First e-tailer to be profitable on direct cost basis for 2 consecutive years
- Vertical focused e-tailer is processing 6,000 orders per day
- More than 250,000 visitors on the website per day
- Touched the milestone of 300,000 loyal customers
- One million orders from the loyal customers
Mumbai, 28th March 2018: Mobile and tech accessories e-tailer LatestOne.com, retains its position as India’s largest online retailer for mobile and tech accessories, by crossing the 5 million mark, in terms of number of orders shipped since October 2014. The site receives more than 250,000 visitors per day on an average. The customer base of LatestOne.com has crossed 3.5 Million of which 300,000 loyal customers have placed over one million orders. In the recently announced Q3 results, the company announced revenue increase of 19% on year on year compared to same period FY 16-17 while the losses have come down from 21% to 12%.
Notably, LatestOne.com is the only Indian e-tailer (owned by Indian shareholders) and the legal entity is owned/operated by a public listed company.
LatestOne.com, which started operations in late 2014, has the distinction of being the first player focused on mobile and tech accessories vertical in the country. Today, it processes more than 6,000 orders a day on an average. With the addition of 18,000 sq. ft. facility in Kurnool (A.P.), earlier this year, this is projected to increase to 10,000 orders per day for upcoming financial year.
Apart from Kurnool, LatestOne.com has a fulfillment center in New Delhi too. From these fulfillment centers, LatestOne.com shipped 39% orders to south zone, 24% to west zone, 22% to north zone, 12% to east zone and 3% orders to central zone of the country for the period April 2017 – Feb 2018. Owing to complete control of inventory through its own fulfillment centers and stringent three-level quality check, the company enjoys loyal customer base of 3 lakh customers – a commendable feat by industry standards.
Mr. Ameen Khwaja, CEO of Palred Online Technologies Pvt Ltd (LatestOne.com) said, “It is the trust of our customers, which has helped us achieve the milestone of 5 million orders. We are grateful to our loyal customers who have displayed their trust in our products. While quality comes at a cost, it need not be exorbitantly priced and unreasonably expensive – that is the core belief driving our business. We are in the business of democratizing fast tech accessories, by making high quality mobile accessories available to everyone”.
About LatestOne.com
LatestOne.com is India’s only e-tailer specializing in tech and mobile accessories such as Bluetooth speakers and headsets, mobile covers, tablet accessories, cables, power banks, headsets, smart watches, mini android TV, fashion accessories etc. It stocks over 10,000 different products in its inventory and operates through its own fulfillment centers in Delhi and Kurnool. It is owned by Palred Online Technologies Pvt. Ltd (POT) which is a subsidiary of Palred Technologies Ltd (PTL), a listed company on BSE and NSE since 2004.