Cashify has announced its plan of launching a new e-commerce platform in India. Operating on the premise of selling refurbished gadgets, the company will make smartphones the key focus segment but will later introduce other categories like refurbed tablets, laptops and gaming consoles.
Cashify has already completed 6 years in the Re-commerce industry and is now all set to take another leap, with the launch of its E-commerce platform. The company announced the upcoming launch of its accessory brand and will be selling a range of accessories via its e-commerce platform as well as via offline kiosks starting in June 2019.
The list of refurbished smartphones brands includes Xiaomi, Apple, OnePlus, Vivo, Oppo, Samsung, and Huawei, with a 6-month warranty on the products.
While Cashify is already working on establishing the foundations of an E-commerce operation – with a distributor and retailer network in India, the firm has tasted success in selling refurbished smartphones in the offline segment of the market. That said, the online venture is going to be the brand’s big venture into the second-hand smartphone market. Cashify has established operation centers across 5 cities, Gurgaon, Mumbai, Chennai, Hyderabad and Bengaluru in India.
Apart from that, the brand has also planned to open a chain of exclusive Cashify Stores in tow with is expansion plan to cater to the growing refurbed product market in India. The first chain is lined to be opened in Faridabad. The store will be Cashify’s one-stop platform for consumers to sell their old smartphones, repair broken/damaged screens, or buy any accessory they want for their smartphones.
The firm has also planned to open 10 more exclusive stores across the country by the end of 2019. As of now, the brand has 23 offline kiosks across 5 cities in India, for customers to sell their old smartphones instantly.
Mr. Mandeep Manocha, Co-Founder & CEO, Cashify addressed the company’s plan and legacy, “In our 6 years of journey in the Indian market, we are glad that we have been able to lead the re-commerce segment and make a mark in the industry. Cashify, as a partner brand, has been able to forge strong partnerships with leading smartphone brands like Xiaomi, Vivo, Apple, OnePlus, Nokia and has delivered outstanding results. We are looking forward to making a strong presence in the re-furbished gadget market, starting off with smartphones as a category and will be adding other dimensions to it in future.”
The CEO’s optimism and operational plans seem to be aligned with the current growth of the company. Cashify is currently the biggest Re-commerce brand in India where it provides its Indian audience the means to purchase cheaper products, with a warranty, and guaranteed utility – which seems to be a plus in the otherwise unregulated industry.
The company is also an exclusive buyback partner for brands like Apple, Xiaomi, and OnePlus in India – thus, establishing its business model amongst all segments. The company has also facilitated buyback and upgrade programs for Nokia, Vivo, and Samsung in India. Currently, the brand has partnered with OnePlus for an assured buyback and upgrade program for their recently-launched OnePlus 7 series.