GreenDust launches B2B e-auction platform

NEW DELHI: Refurbished goods retailer Reverse Logistics Company, which owns and operates the portal GreenDust.com, has launched a business-to-business e-auction platform as it looks to broaden its suite of offerings. The move could put it on a collision course with the likes of Alibaba and Amazon.

The GreenDust auction platform, which was launched last week, comes at a time when Jeff Bezosled Amazon has signalled its intention of launching a portal for wholesale merchants in India, the first country outside the US where such an initiative is being planned by the company.

"We have created an auction platform, where merchants looking to sell in bulk can connect with buyers looking to buy in bulk, and we offer a number of value-added services," said Hitendra Chaturvedi, founder and CEO of Green-Dust. The move also comes at a time when the country’s wholesale market is expected to grow to $700 billion by 2020 from the current $300 billion, according to Wal-Mart.

"This is the second phase or the evolution of e-commerce. There is definitely an opportunity for GreenDust here, as an increasing number of businesses look to sell their excess inventory online," said Nitin Agarwal, director at investment bank Equirus Capital. Separately, Jack Ma, co-founder of Alibaba Group, has also indicated that the world’s biggest e-commerce company is ready for a bigger play in India’s online retail industry, likely making the country one of the fiercest battlegrounds for global consumer internet companies.

"We will do the inspection of the goods, co-ordinate the payment and transport and store the goods, all for a fee, and if necessary, can attach a warranty, by certifying the products themselves," said Chaturvedi.