The startup operates an online platform for short-term rental of commercial retail spaces, featuring a minimalist interface, modular fixtures, and integrated billing systems. This solution enables brands to efficiently select venues, manage bookings, and customize their retail setups, addressing the challenges of establishing temporary retail operations.
Funding
$7.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many brands face challenges when trying to establish a physical retail presence, including high upfront costs, lease liabilities, and the complexities of managing store design, operations, and staffing. These hurdles can prevent brands, especially emerging ones, from efficiently entering or scaling in the offline retail market.
Solution
LiteStore offers a Retail-as-a-Service (RaaS) platform that enables brands to effortlessly source, design, execute, and operate retail stores and experience centers. The platform provides access to strategically positioned retail locations in prime high streets and malls, along with support for store design and fit-out to bring brand identities to life. LiteStore streamlines operations with integrated POS systems, customized retail strategies, and specialized staff support, allowing brands to focus on product, marketing, and online presence while LiteStore handles the complexities of offline retail. By assuming lease liabilities and covering initial build-out costs, LiteStore reduces financial risks and converts CAPEX to OPEX for brands.
Target Audience
The primary target audience includes emerging and established brands across various categories seeking to establish or expand their offline retail presence without the traditional capital expenditure and operational complexities.
Features
- Access to Grade A retail spaces in premium malls and high streets
- Streamlined retail project management with complete workflow automation for store fit-outs
- Integrated Point of Sale (POS) and omnichannel solutions for seamless retail transactions
- Offline payment products to reduce friction in offline payments, including split settlements
- Retail analytics to unlock actionable insights, including omnichannel insights and in-store customer analysis
- Retail Connect Platform for streamlining order management and fostering retailer connections
- Support for various retail formats, including high street stores, mall spaces, tech parks, and outlet spaces
- Assistance with hiring and training retail staff