Meesho buys Kirana Club for ₹202cr expanding India grocery footprint
Business
Meesho just bought Kirana Club for ₹202 crore, aiming to get a bigger slice of India's massive grocery market (estimated at over $650 billion).
Kirana Club, started in 2020, helps over 4 million local shop owners connect with brands through its mobile-first platform.
Even with this big move, Meesho's shares slipped by 1.09% to ₹165.10 in afternoon trade on Monday.
Meesho to integrate Kirana Club logistics
Kirana Club will keep running independently with its founder, while existing investors are getting a full exit.
Meesho plans to plug Kirana Club into its own logistics and supplier network, so small shop owners can find and order products more easily.
This should help Meesho reach more local stores, especially in areas that don't get much attention yet.