Increff, the India-based data technology venture in the fashion and lifestyle segment, has finalised partnership deals with two of the UAE’s big brands in fashion and logistics – Namshi and Aramex, a top company executive said.
The deal will enable the two UAE companies to gain access to Increff’s multichannel smart fulfilment platform ‘Assure’, which helps companies automate processes, improve manpower efficiency and reduce operational costs by 20-25 percent by limiting dependency on skilled labour.
The tie-up with Namshi and Aramex will be the second major partnership deal for Increff – it already has a tie-up with the Landmark Group – and is part of a major expansion move being planned by the Indian venture in the Middle East and North Africa (MENA) region.
“We are talking to many more e-commerce ventures and marketplaces, retail companies, as well as third party logistics (3PL) operators (in the MENA region),” Anshuman Agarwal, co-founder of Increff, told Arabian Business.
“We know the Middle East is an expanding market for organised retailing and our solutions are built to scale with the growing demand. Based on the value addition we bring in our tie-up with two Middle Eastern giants Namshi and Aramex, we see a huge demand and fitment of our products there,” Agarwal added.
Anshuman Agarwal, co-founder of Increff.
“We have already done the groundwork and we can get rolling with our office set up within two weeks. We are looking to enter the UAE market with an office in Dubai for now and will keep expanding to other locations as the need grows,” Agarwal said.
He also revealed the company’s plans for roping in financial-cum-strategic investors from the region to help it to expand fast in the region.
“We are looking at strategic investors who can not only give us funding but have a stronghold in the market and can help us expand.
“If we have such an investor in the Middle Eastern market, we will be open to the idea of raising funds,” he said.
Sector experts said the timing of Increff’s expansion plans in the GCC and the wider Middle East market is significant as some of the countries in the region are currently on the cusp of an exponential growth in both e-commerce and retail market segments.
According to recent data by RSA global, the value of the e-commerce market in the UAE is expected to reach $8.2 billion by 2025, while overall retail sales – offline and online – in the country is projected to expand by 13 percent to $58bn by the end of 2021.
Fashion and beauty are expected to contribute to the major part of this segment.
According to recent data by RSA global, the value of the e-commerce market in the UAE is expected to reach $8.2 billion by 2025.
Agarwal said the company’s targetable addressable market (TAM) is not just online retailing but offline retail as well for fashion and lifestyle brands.
“We are putting very dedicated efforts into marketing and sales outreach (in the region). We have also done a lot of partnerships to help us expand our outreach. We are participating in many events – physical and virtual – and creating reference customers who can help us connect to other prospective ones in the Middle East,” he said.
Agarwal said Increff’s technology platform Assure – a web-based cloud-hosted warehouse management system (WMS) and order management system (OMS) offering end-to-end warehousing solutions – allows brands to track individual pieces of inventory through serialisation, using unique piece bar-coding (UPB) and expose 100 percent stock across all sales channels, simultaneously.
Increff, founded in August 2016 by three former Myntra executives, Rajul Jain, Nirmal Jain, and Anshuman Agarwal, and Romil Jain, who was previously with DevFactory and Computer Associates, currently empowers over 100 brands across India, which includes leading fashion and lifestyle brands such as Adidas, Reebok, Tommy, Calvin Klein, Levis, Pepe and Wincanton.
Headquartered in Bengaluru, billed as the tech capital of India, Increff employs a team of over 120 employees.
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