IndiaMART to launch e-commerce marketplace Tolexo.com
IndiaMART.com, an online B2B platform for small and medium businesses connecting global buyers with suppliers, is rolling out a separate online retail marketplace, said a report in Live Mint, citing sources. Christened Tolexo.com, the e-com marketplace will enable businesses to list their entities and consumers to buy various items through the platform. It is not immediately clear if the company will also handle the delivery and order fulfilment.
The new entity has been registered as Tolexo Online Pvt Ltd and will go live in a few months.
Unlike other e-com players like Snapdeal or Flipkart, Tolexo will stock only select items which can vary from exclusive handicrafts to medical equipment or auto parts. "We are not going to compete with the Flipkarts and Snapdeals of the world. The categories that we are going to come up with will be extremely different," said Brijesh Agrawal, co-founder and director of IndiaMART.
Backed by Intel Capital and Bennett, Coleman & Company Ltd (BCCL), IndiaMART offers products that enable SMBs to generate business leads and use business information (finance, news, trade shows, and tenders, etc.). According to the company, it offers the platform and tools to over 1.5 million suppliers to generate business leads from over 10 million buyers. IndiaMART has over 2,600 employees located across 40-plus offices in the country.
Many e-commerce companies in India had launched/integrated online marketplaces to their platforms. India's largest consumer e-commerce site Flipkart.com integrated a marketplace to its platform last year. A few weeks ago, Myntra.com (which was acquired by Flipkart last week) also pivoted to a marketplace model.
A few months ago, online business listing directory Just Dial introduced an e-commerce marketplace. Just Dial offers products in popular categories like mobiles and electronics, but it will not do the order fulfilment. Last August, payment gateway CCAvenue formed a joint venture (JV) with BuildaBazaar.com to launch online marketplace, called Dhamaal.com, for Indian merchants.
World's largest retailer Wal-Mart Stores Inc. is also planning to launch an e-commerce marketplace in India, allowing other smaller vendors to sell to consumers through its website.