Mumbai, July 26 : With an aim to become a leading warehouse player in the country, Flomic Global Logistics is planning to expand its warehouse capacity to 470,000sq ft across India by FY 22-23spread over in the state Maharashtra, Delhi NCR, Bangalore & in Chennai. The Mumbai headquartered logistics firm, Flomic has identified the evolving and growing need for warehousing in India and started its warehousing operation in 2017 and today Flomic has secured nearly 1million sq ft of space. The company has also chalked out a plan to invest another Rs 15 crore to fuel this growth.
Booming industry growth, favourable government policies and a reigning pandemic have proven to be a boon for the warehousing industry. For us warehousing is now a crucial part of the supply chain economy and the industry has metamorphosed on the back of technological advancements and newer business models, said Lancy Barboza, MD, Flomic Global Logistics Ltd.
In the last 4 years an investment of 10cr has been made in warehouses & equipment. As per the present and proposed growth plan, an investment of Rs 5cr is planned by 2nd quarter. By 3rd quarter an investment of additional 10cr is planned.
Proposed investment will be mainly in Racking, Material Handling Equipment, temperature controlled warehouses, new warehouses. Additionally, investment is planned to create infrastructure catering to e-com businesses across India, added Barboza.
Looking at the growth pattern Flomic is at par with market growth. As Ecom and manufacturing expanded base after covid 19, strategy has been planned to capture these markets. We have invested aggressively in Software (WMS), high standard Material Handling Equipment and Racking.
Over the span of the last five years the firm has established 18 warehouses with a combined capacity of 0.8 million sq ft spread across India. The company has set up warehouses with advanced stacking facilities and specialised temperature-controlled space which caters to the unique needs of pharma and FMCG players. It is currently serving 20 plus customers, which includes marquee clients like Ceat, Bridgestone, Jubilant Foodworks, Saint- Gobain etc. Moreover, Flomic aims to expand its footprint into tier II cities and is in the process of setting up 7 warehouses totalling 0.47million sq. ft . With these additional warehouses becoming operational the firm will have 1.5 million sq ft of warehousing facility and aims to generate INR 400 mn in revenue from the same in FY23.
Over the period, Flomic has witnessed strong traction from the e-commerce businesses and in-order to enable them to fulfil the growing demand in metros and to reduce the TAT the firm set up dedicated warehousing facilities in Bhiwandi ( Maharashtra), Bengaluru, Gurgaon and Kolkata catering to 25 plus B2C brands spanning cosmetics, chocolates, pharma, baby products, IT hardware, F&B, fitness equipment and healthcare, said Barboza.
