JSW One Platforms eyes $20 bn GMV by FY32
The Sajjan Jindal-controlled JSW Group is looking to build JSW One Platforms into an ecommerce behemoth for the building materials industry, with a targeted gross merchandise value (GMV) of $20 billion by FY32.
Launched as an ecommerce foray of the group in December 2021, JSW One Platforms is an additional distribution channel for its steel, cement and paints businesses. A significant portion of each of the companies’ sales in the segments is expected to come from JSW One. It will also have third-party brands.
Of the targeted $20-billion GMV, JSW products are expected to account for 65 per cent, while the balance would be non-JSW. The 65 per cent share - translating to $13 billion - will account for approximately 20 per cent of JSW’s turnover in steel, cement and paints.
“We think that this is going to be a very large B2B e-commerce play for the group,” said Parth Jindal, director of JSW One Platforms.
JSW One Platforms currently operates two business divisions: JSW One MSME Platform in the B2B space and JSW One Homes Platform in B2C. Jindal said that business had crossed Rs 10 billion in terms of annual run rate and significant momentum had built up. The expectation is that it will end FY23 with a GMV run-rate of Rs 30 billion crore. The targeted GMV for FY24 is $1 billion.
See also:
Birla Corporation to expand cement production capacity
Tata Steel to invest in hydrogen-based steel manufacturing