Paytm Mall partners with Apple to be an authorized seller for iPhone, iPads and more
Paytm Mall, the e-commerce subsidiary of One97 communications which owns Paytm, inked a partnership with Apple.
Apple productslisted on the e-commerce website will have an authorized tag.
- This will offer consumers a fair and better price, believes Paytm Mall.
Meanwhile, Apple will list Paytm Mall as an authorized reseller for its products in India. So, an independent seller too will have to get authorization from Apple, before listing itself on Paytm Mall.
“Paytm Mall is one of India’s leading seller of premium mobile phones, and adding Apple’s range will further strengthen our list of offering to our customers. Our customers will also be eligible to avail offers such as additional discounts on select credit cards and cashbacks. All the latest Apple products will be available on our platform and will come with a valid standard Apple warranty,” said Srinivas Mothey, Sr. Vice President at Paytm Mall.
Paytm Mall has been upping its ante in the heavily competitive e-commerce ecosystem of the country. Given the craze for Apple products in India, this partnership could work in its favour.
Paytm Mall is the e-commerce subsidiary of One97 communications which owns Paytm. It is aiming to turn profitable in the next two years.
The company said that it reduced its monthly spends by ₹400 million, is targeting an EBITDA breakeven by 2021-22. EBIDTA is earnings before interest, depreciation, tax and amortization.
The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022.
Popular on BI
- Nifty, Sensex witness volatility, IT stocks under pressure
- Pro-Khalistani protests held outside Indian diplomatic missions in Canada
- Indian NGOs registered under FCRA will have to give details of foreign funds now
- The 100-bagger stocks that survived the test of time and market cycles over 20 years
- Looking to travel abroad? 5 tips to help you save on airfare