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Home shopping channel HomeShop18 has inked an agreement with KOTRA (Korean Trade-Investment Promotion Agency) and GS Shop, which will help small and medium Korean companies to enter the Indian market.
KOTRA, along with GS Shop, will jointly assist small and medium-sized Korean companies to enter the Indian market through HomeShop18, which will sell these products through its network.
“Though Korean firms represent a negligible portion of our sales now, but with this partnership, things will change. We will select the best selling products from these Korean firms and bring them to the Indian customers,” the HomeShop18 Chief Executive Officer, Mr Sundeep Malhotra, told PTI.
The company will bring in close to 8-10 different brands across categories like electronics, home and kitchen appliances, kitchen care products. “The partnership will bring in business anywhere between Rs 10-50 crore,” Mr Malhotra said.
HomeShop18 reaches to more than 10 million households across 3,000 cities selling over 450 established brands.
“HomeShop18 has opened up avenues for various small and medium-size Korean companies to promote their brands and products in India, one of the most rapidly growing countries in the world. We are happy to partner with HomeShop18,” Mr Cho Hwan Ik, President, KOTRA, said.
GS Home Shopping (earlier known as LG Home Shopping) is the world’s third largest home shopping network. In 2009, it had invested about $18.5 million (Rs 86 crore) in HomeShop18.
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