NDTV’s e-commerce business (Indianroots.in) has reported revenues of Rs 2.28 crore for the quarter ended September 3, 2014, as compared to revenues of Rs 0.52 crore in the same quarter last year and Rs 4.43 crore revenues in the previous quarter.
The company has posted a loss before tax of Rs 3.16 crore for the year, a minor improvement from Rs 3.37 crore loss in the same quarter last year and from Rs 4.5 crore loss in the previous quarter.
NDTV had launched IndianRoots in July last year and it currently focuses on on Indian ethnic wear providing products like women’s apparel that includes sarees, lehengas, salwar kameez & kurtis and men’s apparel that includes sherwanis, kurta pyjamas & jackets. It also offers accessories like jewelry, bags, wraps and others along with home furnishing and stationery products.
The company claims to have tie-ups with over 500 brands including AND, Aikya, Anouk, Bombay Dyeing, Indian Artizans, Tamaara Couture, TwoPeople India and Rang Banarasi among others and more than 50 designers like Rajdeep Ranawat, Anita Dongre, Deepika Govind, Manoviraj Khosla, Rohit Bal and others.
Over the past year, IndianRoots also seems to have introduced Custom tailoring service that enables users to send a picture of a look or a product to IndianRoots and order a made-to-measure garment in that specific look.
United States is the biggest market for the company followed by India. In the previous quarter, NDTV had mentioned that IndianRoots had touched an average order value of Rs 9,000.
In May this year, NDTV had also mentioned it had spent an incubation cost of Rs 25 crore on the venture and is currently in talks to raise capital through private placement. However, there has been no updates on this front yet. We’ve written to NDTV for more information on this and will update once we hear back.