Arise India forays into e-commerce space

Company reported a turnover of Rs 1,250 crore in the previous financial year

Electrical goods maker Arise India today forayed into e-commerce space with the launch of Arise One Stores as it targets Rs 1,550 crore overall turnover this fiscal.

The company, which makes pump sets, inverters and batteries, and home and kitchen appliances, reported a turnover of Rs 1,250 crore in the previous financial year.

"E-commerce in India is growing at a very fast pace and we decided to have our own presence. E-commerce will also help us reach our turnover target.

"We are looking Rs 1,550 crore turnover this fiscal. Being a customer centric company, we want to provide our consumers greater choices, convenience and cost-effectiveness and hence this foray into the e-tail sector," Arise India Managing Director Avinash Jain told PTI.

"For E-commerce, we have made initial investment of Rs 5 crore that includes IT infrastructure development as well as spreading ourselves digitally through internet marketing," he added.

When asked about the current contribution of online sales to the total turnover, Jain said, "Online sales at present contributes to about 2-3 per cent to the total sales. We expect it to go up to Rs 60 crore with launch of our Arise One Store."

At present, Arise sells its products through online marketplace portals like Snapdeal.com and Flipkart.com.