Godrej launches online store with Indiatimes

New Delhi:Consumer durables company Godrej Appliances on Tuesday announced its exclusive partnership with Times Internet's online shopping portal Shopping.Indiatimes.com to launch its first online store. Currently, Godrej Appliances sells its products through various multi-brand online portals.      Godrej Appliances is targeting Rs 15 crore annual sales through its online store with Indiatimes in the first year. It is targeting revenue of Rs 100 crore over the next five years through the Indiatimes online stores.      Godrej's decision to enter the online space comes with a view to tap the fast growing e-commerce market in India. "Given the increase in online shopping, Godrej was keen to reach out to its customers on the online platform. With our expertise in the best in class products space andindiatimes.com's expertise in the online retail space, we hope to bring greater value," said Kamal Nandi, executive VP, sales & marketing, Godrej Appliances.      "We have invested in our warehouse, last mile logistics and customer relationship management (CRM) infrastructure to support brands across categories. E-commerce is growing at a CAGR of over 50% and more brands are looking at entering online medium these days," said Subhanker Sarker, COO, Indiatimes shopping. The online store will be powered by Indiatimes shopping for delivering products. Godrej Appliances will handle the logistics and shipping through its 31 depots across the country. TNN