Also launches third fulfillment center in MumbaiLatestOne.com announced the launch of a managed marketplace. LatesteOne.com has delivered more than one million orders and currently processes an average of 3,500 B2C orders per day on an inventory based model.
LatestOne.com has expanded its business model to a managed marketplace and will now list products from over 500 mobile and tech accessories vendors, gradually over the next 3 months. With this initiative, LatestOne.com plans to increase the size of the catalogue from 10,000 to 30,000 unique products. LatestOne.com has so far operated only on an inventory-led model, but there has been a growing demand from several vendors to convert it into a marketplace so that they can sell their products on this platform. To control the quality of products sold on the platform, the company has developed a hybrid model and converted it into a managed marketplace. This initiative will enhance speed to market and allow the customers to access the newly launched products quicker.
The majority of these vendors are based in Mumbai. To ensure the delivery commitments are met from the managed marketplace, LatestOne.com also announced the opening of its third fulfillment center in Mumbai. LatestOne.com is simultaneously commencing the operations of the Mumbai Fulfillment Center and launching the managed marketplace.
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