Fabmall buys Indiaplaza.com
Fabmall.com an online retailing company has acquired Texas based Indiaplaza.com. Now combiendly they will operate under the name Indiaplaza.com. The business will be managed out of India and it will have operations and logistics both in India and United States. The company now will have strength of 75 employees with 2 warehouses one in Banglore (India) and another in Texas and a catalogue of 3.5 million products.
The acquisition will give the company a large customer base in the US as well as US based logistics and the vendor management system. The company will be benefited from the existing NRI customer base that Indiaplaza already had. Fabmall hopes to tap business from 20 million NRIs all over the world. The US alone has one million Indians living there. Every year, they are expected to gift products worth at least $100 each to their relatives here, which translates into business worth $25 million.
The acquisition will give the company a large customer base in the US as well as US based logistics and the vendor management system. The company will be benefited from the existing NRI customer base that Indiaplaza already had. Fabmall hopes to tap business from 20 million NRIs all over the world. The US alone has one million Indians living there. Every year, they are expected to gift products worth at least $100 each to their relatives here, which translates into business worth $25 million.
Last year Fabmall registered the growth of 30 percent quarter on quarter in revenue and the company plans to spends 5555555 US $ on marketing in the next 2 years.
Maximum numbers of transaction are gift items, books, mobiles and lifestyle products. One of their fastest moving categories is jewelry and home appliances.
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posted by Look Topper at Friday, January 19, 2007
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