Arzooo’s Success Story: They Quit Flipkart in 2017 to Set Up E-commerce Platform
In the ever-evolving world of e-commerce, success stories often emerge from individuals who dare to think differently and challenge the norms. One such remarkable tale is that of Khushnud Khan and Rishi Raj Rathore, who left their positions at Flipkart in 2017 to embark on an entrepreneurial journey, ultimately giving birth to their e-commerce platform, Arzooo. Today, Arzooo is valued at Rs 3,000 crore with an impressive revenue of Rs 300 crore. Let’s delve into the fascinating story of Arzooo and explore how it has transformed the offline retail landscape in India.
The world of e-commerce has been rapidly expanding, with consumers increasingly turning to online platforms for their shopping needs. However, Khushnud Khan and Rishi Raj Rathore recognized that certain high involvement purchase categories still drew customers to physical stores. They identified an opportunity to empower these offline electronic stores by bridging the gap between the online and offline retail experience. This realization led to the creation of Arzooo in 2018.
2. Recognizing the Importance of Physical Stores
During their tenure at Flipkart, Khan and Rathore gained invaluable insights into the retail landscape. They witnessed firsthand the significance of physical stores for customers when it came to certain product categories. High involvement purchases, such as consumer electronics, often necessitate a hands-on experience before making a decision. Arzooo aimed to leverage this understanding and enhance the offline retail experience.
3. Arzooo’s Success Story: The Birth of Arzooo
Founded in 2018, Arzooo emerged as a platform that empowered offline electronic stores by providing them with a wide selection of consumer products comparable to online platforms. It not only expanded their inventory but also granted access to competitive prices, enabling them to drive up in-store sales conversions. Arzooo’s mission was to eliminate the limitations faced by physical retail, offering customers a convenient and enriching shopping experience.
4. Khushnud Khan: An E-commerce and Consumer Electronics Specialist
Khushnud Khan, an ex-Associate Director at Flipkart, brought extensive experience in the e-commerce and consumer electronics sectors to Arzooo. His prior role involved setting up and launching Flipkart’s large appliances categories, solidifying his expertise in the industry. Additionally, Khan had served as the Head of Marketing and Sales at Datawind Limited, where he played a pivotal role in launching the Akash Tablet at an affordable price of $35. This rich experience contributed significantly to Arzooo’s strategic partnerships with brands and the retail community.
5. Arzooo’s Success Story: Empowering Partner Stores
Arzooo enabled partner stores to overcome the limitations of physical retail. By leveraging their platform, these stores could offer customers a vast inventory selection, competitive prices, and swift delivery without the need to stock up on every product. This allowed smaller retailers to compete with larger e-commerce players while preserving their distinct advantage of providing a personalized in-store experience.
6. Arzooo’s Success Story: Funding and Growth
Arzooo’s Success Story: In June 2022, Arzooo raised a remarkable $70 million in a new financing round. This substantial investment is a testament to the confidence investors have in Arzooo’s vision and its potential to revolutionize the retail landscape. With the infusion of funds, Arzooo is set to further enhance its technology infrastructure, expand its partner network, and extend its reach to more customers across India.
Arzooo’s Success Story: Khushnud Khan and Rishi Raj Rathore’s decision to leave Flipkart and establish Arzooo in 2017 has yielded remarkable results. Arzooo has successfully empowered offline electronic stores, enabling them to compete effectively with online platforms. By bridging the gap between physical and online retail, Arzooo has transformed the shopping experience for consumers and created new opportunities for retailers across India.