Online multi-brand fashion platform LimeRoad has launched a financial service to provide assistance to thousands of seller partners amidst the COVID-19 pandemic which has caused major financial challenge to these sellers.
The new service is called ‘Financial Clinic’ and it will mainly focus on small and medium-sized seller partners.
The service will give special preference to manufacturers for the domestic market and exports, who are hit the hardest by this outbreak to help them set long-term goals as markets recover from the ongoing crisis.
While the LimeRoad team was working on building the programme for the past few months, it has accelerated owing to the current distress triggered by COVID-19.
The ‘Financial Clinic’ was launched on 3 April 2020, when a seller partner self-quarantined himself at his warehouse.
Suchi Mukherjee, Founder CEO, LimeRoad, asserted “This pandemic will reshape our industry. Globally, all industries will divide up into winners and losers, and it is our belief that our seller partners, along with us, will be on the winning side. Bain & Co. projected that online fashion is one of the few sectors which will see a huge surge in demand between 3 and 6m, reflecting pent-up demand, stabilising at higher levels by 12m, after a deep cut in the first 3 months.”
