Net Avenue Tech acquires HomeIndia.com

Chennai, July 17 (UNI) Net Avenue Technologies private limited today announced the acquisition of HomeIndia.com, the Mumbai based online fashion retailing store.

Addressing a press conference here, Mr Rajesh Nahar, Vice- President, Net Avenue Technologies, said the acquisition would seemlessly integrate the company's three businesses and would result in the inorganic increase in revenues and enhance the brand value of the company.

He said Net Avenue Technologies had expanded and established an ethnic apparel store under the brand name of Cbazaar.com and HomeIndia.com also offered a top of the line ethnic clothing with unmatched customisation options enabling customers to customise their clothing to suit their tastes.

"Their catalogue offers over 1500 designs to choose from and they offered a prompt delivery service worldwide. HomeIndia.com also offers jewellery and gifting services," Mr Nahar said.

The acquisition would result in the restructuring of the business model, he said adding the site would become an exclusive high end bridal apparel online store.

The gifting services would be offered by Chennaibazaar.com and the party wear and casual clothing line alone with jewellery collections would be offerd by Cbazaar.com, he added.

Purchases through any of these three sites could be done through nine different currencies, he added.

UNI