Exclusive: Fire at Shiprocket’s warehouse impacts over 60 brands

A fire broke out last Thursday at Shiprocket’s warehouse in Bhiwandi, Maharashtra, causing widespread damage and disrupting operations, according to sources familiar with the matter.

“The incident has affected at least 61 brands, including popular names like Sugar, mCaffeine, and Beastlive. Goods worth several hundred crores were destroyed in the blaze,” a person requesting anonymity told Entrackr.

A Shiprocket spokesperson confirmed the fire incident. "Yes, we are aware of the incident and are fully cooperating with the relevant authorities and the fire department as they investigate the cause of the fire. We are relieved to report that no human life was endangered during this incident,” the spokesperson told Entrackr.

“Our primary focus now is on understanding the circumstances that led to this situation and taking the necessary steps to ensure the safety and efficiency of our operations moving forward. We are committed to resuming our services while prioritizing the well-being of our team, partners, and the community. Additionally, we are dedicated to servicing our customers to ensure business continuity for them,” the spokesperson added.

Shiprocket, however, did not disclose the names of the brands affected by the incident.

Sources further said that the incident has led to disruption in supply chains for many affected brands, raising concerns about safety measures in warehousing operations as more businesses rely on third-party fulfillment services.

Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket provides logistics and supply chain solutions to retailers. The company claims to empower over 1.5 lakh active businesses and enable 5% of India’s e-commerce through its platform.

The Zomato-backed company turned unicorn in August 2022. In October last year, it also scooped up $11 million from McKinsey at a flat valuation. For the fiscal year ending in March 2024, Shiprocket claimed that the company’s operating revenue grew 21% year-on-year to Rs 1,316 crore.