Shiprocket announces acquisition of Arvind's omnichannel technology business - Omuni. The transaction will be carried out as a combination of stock and cash for total consideration of Rs. 200 crores. The combination of both entities will facilitate quick, efficient deliveries of shipments from the nearest store or warehouse, significantly reducing delivery timelines and enhancing customer experience.
Both Shiprocket and Omuni are industry leaders and integral partners in a larger D2C commerce enablement segment. The ecosystem comprises of retailers, e-commerce shopfronts, marketplaces, ERPs, point-of-sale systems, warehouse management solutions, payment solutions, and CRM solutions required for best-in-class shopping experiences for consumers. With most retailers adopting an omnichannel retail strategy to cater to consumers across digital and physical storefronts, the Shiprocket-Omuni acquisition deal will deliver a more robust and seamless post-purchase experience to customers.
Focusing on leveraging cutting-edge technology to build data-driven solutions and integrated product offerings, the Shiprocket and Omuni deal will ensure better inventory utilization, faster localized fulfillment, optimize operational costs, and deliver delightful multichannel experiences. With seamless inventory sync and fulfilment between online and offline channels, order volumes and order fulfillment rates will increase for retailers.
Saahil Goel, Co-Founder, and CEO of Shiprocket said, "We are pleased to announce the deal and excited to have Om uni as a part of the ever-growing Shiprocket family. Omuni's Saas products will allow us to unify inventory, order, catalog, content, pricing, and data across physical and digital storefronts for the best possible e-commerce experience for customers. Together, we aim to redefine e-commerce logistics through omnichannel retail enablement. We look forward to working with the Omuni team to make this happen."
Commenting on the transaction, Kulin Lalbhai, Executive director of Arvind Ltd., said "We are delighted with the merger of our technology division into Shiprocket. We have built Omuni into an industry leading product used by some of the largest brands in the country. By combining our retail stack with the Shiprocket Ecosystem we will be able to make the extensive inventory of retail stores available to be sold seamlessly via Shiprocket's logistics as a service solution. The coming together of these two product stacks will create a lot of value."
The global rollout of this combined tech stack is also expected to be a game-changer for both Shiprocket and Om uni.
Shares of Arvind Limited was last trading in BSE at Rs. 86.00 as compared to the previous close of Rs. 86.55. The total number of shares traded during the day was 139046 in over 3400 trades.
The stock hit an intraday high of Rs. 88.95 and intraday low of 85.20. The net turnover during the day was Rs. 12136260.00.