The online grocery player BigBasket that aims to be a billion-dollar company by the next fiscal year, is expecting 40 percent of its projected revenue to come in from its private labels.
The company is expecting to clock Rs 3,500 crore in sales this fiscal year, up from Rs 2,000 crore last year.
“Private labels are around 34 per cent of our business now and we plan to scale this to 40 per cent in about a year. The incremental 6 percentage points of revenue will come from non-fruits and vegetables and non-staples,” said BigBasket co-founder and chief executive Hari Menon.
The Bengaluru-based company is also looking to add a lot of categories to the private labels vertical.
BigBasket said that the FMCG sales overall (food and non-food) contributes over 50 per cent of its business, 30 per cent from staples (including 14.5 per cent from private labels) and 18 per cent from fruits and vegetables.
Last month, the company acquired Pune-based RainCan and the Bengaluru-based Morning Cart to deliver milk to 20,000 customers. It has already launched this service in seven cities and expects to roll out to other three cities among the top 10 metros.