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Kolkata-headquartered Primarc Group, operating in the retail and real estate sectors in the East, has announced its foray into e-commerce.
Under a special purpose vehicle called Primarc Pecan Retail Pvt Ltd, the company will retail books, toys, health, personal care items and gourmet products of major brands.
It will operate under the market-place model – as a fulfilment partner for brands – and will invest approximately ₹60 crore ($10 million) over the next two years in the online and e-commerce segment, it said in a release.
“We are investing into online space apart from the traditional brick and mortar retail. We are also partnering with various e-commerce platforms to offer a wide array of products. This move will help us to tap the rapidly growing online customer base & grow our retail business overall,” Sidharth Pansari, MD, Primarc Group, said.
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