Reliance Trends’ CEO to kick-start e-retail biz

Thursday, 15 March 2012

CEO of Reliance Trends, Arun Sirdeshmukh has put in his papers to start his own fashion e-retail venture. Keeping in mind the growing e-culture, many biggies are eyeing the lucrative space. Sirdeshmukh, an apparel industry veteran—he helped build brands Louis Philippe, Van Heusen and Allen Solly for Madura Garments and co-founded Indus League Clothing, which was acquired by Future Group in 2005 -- has confirmed his plans of launching a fashion e-retail platform.

Sources say he is currently in talks with venture capitalists Lightspeed and Helion for funding options. Growing consumer interest in online shopping avenues, low start-up costs, easy availability of venture capital and high valuations of successful online ventures are some of factors that are inspiring several senior executives of top companies such as Bharti Airtel, Reliance Entertainment (Digital), eBay, IMG, Benetton, Naukri and Bata to quit their jobs to set up their own e-ventures.

Other examples of top executives who have launched their portals include Pepperfry, owned by Ambareesh Murty, former Country Manager of eBay India, Philippines and Malaysia, FreeCultr of Sujal Shah, previously VP and Head of Fashion at IMG India and, Zovi, Co-founded by Sartaj Mehta, Product Director of Benetton India.

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