Akshata Sharma
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CEO Aadit Palicha believes that VC-funded Zepto has the potential to surpass billionaire Radhakishan Damani's DMart within the next 18-24 months.
Speaking at the JIIF Foundation Day event in the national capital, Palicha said, "DMart is a $30 billion company and they are only 4.5X our size in sales. If we continue to execute well, we will continue to grow 2-3X every year. And potentially surpass them in next 18-24 months which is an exceptionally well executed consumer company."
He said that grocery is a larger market than all the categories serviced by Amazon and Flipkart.
"We are building the mother of all categories... We have had a crazy journey in the past 3 years. We have gone from zero to Rs 10,000 crore (in sales) in less than 3 years. It is the fastest company in Internet India to do that. Flipkart did it in 4 years. We did it in 2.5 years," Palicha added.
He further likened Zepto to a hyperlocal Walmart, saying, "We think of ourselves as a hyperlocal Walmart. That is what has helped us to scale and to the point of profitability we have gotten to."
Palicha's comments come after Zepto raised more than $1.3 billion in funding from investors within just three years, and its current valuation is $3.6 billion.
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