subject: Fabmart - Introduction [print this page] FabMart, a part of MRPL (Madanapalle Retail Private Limited) is an Indian retail venture started in 2011 by Alphonse Reddy. Based in Bangalore, FabMart and its business model aim to bridge the divide between the urban and rural parts of India when it comes to retail business. FabMarts business model has an interesting online-offline presence and it caters exclusively to Tier 3 & 4 cities and towns of India and employs what it calls as its flagship TouchStop & Cybercaf affiliates to serve its customers.
FabMart has a vast range of products including Shoes, Mobiles, Bags, Sunglasses, Laptops, Watches, and Perfumes etc., from major brands.
FabMart's business model provides a seamless shopping experience to its customers by involving the local retailers as part of the model, thus creating a mutually beneficial model for both FabMart and its retailers. FabMarts local store collect' feature allows customers to pay in cash if they do not wish to use a credit card or a Debit Card for an online transaction. In this model, the ordered product is not shipped to the customer's individual address but is dispatched to the nearest retail partner available, from whom the customer can collect the delivered product and pay the retailer in cash upon receipt of product.
FabMart's offline business model will also work the other way round. If a customer wishes to place an order, he/she can do so with the retailer, using an electronic catalogue called FabMart TouchStop, provided by FabMart to its retail partners. This electronic catalogue is an Android based tablet that has the details stored and it lists all the products available online. Using this electronic catalogue the customer can also make an order online from the retailers desk. Apart from these unique ordering and payment methods, FabMart also offers the traditional payment methods that make use credit card, debit card, net banking, Cheque, etc.
If in case of a customer complains of a damaged/defected product, FabMart endeavors to ensure a cost free replacement within 30 days from the date of delivery. However, the product return and exchange policy is governed by the company laws and is subject to company's jurisdiction and availability of the product.
FabMart is managed by an expert team of highly capable individuals. With Alphonse Reddy (an Engineer from BITS and a management graduate from INSEAD) serving as its CEO, Avinash Mohanty (head of south - MBO, EBO, Trade Channel for Belmont and World Ptlayer) is the AVP-Commercial. Hemachandra Zaveri (Co-Founder of Forum Synergies), Anand Morzaria (CEO-PennyWise Solutions) and Ashish Agarwal (Investment Director of Navis Capital) form the advisory board while PennyWise Solutions is the institutional investor.
FabMart with its unique business model and seamless transaction methods endeavors to make the online shopping experience a smooth, hassle free affair for all its customers.
