Online retailer UrbanClap will scale operations through its core beauty and home businesses, The Economic Times reported. It will also expand market presence in the UAE, Australia and Singapore, and improve services via extended skilling programmes.
The beauty and home businesses contribute 40 percent of UrbanClap’s revenues and will be scaled up via home service luxury salons (orders averaging Rs 2,000). The target is to revenues above Rs 250 crore for FY20, UrbanClap co-founder Abhiraj Bhal told ET.
The non-core wedding and photography services will be shut, he added.
Moneycontrol could not independently verify the story.
For its market expansion, the start-up is eyeing growth across 30 cities in the country and globally in the UAE, Australia and Singapore. Bhal added that the market size of these three international markets combined was equivalent to India.
The company will closely manage and monitor the quality of its supply and build a marketplace which provides suppliers facilities such as credit, training, procurement, technology and insurance, Bhal told the paper.
He added that the start-up would undertake a large scale skilling infrastructure programme across categories over the next four to five years.
UrbanClap has also partnered with the National Skill Development Corporation (NSDC) and signed a memorandum of understanding (MoU) with the Ministry of Housing and Urban Development for external skill development.
The move towards wide skilling is significant as investors have noted that India’s services sector requires up-skilling and training to be successful. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.