Two online retail companies merge

Indiaplaza.com, a Texas-based online retailing company merged with Fabmall.com, another online company. The merging of the two companies came with Fabmall.com's acquisition of the other for an undisclosed amount.The combined online retail company will run under the name of Indiaplaza.com. and will be managed from outside India. Logistics and operations will be based within India as well as in US. The online retail company will now have a workforce of 75 employees and a catalogue of 3.5 million products. Fabmall.com registered a growth rate of 30 per cent last year. In the next two years, the company plans to invest Rs 25 crore on marketing. According to Vaitheeswaran, CEO, gift items, books, mobiles and lifestyle products account for the maximum transactions. So far, one million people have transacted with the company.

Courtesy: EconomicTimes
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