By 2020, e-commerce in India will be $115 billion and assuming 10%-15% return rate means that over $12-$17 billion in value of products will be returned every year.
The India’s first-of-its kind store launched by the company allows the people to purchase refurbished and pre owned handsets with warranty of all varieties and brands first-hand.
Mr Sawhny will help the company develop strategy, build its organization and develop its sourcing and distribution strategy.
Abhishek Sharman, Managing Director of Carpediem has joined the board to help with growth, capital structure and operations. A strategic advisory board will be added to aid in growth and to assist with partnerships going forward.