India’s Naaptol targets $112.12m sales revenue with expansion plan
Indian multichannel home shopping company Naaptol has revealed plans to expand and decentralise its fulfilment centres in order to achieve its sales revenue target of Rs7.2bn ($112.12m) during the current financial year.
The company, which operates through teleshopping and online platforms, is also set to expand its portfolio to offer in excess of 800 products, according to Press Trust of India (PTI).
With its delivery network spread across the country, the retailer reported a turnover of around Rs6.3bn ($98.1m) for 2016-2017.
Naaptol founder and chief executive Manu Agarwal said: "Our focus this year is to expand and decentralise our logistics. We opened two fulfilment centres last year, and are opening two more this year in Delhi and Hyderabad for an investment of $1m."
On its programming front, Naaptol intends to expand regional language content in order to tap the potential of the southern markets of the country.
Agarwal added: "We are working on two key things this year. One is expanding programming capabilities, and moving towards the regional language side. We are programming close to 700 shows every month."
Receiving 80% of its revenues from round-the-clock advertising, the company is also contemplating expanding its business portfolio by venturing into insurance space.
In November 2015, Naaptol set aside a 20% stake for Japanese firm Mitsui in exchange for Rs3.4bn ($53.41m) in equity funding.
In order to execute the expansion programme, the company intends to raise additional funds next year.