Delhi Startup Bizpluss adds 32 suppliers from China, aims to be a $20 bn company.
Business-to-business e-commerce platform Bizpluss.in has opened doors for suppliers in China when their domestic economy is going through a tough time.
The Delhi-based startup recently added about 32 suppliers with 50 brands from China to its portal, giving them a direct entry into India’s retail ecosystem. It is also planning to expand its wings to add suppliers from the UK, UAE and European countries soon.
The company is aiming to become a $20 billion business in next three years by partnering major countries that are business hubs and allowing Indian retailers to expand.
TCL Ltd, Toshiba and G’Five are some of the companies that have come on board.
“This new venture will disrupt the long supply chain and will directly connect the retailers and suppliers between India and China for better pricing,” said Yasharth Verma, executive director of Bizpluss.
“Today with 100% production, the demand is only for 50-60% compared to 120% before. Suppliers from electronics, electrical home appliances and home furnishing are the top categories from China region. Next, we will get children products and garments from European countries,” he said.
According to Bizpluss, it is the first India B2B portal which is going overseas for channel partners to this extent. The company will also allow these suppliers to sell their end-of-life and overstocked products on their B2C refurbished portal Surpluss.in, as an added advantage of partnership.
Bizpluss plans to scale up to 100,000 retailers in the first phase. It is also working with leading financial institutions to create new payment channels.
“The biggest challenge for disrupting this chain in India was the distributor finance. We have tied up with one of the leading banks in India for the co-branded Bizpay card to get the retailers financed from the bank directly,” said Verma.