(MENAFN- Bangladesh Monitor)
Dhaka : Shwapno, one of the largest retail chains in Bangladesh, posted the biggest growth in turnover in the last financial year, driven by higher sales through its e-commerce platform and teleservice amid the coronavirus pandemic.
Turnover increased 18.7 per cent year-on-year to BDT 1,375 crore in the last financial year that ended in June. It was BDT 1,156 crore in the previous year, according to the recently published annual report of ACI Ltd, the owning company.
This was the highest growth of the retail chain since its inception in 2008.
'Our e-commerce and teleservice helped us increase turnover during this period,' said Sabbir Hasan Nasir, Executive Director of ACI Logistics, which operates Shwapno.
Its franchise expansion outside Dhaka has continued, helping it register the record sales growth whereas some competitors suffered de-growth.
Shwapno has roped in several partners to deliver groceries and other everyday essentials at the doorsteps of customers.
The superstore chain has introduced its own home delivery through teleservice for the customers who prefer direct communication with the stores rather than through online platforms. It helps it make deliveries to 11,000 customers every month, according to the directors' report of ACI Logistics.
Shwapno express outlets have kept their stellar growth, serving about 14,000 customers daily.
The e-commerce platform is growing in terms of orders and user base and makes deliveries against more than 30,000 orders each month.
The private-label brands of the chain clocked a 71.7 per cent increase in the number of products in its assortment and a 9.7 per cent year-on-year sales growth.
Through all of these initiatives, Shwapno netted record-breaking sales of BDT 151.8 crore in June last year. It made operating profit in July 2020 and in the months of May and June of 2021.
Presently, it operates through more than 200 outlets across the country, giving it a 49 per cent market share in the segment.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.