Shop CJ Network Pvt Ld has launched Tamil home shopping channel today and plans to invest around ₹250 crore in the next two years for strengthening its presence.
Shop CJ is a joint venture between South Korea-based CJ O Shopping Co Ltd and the US-based Providence Equity Partners.
Speaking at the sidelines of the launch, Kenny Si Yeol Shin, Director and Chief Executive Officer, Shop CJ Shop CJ Network, said Tamil speaking population is one of the biggest markets in South India, which is one of the reasons for launching the Tamil channel as they have wider reach. The company will be directly partnering vendors and has tied-up with nine logistics partners for delivery.
Shin said that home shopping market accounts for about ₹3,000 crore in India and gives us a huge opportunity. “We have a market share of 30 per cent and gross merchandise value (GMV) was ₹850 crore last fiscal. With the launch of regional networks, we expect to increase the market share,” Shin said.
The company recently launched a Telugu channel in October 2015 and receives up to 30 lakh orders per month. Tamil and Telugu channels aside, the company has plans to launch two more regional channels in India and will invest around ₹500 crore in the next three years for expansion. Shin said, “After strengthening our presence in India we have plans to expand to Dhaka, Colombo and Dubai.”