wordpress blog stats
Connect with us

Hi, what are you looking for?

NDTV’s e-commerce biz IndianRoots secures $5 million funding from KJS Group

IndianRoots NDTV

NDTV’s e-commerce business NDTV Ethnic Retail Limited, which operates ethnic apparel online store IndianRoots.in, has raised $5 million funding from KJS Group. The company claims that following this round of funding, IndianRoots is valued at $85 million. The funds will be used to scale up the platform’s logistics and delivery mechanisms and to invest in marketing activities. Last year, NDTV had mentioned that the company had spent an incubation cost of Rs 25 crore on the venture and was apparently in talks to raise capital through private placement.

IndianRoots, which was launched in July 2013, has posted losses for the past four quarters: Rs 9.99 crore in Q4-FY15, Rs 6.02 crore in Q3-FY15, Rs 3.16 crore in Q2-FY15, Rs 4.5 crore in Q1-FY15. NDTV Ethnic reported revenues of Rs 6.80 crore for the quarter ended March 31, 2015, as compared to revenues of Rs 3.50 crore in the same quarter last year and Rs 6.06 crore revenues in the previous quarter. It reported Gross Merchandise Value (GMV) of Rs 26 crore for the quarter, down marginally from Rs 29 crore GMV in the previous quarter. The company also mentioned that Average Order Value for FY15 was Rs 17,000, as compared to Rs 9,000 in FY14.

IndianRoots sells Indian ethnic wear, including women’s apparel such as sarees, lehengas, salwar kameez & kurtis and men’s apparel like sherwanis, kurta pyjamas & jackets. It also offers accessories like jewelry, bags, wraps and others along with home furnishing, stationery products and handicraft products from local artisans. The company has tie-ups with close to 500 brands and designers, and it had also introduced custom tailoring. United States is the biggest market for the company followed by India. India accounted for 30% of the website’s traffic (as of August 2014).

NDTV Ethnic Retail had also acquired 100% stake in JA Ethnic Retail Private Limited, in November 2012.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ