India-based e-commerce company YepMe plans to spin out its software sales unit with between $15m and $20m in funding from external investors, the Economic Times reported yesterday.
YepMe produces its own branded fashion goods that it sells online, though it is increasingly looking to expand into offline sales.
The company has latterly begun offering the online and offline inventory management software it has developed to other companies, and is looking to expand that part of its business due to the higher margins available on sales.
In addition to the software push, YepMe intends to expand substantially over the course of 2016 and is prioritising an increase in its offline stores. It aims to have opened 400 by the end of the current financial year, some of which it will wholly owned and some of which will be franchise outlets.