NDTV Ethnic gets funding boost from KJS group

NDTV Ethnic Retail, which operates NDTV group's e-commerce venture IndianRoots.com has got five million dollars (over Rs 31 crores) in funding from KJS group at valuation of 85 million dollars (Rs 540 crores) for the vertical. The company will utilize funds to build its logistics, marketing and delivery mechanisms.

NDTV launched its ecommerce business with Indianroots in July 2013, which focuses on Indian ethnic wear retailing products like women’s apparel that includes sarees, lehengas , salwar kameez and kurtis and men’s apparel including sherwanis , kurta pyjamas and jackets. It also offers accessories like jewelry, bags, wraps and others along with home furnishing and stationery products.

The company is said to have partnered with over 500 brands including AND, Aikya, Anouk, Bombay Dyeing, Indian Artizans, Tamaara Couture, TwoPeople India and Rang Banarasi as well as over 50 designers like Rajdeep Ranawat, Anita Dongre, Deepika Govind, Manoviraj Khosla, Rohit Bal and others. Company claims that United States is its biggest market followed by India, with its average order value reaching Rs 9,000, during the first quarter.