RattanIndia Enterprises (REL), a company that is building businesses in new-age sectors including electric motorcycles, drone solutions and fintech announced that it has operationalized its e-commerce foray by approving an investment of Rs. 350 crore in its wholly owned subsidiary Cocoblu Retail Limited (Cocoblu).
Cocoblu will be partnering with several big and small brands in India to bring them onto leading online platforms in the country. Cocoblu is committed to scale up local micro, small and medium manufacturers and help them build their brands and reach their true potential through digital channels. This provides a great opportunity for online retail in India devoid of complexities and capex of physical retail. Cocoblu seeks to be a dominant seller in multiple categories on these online retail platforms in the country, the statement said.
This funding will be utilized by Cocoblu to develop its business including creation of tech-enabled access to consumers for select brand owners/sellers on the platforms of leading e-commerce sites in India, a statement said.
Commenting on the occasion, Anjali Rattan Nashier, Business Chairperson of RattanIndia Enterprises Limited said, shared, “Cocoblu will be well-positioned to provide value to salient branaowners/sellers in India’s ever-expanding e-commerce landscape. Our investment of Rs. 350 crore is intended to give fillip towards creation of an all-digital approach to selling lifestyle offerings via leading e-commerce platforms. Through in-built solutioning we believe we have the right arsenal to facilitate a robust scale-up of their business while making accessible a vast consumption opportunity.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.