Network18’s TV and online commerce company HomeShop18 has appointed Vikrant Khanna as the Chief Marketing Officer (CMO) for its TV, web and mobile business. Khanna will be taking over from Rashmi Berry who had quit the company in March 2013.
The company said that Khanna will be responsible for leading the company’s marketing and communication, customer relationship management and B2B sales and alliances among others.
Prior to this appointment, Khanna was serving as the VP (Consumer Engagement & Digital) at Bharti Airtel, where he was apparently responsible for revamping Airtel.in and increasing Airtel’s e-commerce revenues. He was with Airtel for six years in different roles. Besides this, Khanna has also had stints at ICI Paints, Sify, Godrej Pillsbury and Dabur. He has a total 19 years experience in marketing and business roles.
Launched in 2011, HomeShop18 currently competes with e-commerce ventures like Flipkart, Myntra, Jabong and Snapdeal among others in the country. However, the company also offers an alternative distribution channel to brands through its 24-hour home shopping television channel which was launched in 2008.
Earlier this month, it had reported a net turnover of Rs 225.4 crore for the year ending March 31, 2013, a 89.4% increase from Rs 119 crore revenues in FY12. It had posted increased losses of Rs 120 crore for FY13, a 11.84% increase from Rs 107.3 crore loss in FY12.
Last month, HomeShop18 had launched a food and groceries category, although it is focusing only on packaged non-perishable food products as of now. The company claims to have over 14 million SKUs across various product categories and claims to deliver products to over 3000 locations across India. Citing comScore metrics, it also claims to have recorded 8.1 million unique visitors in June 2013, a 119.4% increase year-on-year.
In April 2013, HomeShop18 had raised $30 million from hedge fund OCP Asia and Network18 at a valuation of $330 million. OCP Asia had invested $15 million in the company while Network18 had invested a similar amount to maintain its 51% stake in the company. Other investors in the venture include SAIF Partners and GS Home Shopping.
Related:
– Homeshop18′s Plan For Retailing Food and Groceries
– We’re The Only Company In The Space That Has FDI Approval – Homeshop18 CEO Sundeep Malhotra
– Homeshop18 Launches Virtual Shopping Wall At Delhi Airport; The Point?
– #NAMA Video: Binny Bansal & Sundeep Malhotra On Building An E-Commerce Business In India
