Daraz, to capture the online market in a big way

Daraz the online retailer is looking ahead for a massive boost in sales. According to   Rakhil Fernando  CEO of Daraz team their shareholder, Alibaba Group, is pushing them for a triple-digit percentage growth every year.

 

“When I took over Daraz 20 months ago, we had closed $9 million in sales that year. Our run rate based on this month’s sales should take us to between 100-200 million dollars in sales by the end of this financial year.”

 

However the market conditions are not great and the economy is still recovering and Sri Lanka may see a 25 pecnt shrink ,however still that does not dieter the chase of daraz. 

 

The daraz stragey evolve around a young team. The average age at Daraz is 26 years. Rakhil Fernando Wants share power with his team and foster a culture of ownership.

 

‘I want to create a company where people can speak up. Every opinion is valuable; however junior you are. So, we’ve created a flat organizational structure. It’s also informal, and anyone can come and speak to me about anything.’