Groupon to launch e-commerce website in India

NEW DELHI, DELHI: To cater to the growing demands of ever increasing online customers, Rocket Internet — a key promoter behind Groupon International — will invest in a new e-commerce website next month.

This website will promote retailing of a wide range of Fashion & Lifestyle products showcasing both Indian and International labels, said a press release.

The new venture will be spearheaded by a founding team of three entrepreneurs — Lakshmi Potluri, Arun Chandra Mohan and Praveen Sinha — who come with extensive experience in investment banking, consulting and e-commerce industries.

The company firmly believes that e-commerce is on an all-time high in India and soon India will be among the top 10 e-commerce hubs in the world.

Access to 120 plus leading domestic and international brands, user friendly interface, ease of transaction with wide payment options including Cash on Delivery, free shipping to more than 550 key locations in India and access to end of season merchandise will be some of the key features of the website.

Speaking on the future of this venture, Arun Chandramohan, founding partner, said, “Our aspiration is to be the category leading e-commerce company in India. Having secured strong funding commitment, a top leadership team and a customer centric approach in how we operate, we are confident in our ability to reach market leadership position.”

E-commerce is the buying and selling of products and services by businesses and consumers over the Internet. Internet sales are increasing rapidly as consumers take advantage of lower prices and discounts offered by wholesalers retailing their products.