Indiamart To Launch Online Retail Marketplace Tolexo & Raise $100 mn

Online B2B marketplace for small and medium businesses, Indiamart is now venturing into online retail marketplace through Tolexo.com. Before you start making guesses, Tolexo isn’t yet another competitor for Flipkart and Snapdeal. The company says that they will be selling a different category of products.

Registered as a separate entity Tolexo Online Pvt Ltd. the service will go live in about five weeks. Word is that it might sell home, office and industry supplies (via).

IndiaMART

Backed by Intel Capital and Bennett & Company Ltd, Noida-based IndiaMART is an online listing platform for small and medium businesses. It attracts over 1.6 million visitors with daily 9.3 million page-views. It has over 1.5 million registrered users.

IndiaMART lists sellers from in categories ranging from cosmetics to industrial design, clothes, auto parts and pharmaceuticals.

With Tolexo, the company wants to make its service more easily accessible to both the consumers and sellers. The co-founder and director of Indiamart.com, Brijesh Agrawal has stated that Tolexo won’t be competing with Flipkart and other similar e-commerce sites.

Tolexo will likely sell basic hardware to furniture to auto-parts. Many of these products will be exclusively available on the site. Though, when asked by LiveMint, Agrawal declined to comment on the categories.

How is Tolexo different from Flipkart?

As of now, most of the e-commerce services are offering the same set of products – electronics, books and apparel. Agarwal says that Tolexo will be focusing on things that no one else is offering. “Everybody is busy serving what is probably the ‘hottest’ category at the moment and the kind of fight these companies are giving each other is making the whole business proposition unviable”. However the company could expand later on.

How hard will it be for Tolexo to set things up?

Since IndiaMART already maintains a large merchant base, it won’t have to spend much money on attracting sellers, believes Subho Ray, President of the Internet and Mobile Association of India. But at the same time, with Tolexo, the company will need to assess the consumer-based needs more effectively.

Agarwal expects Tolexo to raise about $100 million over the next two to three years.

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  1. I have been imagining since long that one day, on-line portals like Flipcard & Amazon will be launched for selling industrial product like Europeans & Chinese sell. However in India, our industrial products are not yet standardized and applications are different and so are the technical specifications and hence the prices. Industrial products that can be sold on line can be only those products viz. technical instruments, V belts, gaskets, pulleys, bearings and many more such products. But again I can see a problem and that is Flipcard & Amazon are doing on-line business from home whereas industrial products will be dealt by the industries where there is a purchase department who does not have freedom to buy on-line industrial product like the freedom a home-maker or family man has for buying domestic product. So taking such decisions to buy industrial product will be difficult till the time there is a revolution in the culture of buying industrial products. I think success ratio of India-mart will be limited only upto shopkeepers of Chawri Bazaar in Delhi or may be Harola Market in Noida who are selling such products but mind that such people are not very well educated. So I think the business for India- Mart and the industry will be very very limited.

  2. I am Shantanu Mukherjee CEO of Green Planet Technologies (GPT-India) dealing in Dust Extraction, Fume Extraction, Air cooling systems etc and our Websites are: http://www.dustcollectorindia.com & http://www.gpt-india.com. We have been very successful in bringing our company to getting recognized in the industry to be a prominent supplier for Air Pollution control systems solely because of our long relationship since 2007 with M/s. India-Mart. I request Mr. Brijesh Agarwal to propose additional filters for products we are selling viz Dust Extraction systems, Air cooling systems etc. like the way Amazon filters all products. May be initially a platform can be made where few of the competitors’ products can be filtered w.r.t. Air capacity, filtration area, pressure, Kilowatt & many other specs & then the prices for initial comparisons for negotiation required by the buying houses. Reputation of the seller should also be of prime importance and the product should be popular in the market. Once the filtration is made then final purchase can either be made on-line depending upon the complications of specifications or there should be a way for extending it down to the customer’s premises for taking decisions. The objective here is to save valuable time of the customer in sourcing the product and also to enhance comfortability in taking decision.

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