MUMBAI: Home shopping network Shop CJ, which has inked a marketing alliance with travel services company Thomas Cook, is eyeing turnover of Rs 1200 crore in FY 2016, which is a growth of almost 40 per cent.
Speaking to Indiantelevision.com, Shop CJ Network CEO Kenny Shin says, “We are poised to cross Rs 1200 crore turnover this year, recording a 40 per cent growth over sales of Rs 850 crore achieved in the last fiscal ended 31 December, 2014. Our channel reaches to more than 6.5 crore households in India and currently caters to about 40 per cent of the market.”
Through the marketing initiative undertaken by Shop CJ and Thomas Cook, the companies will showcase their ‘Holiday Savings Account.’
Earlier this year, the shopping network rebranded itself as Shop CJ from Star CJ Alive, which marked the conclusion of the treaty between CJ and Star. The transition has been smooth sans any glitches according to Shin.
“The transition has happened smoothly without any breakdown and we have continued our growth journey. We knew from the beginning that we have the strength to establish ourselves and I am happy to say that we are way ahead of where we were,” he informs.
Star CJ is planning to expand its base with multiple developments in various regions of the country. “Before the end of the financial year 2016, we plan to have our warehouse ready in eastern and southern provinces of the country. In the east, we are looking at Kolkata, which will help us deliver efficiently in the Northeastern states, while for the south we are yet to shortlist a place,” Shin says.
Not ruling out possible tie ups with established e-commerce ventures like Amazon.in, Flipkart etc, he however says, “In the future, we may go in that direction if we feel the need but at the moment, there are no such plans.”
Speaking about the tie-up with Star CJ, Thomas Cook (India) chief innovation officer & head – marketing and service quality Abraham Alapatt says, “Our Holiday Savings Account is a truly innovative product that allows customers to save, earn and travel! Its unique concept allows customers to save via 12 easy instalments while earning an attractive interest (via our Bank Partners Indus Ind, ICICI and Kotak Bank), with further benefits of a Thomas Cook top up on the 13th month and a zero exit penalty. Indeed a significant consumer empowering tool.”
Elaborating on the marketing association, he adds, “Our tie up with Shop CJ gives us access to its extensive network of high potential yet under leveraged travel hungry middle India. Our innovative Holiday Savings Account, is ideally suited to the informative format of Shop CJ’s electronic and online shopping platforms, ensuring visibility-reach, as also the personal touch of our Toll Free number for details and assisted transactions.”
“The home-shopping industry is growing rapidly in India and Shop CJ is expanding its market share by entering into a new segment to create a unique shopping experience for its consumers. Shop CJ, with a footprint of 75 million households will create great value for its consumers with Thomas Cook India’s unique and affordable Holiday Savings Account range of holidays. Travel is seeing impressive demand from Indian consumers and we bring to this partnership an audience, which is yet untapped by organized players in the Travel & Tourism industry,” Shin concludes.
