Your Own Online Maketplace
Having their own online marketplace is what the large conglomerates are after.
Economic Times reports the Tata Group is set to board the ecommerce bus with the launch of its online marketplace by the end of this month. Called 'Tata CLiQ', the marketplace will integrate the online experience with omnichannel support at brick-and-mortar stores. The business to be launched by new arm Tata Unistore, will initially focus on apparel, electronics and footwear. "The 'Q' in the logo represents a magnifying glass - a visual representation of the brand's focus on curating only the best brands and products," said Ashutosh Pandey, chief executive officer, Tata CLiQ.
The salt-to-steel conglomerate with combined sales of $108.78 billion has a presence in the retail segment through its arms Trent, which operates the Westside and Landmark chain of lifestyle stores, and Infiniti Retail, which operates the Croma chain of multi-brand electronics stores. In addition, the group also owns the Titan watch brand and jewellery company Tanishq. The Tata Group's entry follows online forays by several established conglomerates. Last week, Arvind Ltd launched its omni-channel platform NNNow.com. Last month, Reliance Industries launched an online fashion retail platform called Ajio, while the Aditya Birla Group launched abof.com six months ago.