New Delhi: Fast-fashionRetailer H&MIt is likely toTake-off TrellAs a partner brand when it uses social commerce platform toReach more customers in the country Based in Bengaluru TrellThis platform focuses on social commerce and is influencer-based.
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Last month H&MGroup participated, through its investment arm in a $45million Series B round of financing led by Mirae Asset and co-led in part by LB Investments Trell.
The retailer could also use influencers as part of the investment. to sellIt is affordable fashionAccessory and accessories available on the platform
This move shows how retailers are now interested in new and emerging commerce platforms like covid-19 fast-tracks digital commerce adoption.
Homegrown short video is a sure bet app TrellPivoted is a lifestyle social commerce platform that allows content creators toUpload short-form videos in categories like beauty. fashionAmong other things, wellness, travel, health, and gadgets. Furthermore, TrellIt also allows users to toShop from it platform, which enables influencer-led selling for various brands via TrellShop. This feature was added in September 2020.
Its current shopping platform is limited to beauty and personal care brands such as Maybelline, L’Oréal, Garnier, Plum and Bombay Shaving Company, among others.
TrellPlanning is, however. toPulkit Agrawal, cofounder and CEO, stated that social commerce can be expanded into categories like apparel, home care and baby products. Trell.
“Going forward our aim will be to launch fashionSo we are going. toAdd up the categories and you will get to toInternational brands can partner with apparel companies in the space. toAgrawal stated that Indian ones.
TrellDid not disclose the timeline toWhen will it start selling clothing? fashionProducts but not said H&MPartner brands will be considered. Once H&MIt will host its inventory as a partner when it comes aboard TrellShop.
“Given our plans of launching fashionThey are a strong partner brand for apparel and we see them as such. I believe they bring tremendous value to the table in terms of bringing their own brands on board. He also said that they learned a lot about the supply chain and how to build their brands.”
Nanna Andersen, Head of H&MCO:LAB H&M Group’s Investment arm said that H&M Group sees social commerce as an “exciting” and “growing”India and globally, there is plenty of space in the retail industry. “We look forward toShe said she would be sharing more information about the future collaboration with them. H&MThere are more than 50 locations across the country. It also sells viaIt has its own ecommerce platform, as well as Flipkart’s backing fashionMyntra is an online shopping platform
Anderson stated that Anderson believes that this is a valid statement. H&MThe region’s first investment and the area of social commerce. H&MOther investments toDates cover multiple continents, and are not limited to geography.
Social commerce involves the use of a number of social media platforms and reselling applications by consumers to conduct their business. toBuy and sellBusinesses are increasingly turning to the internet to market their products. These businesses can market their products in India through Facebook-backed WhatsApp. This is Facebook, not unlike platforms like Meesho. Trell, Kiko TV, Bulbul etc. These new-age commerce channels have been fueled by the availability of cheap data and a large user base for smartphones. Bain and Co. and Sequoia India jointly reported that social commerce would rise tenfold. toFrom the $1.5-2 billion, the current $1.6-2 billion gross merchandise vale (GMV), will reach $16-20 Billion in the next five-years.
China is already ahead of the curve when it comes to this field to adoption toEY stated in a blogpost that social commerce is a combination of e-commerce, social media and e-commerce. EY stated in a note that social commerce already accounts nearly 13% for all online retail sales in the country.
The six-month period that ended 31 May 2021 was shown. H&MIndia’s net sales increased from Rs645.86 million in the previous year toAccording to its latest earnings statement, Rs836.6 crore was collected in the first six months of the year.
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