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Magicpin plans domestic, overseas expansion, hike categories
New Delhi, Oct 25 - Services aggregator and rewards platform Magicpin on Friday said it plans to expand its services both in India and abroad along with including more segments to cater to consumers.
Speaking to IANS, Magicpin Co-founder CEO Anshoo Sharma said that the platform currently has full-fledged operations across 50 Indian cities and is launching operations in another 50 cities.
He said that the company, which caters to offline retail consumers, plans to expand to 200 more towns and cities.
Following its latest launch of services in the Indonesian capital of Jakarta, the company would also look into possibilities of increasing its footprint in Indonesia along with starting operations in other countries.
"We are now live in 50 cities and we have launched the next 50 cities as well. In addition, in September we launched Jakarta, because the India market has been working great. Even that market (Indonesia) is doing very well. Our plan is to continue to go deeper in the country, from 100 to 200 cities to 500 cities," Sharma said.
"Our model is very technology oriented, we don't have to have massive physical setup when we enter a new city. As indonesia is building out we will go deeper there, but we will also explore other international markets," he added.
He further said that the company would also add more categories in its services and has recently added electronics and manufacturing brands as new categories.
"At the same time we want to add more categories. We are adding electronics as a category, we are also adding manufacturing brands. We are working with the likes of ITC and Godrej, who are manufacturing brands," he said.
The platform announced a first-of-its-kind festival sale -- 'magicpin Diwali Week' -- for offline retail, during October 19-26, across categories like fashion, electronics, grocery, beauty, fitness, among others.
Sharma said that the company plans to reach a Gross Merchandise Volume (GMV) of $1 billion on the back of the sales during the festival sale period.
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