This collaboration will enhance mCaffeine’s D2C footprint and strengthen its market leadership in the Skincare segment
Mumbai, July 9, 2024- mCaffeine, India’s first caffeinated Skincare brand, has announced a strategic partnership with GoKwik, a leading eCommerce enabler, to further enhance its online presence and accelerate growth.
mCaffeine has established itself as a leader in the Skincare industry, boasting an annual revenue growth of over 300% in recent years.
This partnership with GoKwik aims to further support mCaffeine’s mission of increasing their market share by 10% in key categories and revenue by 70% this year by offering superior shopping experiences to its customers while expanding its D2C footprint across the roots of Bharat.
mCaffeine will leverage GoKwik’s 100 Million shopper network, the deepest in India to enhance the experience right at the start of the checkout journey all the way till the end. With unique features like one-tap OTP login, pre-filled addresses, extensive discounts, rewards, and loyalty partnerships, and an exhaustive payments suite, mCaffeine is expecting 25% higher revenue, better shopper satisfaction and reduced cash burn by integrating GoKwik checkout into its platform.
“We are thrilled to join hands with GoKwik as our trusted partners in the next leg of our growth journey,” said Vaishali Gupta, Co-founder and Chief Growth Officer, mCaffeine. “With GoKwik’s eCommerce acumen, we are set to redefine the shopper experience in the growing D2C landscape. With their solutions like KwikCheckout, we are already seeing a positive upward movement in our conversions, and overall revenue growth. We are positive this partnership will further help us in establishing a deeper, and lasting footprint across India, and compliment the next phase of our growth, ” continued Vaishali
GoKwik’s tech and data-led solutions, including its category creator product, KwikCheckout, are designed to enable eCommerce brands to scale their growth by optimising the checkout process, thereby creating an ease of shopping experience and increasing the bottom line. GoKwik’s network data intelligence also ensures a reduction in return to origin (RTO) losses that occur when a COD order gets returned before delivery, increasing operational, logistics, and other costs for eCommerce brands.
“mCaffeine represents the pinnacle of innovation in the Skincare industry, and we’re excited to support their ambitious growth targets,” commented Chirag Taneja, Co-Founder and CEO, GoKwik. “We will be committing fully to amplifying mCaffeine’s digital footprint, ensuring they not only meet but exceed shopper expectations. This partnership is another step in creating an ecosystem where eCommerce brands continue to disrupt, thrive and grow.” Continued Chirag.
mCaffeine has increased revenue by 51.8% in the last year, setting a key growth benchmark for eCommerce brands. They are also venturing into omnichannel space and targeting 24 key micro markets for offline expansion. GoKwik houses over 4000 eCommerce brands in its network including Lenskart, Neemans, Man Matters, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space.
