NDTV's ethnic wear focused e-commerce venture Indianroots.com has recorded revenues of Rs 0.52 crore in the first two months of business with segment loss of Rs 3.37 crore up, as per disclosure by the media firm in its financials for the three months ended September 30, 2013.
Indianroots was launched at the fag end of July which means its revenue is for two months only. The firm had begun preparation for its launch a few months ahead and had clocked a loss of Rs 1.33 crore in the previous quarter ended June 30 even though it didn't record any sales in the period.
NDTV had roped in co-founder and director (brand sourcing) of e-tailer Fashionandyou.com Rahul Narvekar as the CEO of its maiden etailing venture. With this addition, NDTV followed in the shoes of other media conglomerates like Network18 and Bennett Coleman & Co Ltd (The Times of India) which have their own ecom ventures like Homeshop18 and Indiatimes Shopping, respectively.
Earlier this year in May, NDTV Worldwide Ltd and NDTV Convergence Ltd picked up minority stakes of 37.5 per cent and 33.2 per cent, respectively, in NDTV Ethnic Retail Pvt Ltd, the subsidiary that owns and operates Indianroots.com.
Indianroots is mainly women-focused etailer selling categories like apparel, accessories and home dÃ©cor and furnishings. It also offers limited merchandise for men. It competes with all the major ecom players like Jabong, Flipkart, Snapdeal, 99labels, Fashionandyou and Pepperfry besides direct peers like 9rasa.com, Pehraan and IndusDiva.
(Edited by Joby Puthuparampil Johnson)