The business agreement involves the transfer of the omnichannel technology division to Arvind Internet Limited (AIL), a wholly owned subsidiary of Arvind Ltd., for a total consideration of ₹152.30 crore. The entire shareholding of the company in AIL shall be transferred to BigFoot Retail Solutions Private Limited (Shiprocket) for a consideration of ₹162.90 crores.
The transaction will be carried out as a combination of stock and cash for total consideration of ₹200 crore. The combination of both entities will facilitate quick, efficient deliveries of shipments from the nearest store or warehouse, significantly reducing delivery timelines and enhancing customer experience, Arvind Ltd., said in a filing to the exchanges on Tuesday.
“Both Shiprocket and Omuni are industry leaders and integral partners in a larger D2C commerce enablement segment. The ecosystem comprises of retailers, e-commerce shopfronts, marketplaces, ERPs, point-of-sale systems, warehouse management solutions, payment solutions, and CRM solutions required for best-in-class shopping experiences for consumers," according to the filing.
“Omuni’s Saas products will allow us to unify inventory, order, catalog, content, pricing, and data across physical and digital storefronts for the best possible e-commerce experience for customers," said Saahil Goel, co-founder, and CEO, Shiprocket.
With most retailers adopting an omnichannel retail strategy to cater to consumers across digital and physical storefronts, the Shiprocket-Omuni acquisition deal will deliver a more robust and seamless post-purchase experience to customers, the companies said.
“We have built Omuni into an industry leading product used by some of the largest brands in the country. By combining our retail stack with the Shiprocket Ecosystem we will be able to make the extensive inventory of retail stores available to be sold seamlessly via Shiprocket’s logistics as a service solution," said Kulin Lalbhai, Executive director of Arvind Ltd., said
Launched in 2017, Shiprocket provides a technology stack to help retailers integrate their shopping websites on Shopify, Magenta, Woocommerce, Zoho, and others. Over 2.5 lakh plus sellers use Shiprocket’s services. The platform, which has Zomato as an investor, delivers packets to more than 70 million consumers annually.
In February Shiprocket acquired a majority stake in Glaucus Supply Chain Solutions for an undisclosed amount. Glaucus offers services such as business to business (B2B) distribution, sales return management, direct to consumer (D2C) marketplace fulfilment and managed transportation. Earlier in January, Shiprocket acquired a 75% stake in customer data platform (CDP) Wigzo Tech for an undisclosed amount.
