Add-Shop E-Retail adds 1500 Distributors & 30 Franchisees in December 2020

Add-Shop E-Retail Ltd has announced about the efforts taken by your company in expanding its marketing network and foothold across the country.

Add Shop E-Retail has stepped up its growth initiatives by way of expanding its product portfolio and also its marketing network. With slew of new product launches and many more in pipeline, the company has taken effective measures to leverage on its quality product portfolio by expanding its geographic presence across the country.

In its efforts to position itself as a pan-India player, the company has entered into new geographies like Uttar Pradesh, North East, Tamil Nadu & Kerala in the month of December 2020. The company has appointed Distributors and Franchisees in the new and existing geographies during the month. Overall, it has expanded its active distributors network by over 1500 and active franchisees by over 30 franchisees during the month.

Commenting on the recent expansion of its distribution network, Mr Dineshbhai Pandya, Promoter and Managing Director, Add-Shop E-Retail Ltd said, "We at Add-Shop E-Retail are pleased to inform our stakeholders about the steps taken by your company to step on the growth momentum of the company. We have adopted two-pronged strategy of growth - by expanding our product portfolio and at the same time expand our marketing reach across the country. The company is entering newer geographies and at the same time strengthening its foothold in the states where it is already having presence."

He further added, "We went out aggressively in the month of December 2020 and added around 1500 distributors and around 30 franchisees across the country. Overall, the addition during the month, has helped us in expanding out footprint pan-India with active distributors of around 8000 distributors and active franchisees of around 1250 franchisees. The company is taking adequate measure to step up its marketing network in the coming quarter, which is expected to result in substantial improvement in our financial performance in coming quarters and years to come."

Shares of Add-Shop E-Retail Ltd (formerly Add-Shop Promotions Ltd) was last trading in BSE at Rs.65.05 as compared to the previous close of Rs. 65.05. The total number of shares traded during the day was 30483 in over 90 trades.

The stock hit an intraday high of Rs. 68.3 and intraday low of 65. The net turnover during the day was Rs. 2019997.

Source : Equity Bulls

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