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NDTV’s IndianRoots.com secures fresh funding of $5 mn

The additional funding in NDTV’s maiden e-commerce venture has been done by KJS Group

NDTV’s IndianRoots.com secures fresh funding of $5 mn

The additional funding in NDTV’s maiden e-commerce venture has been done by KJS Group

BestMediaInfo Bureau | Delhi | May 15, 2015

Indianroots logoNDTV Ethnic Retail Ltd, a subsidiary of NDTV Ltd, which operates the group’s maiden e-commerce venture, IndianRoots.com, has concluded a fresh round of funding of $5 million from KJS Group at valuation of $85 million.

Dr Prannoy Roy, Co-Chairperson, NDTV, commented, “We have always envisioned IndianRoots.com as the leading e-commerce player in its segment. With the fresh investment in the business and the complete backing of the NDTV Group, IndianRoots will be able to push harder in achieving its plans for the year. We look forward to our partnership with the KJS Group in strengthening the IndianRoots venture.”

Launched in mid-2013, IndianRoots.com showcases over 100 designers and over 700 brands on its curated online marketplace. It has a worldwide customer base, with India and the US being the largest markets.

Speaking about their investment, Kamaljeet Singh Ahluwalia, Chairman, KJS Group and Karanpal Singh, Director, KJS Group, said, “Given our interest in the e-commerce sector, partnering with a respected and credible organisation such as NDTV was the obvious choice for us. With the clear positioning of IndianRoots and its achievements in the Indian fashion domain, we are confident that the business has a great growth story ahead.”

NDTV Ethnic had achieved gross merchandise values (GMV) of Rs 61 crore in the year ending March 31, 2015, a 12x jump over its previous year, as per a statement issued by the company. The newly acquired funds will be used to scale up the portal’s logistics and delivery mechanisms, and expand its marketing activity with the aim to be the market leader in Indian fashion in the year ahead.

Info@BestMediaInfo.com

Info@BestMediaInfo.com

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