Magicpin, a brand discovery and savings platform, said on Thursday it added more than 150 fashion brands and 10,000 stores on its platform in the last 12 months.
Fashion contributes as much as 25 per cent of Magicpin’s total revenue. The company claims that Puma, Titan World, Wildcraft, United Colors of Benetton, and Levi’s are among the major brands that joined the platform in the last 12 months. Magicpin (branded as magicpin) aims to add another 10,000 fashion stores by the end of 2023.
“We’re the single largest hyperlocal fashion retail platform and have been experiencing steady 10 per cent month-on-month growth in terms of scale,” said Anshoo Sharma, chief executive officer and co-founder of Magicpin.
“Going further we will double down our presence and tie up with 10,000 more fashion stores by the end of this calendar year as customers’ seek value-for-money fashion options from popular international and national brands,” he said.
Magicpin uses geo-tagging to study trends in a particular location to give targeted recommendations and style options to customers.
The Gurugram-based company is on the Open Network for Digital Commerce (ONDC)—a government-backed non-profit company set up by the Department for Promotion of Industry and Internal Trade (DPIIT) )—to offer cheaper food items than online delivery leaders Swiggy and Zomato.
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“On the ONDC network, we’ve grown 100x month-on-month making it more than 3 lakhs orders per month. magicpin is also the largest restaurant aggregator on the ONDC network, with over 22,000+ restaurants already onboarded,” Sharma told 'Business Standard' earlier.
