Wholesalebox is a controlled marketplace in India for wholesale buying and selling. The company aims to eliminate the traders and wholesalers in between to get around 25% lower prices for the shopkeepers by procuring directly from manufacturers along with our tech-enabled curation to provide fast-selling designs. Wholesalebox helps the shopkeepers to offer good pricing to their customers and offers convenience such as Credit facilities, Volume Discounts, Home Delivery, COD, etc. So let us get into this article to read the success story of this amazing company.
Wholesalebox – Key Points
- Company Name – Wholesaleox
- Founding Year – 2015
- Founder – Rohit Dangyach, Chandan Agarwal, Rakesh Shekhawat, Madhur Maheshwari
- Headquarters – Jaipur, Rajasthan, India
- Company Type – Private
- Industry – Retail, Wholesale
- Number of Employees – 101 – 250
- Total Funding amount - $3.5 M
- Website – www.wholesalebox.in
Wholesalebox – Founders
- Rohit Dangyach – Rohit is one of the co-founders of the company. He holds a B.tech degree from IIT, Roorkee and an MBA degree from IIM, Bangalore. Rohit has extensive experience in building internet business and he has worked with various companies such as E&Y, Cardekho.com, L&T Ltd, Ocwen Financial Corp, etc.
- Chandan Agarwal – Chandan is one of the co-founders of the company but he was now resigned. He holds an MBA degree in Finance from T A Pai Management Institute, Manipal. Chandan has worked with various companies such as Bank of America Merrill Lynch, Citi, etc. and now he is a full-time product development head at Kogta Financial Ltd.
- Rakesh Shekhawat – Rakesh is another co-founder of the company who has already resigned. He holds an M.Sc in IT from Sikkim Manipal University. Rakesh is also the co-founder of Deemtech Software Pvt. Ltd. and now is a full-time consultant at Pratham Software.
- Madhur Maheshwari – Madhur is also one of the co-founders of the company. He is one of the senior-most members of the team having more than 15 years of experience in his field.
Wholesalebox – Brand Name, Logo, and Tagline
- Brand Name – The brand name of the company is appropriate for the kind of work they do. The name resonates with the business of the company and it is easier for the customer to remember as well.
- Logo – The company’s logo is in blue and red colour and also features a box as the brand name suggests. The blue colour signifies trust and responsibility and red signifies the passion of the company.
- Tagline – The company’s tagline is – Lowest Factory Price.
Wholesalebox – Business Model
Wholesalebox follows a B2B (Business to Business) model. They sell their products to shopkeepers and retailers by assuring them the best quality and the lowest price option available in the market.
The company earns directly from these retailers and shopkeepers.
Wholesalebox – USP
Wholesalebox has various USPs as a new startup. Some of the main USPs of the company are as follows:
- They assure the lowest factory price to their customers.
- Buying from Wholesalebox would save at least 25% to 35% of the procurement cost on every order.
- They have more than 343674 designs available on their website for retailers.
- The company offers various facilities like COD, easy return, volume discounts, personal buying assistance, guaranteed lower price, credit facilities, etc.
- The company helps in increasing the profit margins of the retailers.
- They already have more than 15,000 registered retailers on their website.
Wholesalebox – Funding and Investors
Wholesalebox has raised around $3.5 M in over 3 rounds. Their most recent funding was done on Aug 21, 2018, and it is funded by 4 investors including Orios Venture Partners and Contrarian Drishti Partners. Some of its funding and investors are as follows:
- $1.4 M – Seed Round, Orios Venture Partners, Nov 27, 2016
- Undisclosed amount – Venture Round, Rajasthan Venture Capital Fund, July 20, 2018
- INR 150 M – Venture Round, Orios Venture Partners, Aug 21, 2018
Wholesalebox – Competitors
Wholesalebox is one of the leading players in the market. But it still has many strong competitors in the market who are performing well on various wells. Some of the top competitors of wholesalebox are as follows:
- Loja Rovitex
- Princesse tam.tam
- Adler Modemarkte
- Unii. in
- Morrison Outdoors
Wholesalebox – Challenges
Wholesalebox has to face various challenges while running its business. There are several challenges in the entrepreneurial journey and Wholesalebox also had to face some of them. So, here are some of the challenges faced by the company.
- Hassle-free process – Making the whole process hassle-free was a tough task for the company in the beginning. They had to look after various things to provide ultimate satisfaction to their customers.
- Competitors – Wholesalebox had various competitors in the industry and it was initially difficult for the company to stand out amongst them. Some of these competitors were good and had a considerable amount of market share.
- Pandemic – The current COVID-19 pandemic has hit several sectors very badly. Many businesses had to shut down their operations and many businesses suffered a huge loss in their revenue. Wholesalebox also had to go through some rough phases during the peak COVID times and their business also saw some tough days.
Wholesalebox – Future Plans
Some of the upcoming plans of the company are as follows:
- They want to increase the number of products on their website, to give a broad option for the buyer to choose from.
- The company is looking to make the whole process, even more, hassle-free and easygoing.
- Wholesalebox is looking to hire more employees in the coming few years to make their business more hassle-free for the customers.
- They are also going to open their offices in various other cities as well.
- The company wants to increase the number of registered retailers on its platform.