Tata Unistore’s losses increase

Tata Unistore’s net losses have widened over 18 per cent. The considerable amount of capital infusion and operational expenditure Tata Unistore has undertaken in the past few years has resulted in the losses. However, with Indian consumers accepting e-commerce, it expects robust growth and better financials on a year-on-year basis. With a clear regulatory regime evolving in the e-commerce segment, the company expects a more efficient business environment and improved consumer confidence in the coming financial year.

Tata Unistore owns and runs the three-year-old e-commerce venture Tata CLiQ. This has yet to scale up. The portal was launched in May 2016. The Q in the logo represents a magnifying glass – a visual representation of the brand’s focus on curating only the best brands and products. Tata CLiQ sells products across categories such as apparel, footwear and electronics. It plans to add more categories and brands. The venture seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors. The website was developed over a year-and-a-half at a cost of several hundred million dollars to be a marketplace for in-house and partner companies to sell apparel and electronics. It’s moving toward strengthening its footprint in the Indian e-commerce space.