StyleAdda to have 3,000 suppliers

Taking advantage of the growing opportunities in e-commerce space, StyleAdda.com,

India’s largest upcoming online shopping mall has decided to pick up over 3,000 suppliers from different business categories to build the biggest supply chain network ever formed for an online store. StyleAdda.com will display over 15 million listed products when it will be formally launched in January next year. It will create a stir in a competitive market where large dotcom stores like flipkart, letsbuy and yebhi already have a strong presence.

The venture has already attracted private equity investors from Taiwan and Canada who may invest around Rs 98 crores in this mega project. However, the total development cost has already exceeded Rs 122 crores. Nedra Partners, a PE firm from Taiwan is in talks with the company to buy 11 per cent stake for Rs 43 crores valuing the project at Rs 390 crores.

As a part of its development plan, StyleAdda will have its own warehouses in major cities across India and will also set up its own logistic company. A budget has also been allocated for advertising campaign in an effort to reach out to a wide net-savvy audience. To clear the debt, raise funds and also to turn its business venture profitable, the company will go public immediately after the launch.