Source: ETRetail.com, Aug 07, 2017
New Delhi: Delhi-based Indian Tigers Group plans to invest USD 100 million (Rs 636.40 crore approx) in its sports e-commerce venture SportGeo over the next five years, its chairman today said.
“We are looking at creating specialised e-commerce stores. For Sportsgeo, we are coordinating directly with manufacturers to sell their sports products. At the launch, we have invested USD 5 million and from our internal accruals we plans to invest USD 100 million in next 5 years,” Indian Tigers Group Founder and Chairman, Pyush Dhingra said over phone.
Sportsgeo is offering products in 500 categories targeted at sports and fitness enthusiasts.
Dhingra said that the company’s investment will be mainly on expansion of reach in India, especially in rural areas, and marketing campaigns.
“The investment may be higher than USD 100 million but for sure at least USD 100 million will be made from our own resources. We will look at external funding as we grow. Sportgeo will look at reaching out to people in rural India by setting up kiosks etc so that even in those parts people are able to buy products from us,” Dhingra said.
Founded in 2000, Indian Tiger Group has diverse business portfolio covering sport goods, construction, players management, law firm, end-to-end logistics etc.
Dhingra said that the company will start overseas expansion from next year from countries like the US, select European countries, Australia, New Zealand etc.
“We will connect local sports and fitness manufacturers to sell their products online. We will expand online sales of other product segments as well because we want to give special space to each category stores. Plans for other segment will be firmed up and disclosed later,” Dhingra said.