Tata CLiQ to foray into newer categories, launch e-wallet next year
Tata Group’s e-commerce arm Tata CliQ will enter into newer categories and also launch its own e-wallet in the coming year to drive the next phase of growth for the company, said a top company official.
Tata CliQ which aims to become the country’s largest omni-channel platform will scale up its operations by adding newer categories like jewellery, home furnishing and take its brand count to 120. The company expects to break even in the next 3-4 years.
Currently, the etailer sells only fashion and electronics on its platform. It focuses exclusively on fashion & luxury selling brands like Hugo Boss, Armani Jeans, Coach, Furla, Michael Kors, Armani Exchange, Westside, Titan, FCUK, Police, Esprit, Metro, Vero Moda, ONLY among others.
“We are currently in a growth phase and focus is on building brand, omni-channel relationships and traffic. A total of 800 plus brands across electronics, fashion, shoes, watches, kids and luxury sell through the marketplace. E-wallets will be launched since they account for almost 20% of online payments. Our wallet will, however, be used only to enable customers to pay on our site and get refunds, though we could look at extending it to our omni channel partners in future,” Ashutosh Pandey, CEO at Tata UniStore, was quoted as saying by the Economic Times.
The company is expected to post strong results in the coming quarter following a good festive sale period in which it witnessed a 25 percent rise in overall sales.
Tata Group had entered the online retail with e-commerce portal TataCLiQ last year. The firm has more than 800 curated brands across various categories, with over 50 brands exclusively available on the portal. Through partnerships with over 50 brands, TataCliq.com has managed to integrate around 1,000 stores as part of its phygital network.
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