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Founded in 2011 by Prashant Tandon and Sameer Maheshwari, Healthkart is a Gurgaon based and India´s biggest e-commerce site for health devices and dietary supplements. It sells over 10,000 products from different brands and ships them for free across more than 300 cities in India.
Healthkart operates in a 15-20 billion US$ industry. From order bookings of over 2 crore per month by mid-2012 and a steady growth of 50% every month since then, Healthkart´s growth has been steady and consistent. They plan to break even by March 2017.
It has its own smartphone application, HealthKartPlus that is compatible with Windows, iOS and Android. The app which helps its users learn their medicines better has been downloaded more than 500000 times this year. Four out of 10 transactions happens through the mobile.
Initially, they were into several categories of sports and fashion including healthcare supplements, nutritional products, beauty products and personal care items.
But in 2015, they exited the beauty, wellness and medical devises market owing to rising competition from rivals like Amazon, Flipkart etc. Their current focus is where their strength and future lies i.e. Fitness and Nutrition.
Fitness especially, is a hyper-growth market in India, where the gym penetration is less than 0.5%, while in countries like America, the figure is 16%. On the Nutrition front, its private labels MuscleBlaze and Incredio currently fetch 40-50% margins and their products are 30-40% cheaper than imported global brands.
As a part of company strategy, Healthkart does not disclose any information relating to valuation. They have an aggressive strategy, having cooperative agreements with firms like Optimum Nutrition, a big sports nutrition brand and Phyzo, a mobile app that connects India’s largest network of gyms and fitness centres. In 2002, HealthKart acquired MadeInHealth, an online fitness and body building community and supplement company, strengthening its position in the e-health sector.
Payment is all-inclusive, with nil hidden charges on any purchase. Customers can pay for their purchases via debit cards, credit cards, Internet banking and cash on delivery.
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