Kaka Group (one of the largest carpet exporters in the world) entered in the e-Commerce industry with the launch of its new self-funded venture Royzez.com, an online shopping portal. The Group will also invest around Rs100 crore in the venture this fiscal year.
The e-tailer is offering different range of products with features for buyers such as personal manager, same day dispatch and quality checks. Royzez currently has over 200 sellers and 50,000 products listed on its platform.
Speaking at the launch Royzez.com's Chief Visionary Officer, Nitish Roy said, “I am delighted to be here today to officially launch my dream venture, Royzez.com. The idea of starting Royzez.com comes from the commitment of targeting, the right customers at the right time to give an edge to my entrepreneurial journey.”
E-Commerce in India has been growing at a blazing pace, driven by affordable smartphones and increasing Internet penetration.
According to Internet & Mobile Association of India (IAMAI) estimates, the overall Indian e-Commerce market, of which e-tail is a segment, is currently worth $16 billion. The e-tail market in India is expected to grow 10 times from its current level to $50 billion by 2020.