New Delhi: Broadcast news network Television Eighteen (TV18) on Thursday said it will launch a home shopping channel and an online venture in collaboration with SB Asia Investment Fund (SAIF).
The TV18 Home Shopping Network (HSN) will leverage the TV18 network of five channels - CNBC-TV18, CNN-IBN, Awaaz, Channel 7 and SAW, and six internet properties-- moneycontrol.com, ibnlive.com, poweryourtrade.com, commoditiescontrol.com, yatra.in and Jobstreet India.
The organised shopping market is expected to become a $30-35 bn opportunity by 2010. With a changing socio-economic environment, higher disposable incomes, willingness to spend and availability of cheap credit, the share of organized shopping is all set to increase in the consumer’s wallet.
''TV18 believes that the time is ripe for a shopping enabler that integrates our media offering with a fulfillment capability. For the first time, by simply picking up the phone, clicking online, calling on their mobile, or simply sending sms for their requests, people will be able to access and buy products and services that exactly meet their requirements,'' TV18 CEO Haresh Chawla said.
''Although we typically do not invest in early stage companies, TV18 provides the company with the ability to quickly become a dominant force in the shopping space,'' SAIF partner Ravi Adusumalli said.
SB Asia Investment Fund is a 643 million dollar fund that is managed by Hong Kong-based SAIF Partners.
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