29Dec 2017

Dukanline acquires Mystore – NewIndianExpress

Digital commerce player and retail aggregator Dukanline has acquired Mystore, a rural supermarket chain, as it aims to strengthen its offline presence and expand customer base. Dukanline provides e-commerce platform for retailers, distributes products acting as bridge between FMCG firms, electronics companies and retailers.

“We have been helping under-served and un-served retailers to grow and scale up, using technology. We also supply them with products and finance. It’s a win-win proposition for all the stakeholders in the ecosystem.

Till now, we have more than 21,000 retailers in India and 28,200 retailers in Indonesia,” Krishna Lakamsani, chairman of Dukanline told Express. He added that the acquisition of Mystore, a supermarket chain with about 120 stores focusing on rural areas in Andhra Pradesh and Telangana, is in tune with their strategy and will give them a huge advantage in expanding further.

Dukanline registers 2.31 million transactions a month and had an annual turnover of Rs 315 crore in FY17, while Mystore claims to clock Rs 70 crore annual turnover. Dukanline also provides finance for retailers through its own non-finance company Finvesco Capital.