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30 Best Companies To Watch 2016

iStreet Bazaar: Simplifying eCommerce for Common People of India

silicon-review-pradeep-malu-istreet-bazaar

“We want to simplify the process to consume technology so that millions of people can improve their day to day lives.”

A company driven by innovation and aiming for achieving excellence, iStreet Network Ltd. is an Internet and Retail Catalogue company. As we all are aware of the fact that eCommerce is transforming business world over. However, its India story is a bit different. India is the second most populous country in the world and still eCommerce (non-travel) has touched only 2 percent of the population. India just doesn’t adopt technologies and processes the way they operate elsewhere around the world. Few inherent reasons like reach, education (know-how), trust etc. keep it away from the last mile. This is the reason which prompted the founders of iStreet Bazaar to innovate and adapt eCommerce process for India. Incorporated in 2013, the company offer, market and sell products through their neighborhood stores where every single person of this country can consume and leverage on advantages of technology.

Through its world class platform and network stores, iStreet Bazaar offer thousands of products and hundreds of brands at extremely competitive prices so that customers in smaller towns and villages can easily buy products which otherwise won’t be available in their area. iStreet Bazaar eliminates payment related issues that arise when transacting online. It puts a face to the online transaction since the customers will be transacting at a store with a person behind the counter. This increases the level of trust that is necessary during any online purchase.

Why iStreet Bazaar

Low Risk– iStreet offers Zero risk. There is no compulsion to make an investment in stock and sell on Credit. So there is no risk of unsold items or bad debts.

Low Investment– iStreet Bazaar stores are run on Zero or NO inventory model.

High Returns– It works on a very simple principal – ‘more you sell, more profit you earn.’

Quick Start– iStreet Bazaar store can be up and operational within few days from the time of the application approval.

High Potential growth– Backed by huge Inventory supply hence, iStreet is a highly scalable business.

In Trend– E-commerce is in trend for shopping.

Product Offerings

Daily Bazaar– Bath & Body, Detergents, Foods & Beverages, Fragrance, Hair Care, Skin Care

Home Products– Dinnerware & Crockery, Home Appliances, Drink ware, Toys & Games

Kitchen Products– Small Kitchen Appliances, Grinders, Blenders & Juicers, Storage & Containers

Accessories– Mobile Accessories, Laptop Accessories, Earphones etc

Meet the Executive Duo

Pradeep Malu, Founder and Managing Director
A Chartered Accountant and an Entrepreneur, Pradeep is the founder of iStreet Network Limited (Old name: Principal Pharmaceuticals & Chemicals Ltd.). He redefined company’s business in 2013 with his innovative approach and led the company’s foray into retail e-commerce segment in India. He has been an eCommerce professional since 1999 and has conceptualized and executed large number of eCommerce projects in B2C, B2B and C2C space.

His vision has led emergence of- iStreet Bazaar – India’s first chain of Internet Retail Stores, which is about simplifying eCommerce and taking its reach to common man of India. It blends the look, feel and trust of the local Indian store with aspects of modern e-commerce like choice, convenience and quality. He advocates extension of benefit of digitalization to ‘common man’ as the core value driving the organization.

He also acts as teacher/volunteer in Teach India, which is a Times Group initiative to teach spoken English to the youth belonging to underprivileged sections of the urban society.

Lakshya Malu, Co-Founder
Lakshya graduated as a Mechanical Engineer from Boston University, USA. After graduating he returned to India and has been working on various eCommerce projects since last 3 years. He worked on several projects in collaboration with various large brands and eCommerce platforms. During his tenure, he worked and studied – what is the present system of trade, its deficiencies, its non-transparent pricing system, its quality and authenticity process, end usage, consumer perception, how eCommerce benefits common people of India etc. As a part of one of the projects, he has also done thousands of simulations on ‘make your own jewelry’ project.

He conceptualized iStreet Bazaar project and ran pilots to see as how eCommerce can be simplified for the common people of India.

Prior to iStreet Bazaar Project, he has worked with Memorial Sloan-Kettering Cancer Center, New York as a Research Engineer, Cyber Materials LLC, Boston as a Research Engineer and with Exploration School, Inc. as an Instructor & Advisor.

Future Prospects with iStreet Bazaar

For future, the company is planning to set up ‘iStreet Bazaar Internet Retail Stores’, across India to take benefit of eCommerce to common people of smaller towns, villages and even of metro cities. It would give the common man the benefits, comfort and joy of shopping through the Internet. The company visions a future which will enable ‘A security guard to buy a cell phone on Internet with ease. With iStreet Bazaar, a vegetable vendor would now be able to buy a value for money camera for his family.’

With an objective to enable every common person to buy what he/she wants with ease and at great online prices, iStreet Bazaar is planning to set up thousands of such stores across India to simplify eCommerce for common people of India.

“We are here to build a company which will service at least 1/7th population of the world.”

In the News!!

29th Sep, 2016– iStreet Network : Re-Engineering Retail – Empowering Mom & Pop Stores

5th April, 2016– New FDI policy in eCommerce to benefit small businessman of India

24th Dec, 2015– iStreet added a new dimension of Digital Products under the banner “iStreet Bazaar Services”

2nd Dec, 2015– iStreet launches EMI facility for its buyers

5th Oct, 2015– iStreet not to transfer its Internet Retail business to its Subsidiary

28th Aug, 2015– iStreet Network launched its 2008th Stores

30th April, 2015– iStreet Network Limited created subsidiary for expanding its Internet Retail Store business

24th Feb, 2015– iStreet Network Limited launches its 1,100th lnternet Retail Store

1st Dec, 2014– iStreet Network has now over 500 Internet Retail store

24th Nov, 2014– iStreet Bazaar featured as Startup Project of the year

14th Nov, 2014– Q2 update – iStreet Network expanding its Internet Retail Store Network

6th Oct, 2014‘iStreet Bazaar Stores now in Maharashtra’

22nd Jul, 2014– iStreet Network Limited adds ‘Wholesale e-Commerce Opportunity for its Network Partners’

24th Mar, 2014‘iStreet Bazaar Stores – Now Open in Gujarat’

30th Jan, 2014– iStreet Bazaar Stores – Unlocking Innovation in Online Retail

 “We are Re-Engineering Retail of India”

“iStreet Bazaar stores are for the ‘Common Man’ of India. A security guard would now be able to buy a cell phone with ease.”

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