ZMCL’s entry in e-commerce and TV home shopping
In February 2016, ZMCL had acquired 80% stake in India Today group’s loss-making e-commerce and TV shopping entities Today Merchandise and Today Retail Networks for Rs 165.78 crore (Rs 1.66 billion) in tranches spread over four years.
As part of the transaction, ZMCL initially acquired 49% stake in the companies by investing Rs 39.78 crore (Rs 397.7 million) at par value with a managerial and operational control over the two companies.
Subsequently, ZMCL will increase its stake to 80% by investing up to Rs 126 crore (Rs 1.26 billion) over four years, subscribing for any security convertible into equity shares of TMPL and TRNL, at par value.
The company will launch the home shopping channel directly while e-commerce website, which is already live, has been launched through a subsidiary, EZ-Mall Online.
EZ-Mall Online has already commenced its business operations by launching an e-commerce website ezmall.com. ZMCL has already invested approximately Rs 4 crore in EZ-Mall.
According to the information on ezmall.com, it is a start-up funded by Essel Group that pioneers in video-driven commerce. It aims to enhance the shopping experience by helping shoppers discover the latest products and trends through our product videos and our expert tips.
The website has six key product categories including beauty, fashion, jewellery, kitchen, and electronics. Currently, only the desktop version of ezmall.com has been launched.
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