India-based business conglomerate Tata Group has launched an e-Commerce portal for its retail arm, Infiniti Retail, which runs electronics and consumer durables stores under the Croma brand.
The latest move of the firm comes amidst the growing e-Commerce space attracting funds from private equity and venture capital investors, reported The Economic Times.
Infiniti Retail managing director and chief executive Ajit Joshi said with the higher penetration of internet connectivity, online sales are catching up in a big way.
"The e-commerce portal, 'cromaretail.com' will help us reach deeper into cities where we do not have presence so far," Joshi said.
Joshi added that the launch of e-Commerce portal comes after receiving feedback from sister-concerns like Tata Teleservices, VSNL and Docomo.
The new portal, which is developed by sister-company TCS, will enable the firm to reach 319 cities, 24 states and two Union territories of India.
Infiniti Retail has collaborated with global logistic firms such as Blue Dart, Fedex, India Post and Tata Group firm Diesel.
The portal will not offer any discounts and cash-on-delivery.
Online retail segment is expected to be worth Rs70bn ($1.33bn) by 2015 from Rs20bn ($382.26m) at present, due to growing broadband availability and internet penetration, according to a report by industry body Assocham.
In addition to the online initiative, Joshi said Infiniti Retail is also expanding its store network.
The firm plans to set up another 14 stores by September to take the total count to 86.
Croma stores, which typically spread over 12,000-20,000ft², offers more than 6,000 products and 180 brands in eight categories: home entertainment, small appliances, white goods, computers, communication, music, imaging and gaming software.
Another Tata company, Trent, owns and manages a number of retail chains in India, including lifestyle chain Westside, hypermarket chain Star Bazaar, books and music chain Landmark, and family fashion store Fashion Yatra.
Image: In addition to the online initiative, Joshi said Infiniti Retail is also expanding its store network. The firm plans to set up another 14 stores by September to take the total count to 86. Photo: Tata Sons Ltd