Bangalore, April 20, 2017: ShopX, India’s fastest growing digital offline platform that powers retailers in India, today announced its strategic tie-up with Puma, world’s leading sports brand. Puma will leverage ShopX’s unique digital offline model and federated architecture to scale up its footwear business across the tier II market in India. The tie-up will help Puma establish its presence in more than 1500 retail outlets in the tier II markets of the country.
India is one of the highest footwear consumption market in the world. However, sports footwear usage is still perceived with an aspirational outlook. Ever since its launch in 2006, Puma has successfully garnered significant market share in sports footwear category and emerged as one of the top international brands in India. Riding on the wave of growing disposable income along with increased fitness and health consciousness, sportswear market is poised for strong growth. However, tier II markets largely remain an untapped segment.
Puma will use ShopX’s flagship technology and digital offline model to reach target customers in tier II cities. ShopX has built logistics efficiency through its “LMDN” last mile delivery network. This will result in highly ROI driven retailer outreach for Puma. On the other hand, Direct Brand Partnerships through ShopX’s platform will help retailers get access to the entire range of Puma’s sports footwear category.
Commenting on this new development Mr. Amit Sharma, CEO and Co-Founder of ShopX said, “Within a short span of time, Puma has established a strong fan-base and higher aspirational value in Indian market. With its unique footwear range of international standards, Puma has been one of the most sought after aspirational footwear brand amongst Indian youth. Puma’s brand pull, popularity, wide range of products, competitive pricing along with our wide and relevant distribution base should work as catalysts in making this partnership a success.”
ShopX is backed by strategic investor Nandan Nilekani, and mentors including Jagdish Kini [ex- CEO, Airtel (South Region), Managing Director, Gillette India], and Pramod Varma [earlier: Chief Architect, UIDAI Aadhar Project, CTO Sterling Commerce]. Within a year of launch, ShopX has empowered 45,000 Retail Partners across 230 towns in 10 states; serving more than 3 million customers, making it one of the fastest growing companies in the country. The Company aims to provide the 600-million middle-income population in India (as against the current 50 million active internet buyer base) access to digital commerce through its Retailer Partners.
Bangalore-based ShopX is India’s fastest growing digital offline platform, and provides retailers across India significant benefits. ShopX’s proprietary technology, when partnered with a retailer, transforms the retailer into a technology-enabled platform that allows him to service his many customers in more engaging ways. The Retailer has access to new products, new services, and platform services (like credit, payments and loyalty). With this approach, the Company is helping to expand the overall addressable digital commerce market size significantly.