Key Points
Avenue Supermarts, the operator of DMart retail chain, saw sales at its online grocery unit cross Rs 2000 crore in FY23 but losses widened as it expanded into newer geographies...
Sales for Avenue E-Commerce (AEL), its online subsidiary was Rs2202 crore, a 32% jump while net loss widened to Rs 194 crore, as per its latest annual report..
The online business brand, DMart Ready, had posted a loss of Rs 142 crore on sales of Rs 1667 crore in the previous fiscal year...
"Avenue Supermarts has invested about Rs 713 crore in its online subsidiary that started operations six years ago" added D'mart, Indias biggest retailer by market capitalization...
Unlike grocery startups Amazon and BigBasket, which rely on a delivery-based distribution model, DMarts online venture operates a hybrid model with delivery centres in areas where it has small stores from where customers can also pick up products they have ordered online..
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