Indian media house Hindustan Times has invested INR 16 Cr in the lifestyle brand, Tjori. The deal signed goes beyond equity investments while also providing extensive branding and marketing opportunities for Tjori.
The establishment with Hindustan Times will help the lifestyle brand build brand awareness in India and accelerate growth at the global level.
Founded in 2013 by Mansi Gupta, Tjori provides ecommerce services of lifestyle products from all across India and foreign markets too.
Speaking on the deal, Mansi Gupta, chief executive officer, Tjori, said in a statement, “We are excited to close this deal as it gives us an opportunity to reach a wider audience and present them with what Tjori has to offer. Tjori as a brand works at bringing the best of time- honoured crafts and wisdom with a modern twist. In partnership with HT and its various media channels, we will be able to put Tjori at the forefront of the fashion industry.”
Commenting on the investment, Piyush Gupta, chief financial officer, Hindustan Times added “We are pleased to announce our partnership with Tjori as it helps us venture into the ecommerce market. The deal is bound to bring an ocean of knowledge for all our readers, regarding the re-modernised way of traditional Indian goodness that Tjori strongly recommends and we as allies also believe in.”
The ecommerce sector has been one of the fastest growing sectors in the Indian economy for the past few years. ‘The Market Study On Ecommerce In India’ report highlighted that the growth in the ecommerce sector is fueled by the increased penetration of smartphones as well as the internet in Tier 2 and Tier 3 cities.
According to the report, ecommerce startups received a total of over $13.3 Bn in 904 funding rounds since 2009. Most funding in ecommerce startups took place in 2017, which saw a total of 124 funding rounds, valuing $3.5 Bn. Moreover, amidst an economy where physical interaction was absent, ecommerce remained in the lower spectrum of the affected sectors. It also accelerated the growth of the D2C sector in India in the last two years. This coupled with the technological reasons mentioned before have made ecommerce companies attractive investment opportunities.