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Each country has its own shopping season, usually around annual festivals or public holidays. There’s Christmas in most Western countries, Lunar New Year in China and in India of course the sparkling shopping season of Diwali. The season in India starts around Rakhi festival or Independence Day. That’s when most apparel retailers start to advertise. The shopping season goes on to peak at Diwali, which is usually in October or November. This year it falls on 23rd Oct 2014. Before the festive season sets in, apparel retailers plan to maximize their inventory. It is always advisable to have fresh variety of garments in ample quantity to offer to customers. This will eventually help the retailer increase sales and to increase inventory retailers require short term working capital. Mr. P.K Khaitan, M.D of NeoGrowth said, “At NeoGrowth we have understood the importance of the shopping season for apparel retailers. During this time of the year retailers need funds to finance new inventory or renovated their shop before the festive season. Keeping this in mind we have launched a prefestive campaign ‘Stock More Sell More’, where Apparel retailers can get quick-n-easy loans from NeoGrowth and prepare themselves for the festive season.” The campaign was launched in June 2014 and will continue till the onset to the festive season i.e. September 2014. As part of this campaign, NeoGrowth has planned a mix of outreach programs, preapproved offers and surprise gift schemes. Through the campaign NeoGrowth is aiming at reaching out to more than 5000 apparel retailers, and help them also have a Happy Diwali. An Update from NeoGrowth ‘Stock More Sell More’ – NeoGrowth’s pre-festive campaign.
NeoGrowth Credit Pvt Ltd. is a fast growing Non–Banking Finance Company registered with the Reserve Bank of India and is a member of CIBIL. NeoCash, the Smart Merchant Advance offered by NeoGrowth, is the first of its kind business finance option for Retailers, F&B outlets, Healthcare and Beauty providers amongst a host of other categories, with unique features. NeoCash is tailor made for merchants accepting card payments, as it has no fixed EMI and allows Automatic Repayment. The product requires Minimum Documentation, and comes with Doorstep Fulfilment Service. NeoGrowth has been set up by DK & PK Khaitan in 2011, and Omidyar Networks, a Silicon Valley VC fund, and Aspada, banked by Soros Economic Development Fund, have invested within the company. Having piloted the product in 2012-13, NeoGrowth has launched commercial operations in Mumbai, Bengaluru & Delhi, and plans to expand to other markets in © India shortly. NeoGrowth has built AdvanceSuite , the most sophisticated Business Advance platform in the world, which enables seamless enterprise wide workflow integration, automated tracking, robust risk management, reporting and business intelligence capabilities. NeoGrowth has a valid Certificate of Registration last updated on September 30, 2013 issued by the Reserve Bank of India under section 45-IAof the Reserve Bank of India Act, 1934. However the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinion expressed by the company and for repayment of deposits / discharge of liabilities by the company.
