Company to further intensify efforts on penetrating deeper into mass market grocery and essential retail through community building and SME direct sourcing
Mumbai, 14th December, 2022: DealShare, India’s leading social e-commerce player, today, announced the appointment of Kamaldeep Singh as President-Retail. Kamaldeep brings over 20 years of retail industry experience, and he will be spearheading retail business, building organisational scale and implementing retail best practices to enhance customer experience & further growth of the organisation.
Kamaldeep Singh had served as the CEO of Big Bazaar, where he was responsible for retail operations, organisational transformation, and business strategy execution. His deep knowledge of Indian consumer behaviour, building sourcing organisation, vast network of brands, and building talent & team fits well for DealShare’s next phase of growth to serve its unique business model focused on providing high quality products at affordable prices to middle and low income households.
The Indian retail industry has evolved over the last decade with diversified product offerings, high internet penetration and growing aspirations of the urban population, however, the larger need of ensuring high quality products for mass India remains unsolved. Increase in adoption of smartphone usage (over 800 million smartphone users) and government’s clarion call for Atma Nirbhar Bharat are clear indicators of the opportunities ahead of DealShare in the organised social commerce play. To capture a large share in this growing market, leadership strength along with sharp focus on creating defensible differentiators will play a strong role in driving the growth agenda.
Commenting on the appointment, Mr. Vineet Rao, Founder & CEO, DealShare, said “We are pleased to welcome Kamaldeep to the leadership team of DealShare. With a slew of recent top level hires to strengthen our core team over the last one year, Kamaldeep will take our leadership pool a notch higher and support our vision to be India’s largest mass market player for FMCG and grocery retail. We have been growing exponentially over the last 4 years and this growth is a testimony of the high potential of our business model in capturing a large share of mass market retail in India”
Mr. Sourjyendu Medda, Founder and co-CEO, DealShare added “I believe that having a laser focus approach on profitability will be a game changer for our industry at large. Kamaldeep’s practical and strategic approach in building one of India’s largest retail brands at Big Bazaar will be invaluable in our pursuit to build efficiencies across all domains of our business. We have cut down our monthly burn to less than 50% over the last 4 to 5 months without much impact on our scale. We will continue to focus heavily on profitable growth in future and Kamaldeep’s deep operational experience will help us speed up this journey.”
Mr. Kamaldeep Singh, President-Retail, DealShare, in his new role said “Having always been passionate about retail and making an impactful difference, DealShare’s philosophy to bring about societal change has been the key catalyst in driving me to join this purposeful organisation. DealShare with their focussed efforts in identifying the country’s need and fulfilling this mission with a disruptive social commerce model is very encouraging and poses a phenomenal opportunity to transform Indian retail. I look forward to bring my experience in building the Retail & Omni-Channel Business and realizing DealShare’s vision of e-retail for Bharat”
With the recent appointment, DealShare moves a step closer to strengthening their presence, especially in tier 2 and tier 3 cities. Over 75% of the products are sourced from DealShare’s large MSME network across the country. It has also received an overwhelming response for its recently launched private label brands. DealShare has reached over 2 crore households and fulfils 4 lakh orders every day across 8 states and 150 cities & towns.
