Cupid Ltd Unveils New Mother Warehouse in Mumbai Amid Rapid B2C Growth

Cupid Ltd announced in a stock exchange filing the grand opening of its new Mother Warehouse in Bhiwandi, Mumbai.

The company stated that this strategic initiative addresses the significant growth of its business-to-consumer segment. Launched just six months ago, Cupid’s consumer business, under the brand names “Cupid,” “Cupisure,” and “Cupikit,” has already made a substantial impact, contributing over 14% to the company’s total revenue. The “Cupid” brand includes condoms, deodorants, and other personal care products, while “Cupikit” focuses on rapid IVD products, and “Cupisure” offers pregnancy detection kits.

The new Mother Warehouse underscores Cupid Limited’s commitment to meeting increasing product demand. Currently available in 50,000 outlets, the company aims to double this number within six months. This expansion will not only improve product accessibility for consumers but also strengthen Cupid Limited’s market position.

Cupid Limited is poised for continued growth and success in the consumer-branded business sector with this strategic expansion. Stay tuned for more exciting developments as Cupid Limited continues to innovate and expand its product offerings, bringing new and exciting products to customers.

Speaking of this development, the Managing Director of Cupid Limited, Aditya Halwasiya, “We are thrilled with the overwhelmingly positive response to our consumer business in such a short time. The opening of our new Mother Warehouse demonstrates our dedication to meeting customer needs, ensuring product availability in more locations, and enhancing our value chain.”

Recently, the company announced a strategic partnership with SAP to implement the advanced ERP system, SAP S/4HANA Cloud. This initiative highlights Cupid Limited’s commitment to enhancing operational efficiency, improving decision-making processes, and driving sustainable growth through advanced technology. Integrating SAP S/4HANA Cloud will provide Cupid Limited with a comprehensive suite of integrated applications, enabling superior real-time data processing and analysis. This will lead to more efficient resource management, streamlined supply chain operations, and the development of new B2C distribution channels.

On July 8, 2024, the share price of Cupid Ltd opened at ₹91.00, touching the day’s high at ₹91.20, as of 9:48 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.