Network18 Group teleshopping company, HomeShop 18 is aiming to double its revenues by this fiscal year as the company expands its operation & distribution chain. They are also expecting to turn out to be profitable in the coming 18 months.
HomeShop18 is a subsidiary of Network18 Media & Investments who have 4 million users worldwide.
HomeShop 18 is a three and half year old company & has the largest alternate distribution channels in india. In this year they are expecting to double its revenue as compared to its last year revenue of rupees 410 crore. Though the bottom line is still in red but they are hopeful that in the next 18 months they will be able to attain the breakeven.
At present the focus has been to strengthen the consumer base & infrastructure and apart from offering innovative products and brand building they are looking for people engagement. As internet is growing at the rate of 35 percent so we can expect that the business growth potential is very high and the company is presently growing by200 per cent on a quarter on quarter basis.
The company reaches out to 10 million plus households located across 3000 cities and selling more than 450 established brands. It handles 15,000 transactions worth rupees 2 crores everyday. Recently they have acquired a CoinJoos.Com which is an online book dealer at an undisclosed amount. It has also signed agreement with GS Shop & Korean Trade and Investment Promotion Agency so that Korean companies can enter our markets.
“Bell the bull says: we are expecting a good growth in the business because of the internet accessibility.”