Digital marketing solutions firm Lycos has formed a joint venture (JV) with Apollo International Ltd. (APL), an Apollo Group company, to provide end-to-end solutions to global brands in deploying custom e-commerce platforms targeting Indian consumers, according to a statement.
The JV will be called Apollo Lycos Netcommerce and will design, develop and fulfil e-commerce for brands online.
As part of the JV agreement, LYCOS will bring in its global expertise in digital media, technology and marketing in setting up online presence for large brands globally, while Apollo will contribute its expertise in logistics, inventory management and reverse logistics.
“The plan is to bring a unique digital shopping experience to Indian consumers, where they can interact directly with global brands they love,” said Raaja Kanwar, Vice Chairman and Managing Director of APL.
Apollo Lycos Netcommerce will enable and ensure a full-cycle fulfilment, right from setup, promoting their brands online, digital marketing of their products and services, driving engagement and sign ups, fulfilling orders, to ensuring data security and consumer privacy, inventory tracking and management, order delivery and reverse logistics, the statement said.
“We are aiming at providing an innovative service for big brands to enter India seamlessly,” said Suresh Reddy, Chairman & CEO of LYCOS.
Global online purchase intent rates have doubled from 2011 to 2014 for event tickets (41%), electronic books (34%), sporting goods (31%), toys and dolls (29%), videos/DVDs/games (28%), music (27%), pet supplies (21%), flowers (18%), cars/accessories (17%) and alcoholic drinks (17%). The rates have tripled for computer software (27%) and baby supplies (20%) in the same period. India is projected to follow a similar trend.
Despite a phenomenal growth in the recent past, India is not ranked in the global top ten in this business. Even as the business is expected to grow six times in the next five years to over $50 billion, still over 90% of Indian retail business is offline and there is an increasing momentum for this to go online.
Apollo Lycos Netcommerce aims to be a strong and trusted ally and a true partner to all the brands and leading merchants in India and abroad wishing to take part in this growth story.
Headquartered in Gurgaon, AIL is engaged in diverse business segments and operations spanning over 60 countries across Africa, Middle East, South East Asia, Europe and USA.
LYCOS is a widely known internet brand in the world, evolving from pioneering search on the web, into a family of three business units covering digital media, marketing, and Internet of Things (IoT). It was one of the early search engines along with Yahoo, AltaVista and others in the early days of the Web in the mid-1990s.