Fynd launches Uniket its direct to retail solution; Establishes a base in 350 cities across 6500+ stores
October 16, 2019
Fynd has launched Uniket, a unique direct-to-retail solution, which enables shopkeepers in Tier-2 and Tier-3 cities to grow their business by getting direct access to the brand’s inventory and the flexibility to buy anytime, anywhere and in any configuration they like.
With core USPs of “Directly from Brands”, “Original Bill” and “Assured Returns”, Uniket is poised to make the shopkeeper grow and stand true to its tag line - “आपकी बढ़ती दुकान” (your progressing store). Uniket also enables a shopkeeper to buy in single pieces rather than buying complete sets from a typical wholesale market.
Through Uniket, Fynd also provides the shopkeepers with their own free website and app with selling capability of over 50,000+ styles from 50+ brands. Shopkeepers no longer need to worry about customers leaving their shop dissatisfied due to a lack of choices in their favorite brands. By downloading the Uniket store app, shopkeepers can now keep a minimal inventory and that too of all the brands that are of high demand in their shop and also offer delivery of these branded and quality stock to their customers’ doorstep.
Almost 90% of India's $700 billion retail market is happening offline. Uniket wants to empower these shopkeepers through its technology solutions and help them offer the services at par with the organized retailers in large malls. Through this, Uniket also aims to drive additional store sales besides enhancing customer experience significantly.
Commenting on Uniket, Harsh Shah, Co-founder at Fynd said, “Brick and mortar stores still significantly dominate sales globally. By partnering with Uniket, shopkeepers can further grow their business and drive a wave of modernization by embracing technology. Uniket store app offers up to 45% margin on bulk orders and 15% commission on customer orders. Through Fynd Store, we are already able to help organized retail stores in metro cities get extra visibility and drive sales. With Uniket, our aim is to tap the unorganized retail market, support shopkeepers and offer seamless shopping experience to customers across the country.”
Uniket has on-boarded 6,500+ stores and has established its presence in 350+ cities across 24 states across India. In over 1,700 pin codes of India, Uniket has more than one shopkeeper using its buying platform. In the next 6 months, Uniket plans to target 60,000+ stores in 800+ cities, covering all states of the country.
Uniket is a direct-to-retail solution from Fynd launched to increase brand penetration and visibility in unorganized retail and provide better supply to the shopkeeper. Founded by Farooq Adam, Harsh Shah, and Sreeraman MG, Fynd is an omnichannel platform which with its unique B2C, B2B and B2B2C solutions helping brands optimize their sales across online and offline channels. Through the Fynd app, it helps customers buy fresh fashion directly from the brand stores, whereas through Fynd Store it helps brands save the in-store loss of sales due to unavailability of the right size or color. Fynd also offers OpenAPI as a solution which helps a brand have their own custom website or get listed on any of the marketplaces and start selling on them. Uniket, the latest addition to the product suite helps a brand with additional penetration in unorganized retail in Tier-2 and Tier-3 cities.