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Den Snapdeal TV Shop targets sales of Rs 5 bn by Dec
MUMBAI: Den Snapdeal TV Shop, the 50:50 JV between e-commerce company Snapdeal.com and cable TV distribution network Den Networks, has announced that the business is witnessing 50 per cent month-on-month growth.
Moreover, the tele shopping channel plans to do a gross merchandise volume (GMV) of Rs 5 billion by December this year.
Launched on the Den Networks with an initial reach of 13 million homes, Den Snapdeal TV Shop has increased its footprint to 30 million homes across several other distribution partners, mainly large and regional cable operators. The company claims to be gaining momentum due to the credible shopping pattern established by its parent brands.
Den Snapdeal TV Shop has products ranging from electronics, mobiles, kitchenware, home appliances, men’s apparel, beauty and personal care, health and nutrition, cameras and accessories, toys and contemporary jewellery through its home shopping channel.
Den Snapdeal TV Shop CEO Maneesh Goel said, “It has been an exciting and eventful journey for us so far. Our business was started to optimally utilise the synergies of both the brands and gain advantage vis-a-vis other players in competition. Through its online marketplace platform, Snapdeal.com is able to cater to the internet audience in the country which stands at approximately 200 million. There are over 400 million people (100 million households) in the country that consume content through television but may not have access to the internet and hence the reason to launch a TV shopping channel.
“Presently, the unique and finest product offerings from Den Snapdeal TV Shop has reached 30 million households and we expect to reach 80 million households by this Diwali. Den Snapdeal TV Shop hopes to gain further momentum and achieve its estimated target by December 2015.”