LatestOne.com has announced the launch of a managed market place. LatesteOne.com has delivered more than one million orders and currently processes an average of 3,500 b2c orders per day on an inventory based model.
LatestOne.com has expanded its business model to a managed market place and will now list products from over 500 mobile and tech accessories vendors, gradually over the next 3 months. With this initiative, LatestOne.com plans to increase the size of catalogue from 10,000 to 30,000 unique products. The company has so far operated only on an inventory led model, but there has been a growing demand from several vendors to convert it into a market place so they can sell their products on this platform. To ensure the quality of products sold on the platform is controlled, the company has developed a hybrid model, to convert it into a managed market place. This initiative will enhance speed to market and allow the customers to access the newly launched products quicker.
The majority of these vendors are based in Mumbai. To ensure the managed inventory operations are efficient and the delivery commitments are met from the managed market place, LatestOne.com has also announced the opening of its third fulfillment center in Mumbai. LatestOne.com is simultaneously commencing the operations of the Mumbai Fulfillment Center and launching the managed market place.
Ameen Khwaja, the Founder and CEO of LatestOne.com said, “With this initiative LatestOne.com will become the preferred one-stop online store for all mobile and tech accessories. We will add 20,000 new products to our existing catalogue and will also introduce new sub-categories. Our registered customer base is targeted to reach the 2 Million mark by the end of this quarter. Our existing & loyal customers and new visitors will reap tremendous benefits from this initiative. Our catalogue will increase 3 fold and yet we will maintain the committed delivery time of 72 hours in metros”.