Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
With private equity firm Providence picking up 50 per cent stake in it, Star CJ is targeting a $1-billion revenue in five years. The home shopping channel recently replaced its partner Star with Providence, with the latter picking up the broadcaster’s equal stake in the venture.
US-based Providence has already invested in Indian companies such as Idea Cellular, Aditya Birla Telecom, UFO Moviez and Hathway Cable and Datacom.
Kenny Shin, CEO, Star CJ Network India, said: “Our new private equity partners have an IPO on their mind in the next five years when we expect to reach a revenue of $ 1 billion in India.”
Launched in 2009 as a six-hour television slot on Star Utsav, Star CJ started its standalone channel in 2014 extending it to internet and mobile channels. South Korea is the largest market for CJ Corporation followed by China with India as its third largest market.
Almost 49 per cent of its sales are from local brands with kitchen appliances comprising 20 per cent followed by other categories such as small appliances and IT products. Reaching out to destinations across 4,500 pin codes, the home shopping company is planning to improve its logistics by opening a new warehouse in the North-East.
“We have been growing at a CAGR of 50 per cent in the ₹2,200-crore home shopping market,” added Shin. Operating as a B2B company, Star CJ is in the wholesale cash-and-carry segment with franchise partners representing it at the front-end. “FDI in retail does not apply to us as we are not a retail company. We are a wholesale company in the cash & carry segment with five other franchise companies representing us in the retail space,’’ said Shin.
Today, almost 95 per cent of its revenue come from its television channel, but its internet site is growing faster and is expected to contribute between 10 and 15 per cent of the revenues going forward. Star CJ is in the process of breaking even and also changing its name without Star being attached to it.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
With initial public offerings galore, we give you a cheat sheet to score some good grades
Biggest risk in selling funds in a rising scenario is exiting early and missing out on further gains
Go for a standard vector-borne diseases policy if you don’t have a regular health plan
No credit risk is an attraction, but note the nuances
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
While Supreme Court has cleared the way for women seeking longer tenures and senior roles in the Indian Army, ...
Mughal Gardens in the Capital open to visitors — albeit with Covid-19 protocol — for the annual Udyanotsav
Salty, buttery, cheese coated or with maple syrup and bacon — popcorn is lending its adaptable self to gourmet ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor