IndianRoots secures $5 million from KJS Group

NDTV Maiden e-commerce venture IndianRoot.com has concluded a fresh round of $5 million from KJS Group at valuation of $85 million. NDTV had achieved gross merchandise value (GMV) of Rs 61 crore in the year ending March 31, 2015 a 12x jump over previous year.

Launched in July 2013, IndianRoots showcases over 100 designers and 700 plus brands on its curated online marketplace. India and USA are the largest market with a worldwide customer base.

NDTV Co- Chairperson Prannoy Joshi said “With the fresh investment in the business and the complete backing of the NDTV Group, IndianRoots will push harder in achieving their plan for the year. We look forward to our partnership with the KJS group in strengthen the IndianRoots venture”.
IndianRoots ensure that artisans who were exploited by middlemen cuts through this layer to ensure a fair price to both artisans and the customer. While some of the biggest name are associated with it Sabyasachi, Rohit Bal, Neeta Lulla, Meera, Muzzafar Ali and Anita Dongre among several others. USA, the UK, India, Canada, Australia, the UAE and South Africa are the biggest market for the company.

Even though they have a good reach in Indian market but they aspire to reach the foreign market and to be at the international par.

Speaking about their investment, Kamaljeet Singh Ahluwalia, Chairman of KJS Group, and Karanpal Singh, Director of KJS Group, said, “Given our interest in the e-commerce sector, partnering with a respected and credible organization such as NDTV was the obvious choice for us. The clear positioning of IndianRoots and its achievements in the Indian fashion domain, we are confident that the business has a great growth story ahead.”