing our warehouse management capability, which we may launch next year as well as the CRM part. These are two new areas. We are planning to do something quite innovative in both places,” he said adding that the products will be like Lego in the sense that one can use any part of the software independently or everything together.

More insightful and stimulating conversations on technology trends in retail are expected at the Phygital Retail Convention (PRC) 2024.

Latest News

Ace Turtle wins Images Award of Excellence at IFF 2024

The award celebrates Ace Turtle’s efforts in establishing itself as India's first fully digitally integrated retailer Bengaluru: Technology-native retail company Ace...