Strategy of growth
Today we are standing at an exciting point in our growth. We are 25 years young. 25 the perfect age where we are ready to leap into the opportunities of the futurewith the experience of the past to support our newer initiatives.
The emergence of aggregation
It's been an exciting year. The world has experienced more change in the last 10 yearsthan it has in the last entire century. If 10 years ago anyone had predicted that theaverage person would do his or her shopping on a phone that prediction would have beenmet with disbelief. But we are in 2018 and the reality has hit.
Companies like Uber Airbnb Zomato among others have changed the way people shop anduse services by creating tech based platforms where buyers and sellers can come together.What these companies are doing in the people transport travel food and other industriesRepro is doing in the publishing industry. And all this is possible because of thee-commerce revolution.
There are about 148 million people shopping online in India alone
The e-commerce boom
India is one of the world's fastest growing e-commerce market places. Millions ofinternet users are being added continously all of them shopping using the inexpensivemobile connections they now have access to. As of today there are about 148 millionpeople shopping online in India alone with rapid growth projected that will see anadditional 210 million users shopping online by 2020. In 2015 e-commerce in India throughthe mobile amounted to $7.78 billion. By 2020 this figure is expected to reach $63.53billion. When one co-relates this figure to books the potential is mind boggling. Withbooks accounting for 15% of the overall e-retail trade one can see the potential of themarket.
Books account for 15% of the overall e-retail trade.
This is creating an enormous opportunity for Repro
The market for books in India will touch $12 billion by 2020. Repro has taken the leadin the online book sales revolution in India to explode this growing opportunity.
Giving publishers a tech platform
In this environment publishers that have not digitised to reach their customersonline are being left behind. At Repro this is where we have seen our opportunity wherewe are disrupting the traditional publishing industry and creating a new normal.
A strategy gaining traction
Over the last year our strategy of aggregating books and making them available to morereaders has gained traction and the results reflect this change and focus. We aggregatepublishers' books in our digital warehouses and make them available to readers online.
Continuing a strategy of growth
We have continued our aggressive growth strategy of aggregating more and more titlesand tying up with more and more online channels. We have invested in relationships withleading online retailers like Amazon Flipkart and other key players. As a part ofIngram's Global Connect Program we offer customers access to millions of internationaltitles in India.
We aggregate books on an online platform so that more readers can access morebooks
We have also put into place strategies for reaching all stakeholders in the publishingvalue chain. We reach school books directly to students by aggregating and archivingprescribed books on digital storefronts. To achieve these objectives we have invested ina state-of-the-art manufacturing facility that has been custom built for the e-tailbusiness. The facility based in Bhiwandi prints and delivers even a single book to acustomer who can place the order online.
Strengthening current businesses
In terms of our traditional print businesses our focus on value added services for MNCcustomers leading to predictability of business and better realisations.
In Africa too a similar strategy is followed in a now reviving market. Our existingrelationships with publishers in more than 27 African countries is ensuring that ourbusiness in Africa is picking up as the economy revives. The cost rationalisation strategythat we had put into place last year has borne fruit and we have achieved significantefficiencies due to the right product mix.
Being Future Ready
We are set to harness technology to greater effect and build newer platforms toincrease business opportunities and explore new models of growth. The future looks veryexciting. In conclusion e-commerce is changing our lives; Aggregators like Uber Airbnband others are growing rapidly; the book market is exploding; online sales and e-retailgiants like Amazon Flipkart etc. are changing the paradigm and Repro is seizing thebooming online opportunity by creating disruptive solutions for its customers.
I take this opportunity to thank all of you and also congratulate you all on thismilestone moment. I look forward to your continued support in the years to come.