China’s Tiens Group To Foray Into The Indian Market By End Of 2016

China’s Tiens Group is set to foray into the Indian e-commerce market by the end of 2016. The firm plans to build a user base of one crore over the…

China’s Tiens Group is set to foray into the Indian e-commerce market by the end of 2016. The firm plans to build a user base of one crore over the next five years.

The e-commerce platform will allow the Indian consumers to buy products from different countries.

Founded in 1995, the company has branches in cities including Guwahati, Kolkata, Hyderabad and Mumbai and plans to expand to Chandigarh and North East region. It will be directly competing with US based Amway and Sweden  based Oriflame.

The company plans to produce 70% of its products locally, which ranges from  healthcare to personal care. It will also be hiring for management roles including accounting, human resources, IT.

[source]

Sign Up for NextBigWhat Newsletter

Daily.

You May Also Like

RBI: Taxing E-Commerce Can Boost State Revenue (Report)

RBI’s recent report on State Finances suggests that the rapidly growing ecommerce sector can boost the state revenue and is “an opportunity and a challenge for states.” The ecommerce and online business in India is booming in the recent years and is expected to grow exponentially (Goldman Sachs reports a growth rate of 15X to reaching $300 billion by 2030) but the ambiguity on the taxes the ecommerce have to pay remains.