LYCOS , leading Internet brands, and Apollo International Limited, of the Apollo Group, signed an agreement to launch a joint venture to provide end-to-end solutions to global brands in deploying custom E-commerce platforms targeting Indian consumers. This venture will be known as Apollo Lycos Netcommerce.
LYCOS brings its global expertise in digital media, technology and marketing in setting up online presence for large brands globally; while Apollo contributes its expertise in logistics, inventory management and reverse logistics.
Apollo Lycos Netcommerce will design, develop and fulfil E-commerce, for brands online. It will enable and ensure a full-cycle fulfilment; right from setup, promoting their brands online, digital marketing of their products and services, driving engagement and sign ups, fulfilling orders, ensuring data security and consumer privacy, inventory tracking and management, order delivery and reverse logistics.
“The plan is to bring a unique digital shopping experience to Indian consumers, where they can interact directly with global brands they love.” said Raaja Kanwar, Vice Chairman and Managing Director of Apollo International Limited.
“We are aiming at providing an innovative service for big brands to enter India seamlessly.” said Suresh Reddy, Chairman & CEO of LYCOS.
Global online purchase intent rates have doubled from 2011 to 2014 for event tickets (41%), electronic books (34%), sporting goods (31%), toys and dolls (29%), videos/DVDs/games (28%), music (27%), pet supplies (21%), flowers (18%), cars/accessories (17%) and alcoholic drinks (17%). These rates have tripled in the same period for computer software (27%) and baby supplies (20%). India is projected to follow a similar trend.
Despite a phenomenal growth in the recent past, India is still not ranked in the global top ten in this business, while the business is expected to grow 6 times in the next 5 years to over 50Billion USD. Still over 90% of Indian retail business is offline and there is an increasing momentum for this to go online. Apollo Lycos Netcommerce aims to be a strong & trusted ally and a true partner to all the brands and leading merchants in India and abroad wishing to take part in this growth story.