In the fiscal year 2025, the fashion segment of Magicpin, a hyperlocal e-commerce platform, saw a 20 per cent increase in gross merchandise value, reaching Rs. 1,000 crore (US $ 120 million).
With the addition of 6,000 new fashion-related outlets, the company now has 16,000 locations with more than 250 brands. In the upcoming years, Magicpin intends to expand its partnerships with fashion retailers carrying both Indian and foreign brands in order to further propel its growth.
Commenting on the growth, Naman Mawandia, Chief Experience Officer – Enterprise Brands at Magicpin, said the company is thrilled to see strong momentum in its fashion vertical, which has been a key area of focus. The addition of 6,000 fashion stores across 100 brands, bringing the total to 16,000 stores and over 250 brands on the platform, reflects the significant value Magicpin offers to offline retailers and brands.
Brij Bhushan and Anshoo Sharma, in 2016, founded Magicpin, a platform that links customers with hyperlocal products and retailers. With 50 lakh customers spread across 20 locations, it boasts more than 2.5 lakh businesses on the platform.
