How it Started
Minigaffar started mini, only to grow much later. It began by dealing in the merchandise of phone covers but has now grown to include a wide array of goods. It believed in innovation right from the start and it's expansion stands testimony to this fact. Not just the variety, Minigaffar has had also introduced many striking features of Indian e-commerce market. MiniGaffar offers a range of products from mobile phones to VIP mobile numbers, it also offers a range of lifestyle products.
Back at the time when Minigaffar was launched, any e-commerce company faced two major difficulties.
First, online payment gateways were hard to set-up and were not even preferred. Not many were open to making payment online nor was getting registered easy. Minigaffar tackled this problem by introducing payment by card on delivery option besides the other options that it provided.
Second, the entire supply chain system was difficult to establish. Delivering goods on time is one of the most important factor that determines the success of an e-commerce company.
In the first few years of its existence, Minigaffar raised funds through venture capital funding. As the company grew in stature, more funding arrived. Minigaffar repaid the investors’ faith with terrific performances year after year. In the financial year 2015-16, Minigaffar had made sales to the tune of 6 million Indian rupees.
This soon increased to 8 million Indian rupees the following year. The graph for company's profits has only gone high and is expected to go much higher in the coming years.
Today as it stands, Chetan Sultania is the Chairman of the company and Vikrant Lakda is the Chief Executive Officer of Minigaffar.
Minigaffar also acquired a few companies, the likes of which include:
etc., to better their presence in the market. In a country where stereotypes are common, Minigaffar managed to break the norm and change the e-commerce industry in India for ever. Minigaffar’s story proves that if you have a great idea, and you are a doer and not a thinker, success is not far off.