Aiming to capitalise on the growth opportunities presented by the hyperlocal market segment, hyperlocal merchant discovery and privileges platform Crown-it has laid down its financial targets. The Gurgaon-based company is on its path to drive its monthly Gross Merchandise Value (GMV) to the tune of $25 million by March 2016. With a core focus on the tier-1 market, Crown-it is also looking at achieving an annual GMV of $1.2 billion by 2018.
Speaking on the targets, Sameer Grover, Founder and CEO Crown-it, commented, “Since our inception, we have grown leaps and bounds in terms of our monthly GMV. We had a GMV run rate of INR 12 lakh in the first three months of our operations, which has increased to $3 million monthly GMV at present. With our targets defined, we are eagerly looking forward to capitalise on the boom in the 020 market and establish ourselves as industry leaders in the segment.”
Crown-it, is currently operational in seven cities including Delhi-NCR and Mumbai, and drives a monthly GMV of $3 million at present. It is well on its path to achieve its target of a $300 million GMV annual run rate by March 2015. The organisation’s primary focus is on food and beverage category, which forms almost 95% of its current business, but strong emphasis is being laid on other categories like health and travel now.