eYantra creates 18 online stores for corporates The Hindu Business Line, 4 June 2007

eYantra Industries, a brand merchandising solutions provider, has announced it has created 18 Confix online brand stores for some of the leading corporate houses in India and plans to set up 100 of them by the current fiscal end.

The company has thus far partnered with TCS, Accenture, Tech Mahindra, Genpact, HCL Technologies among others which collectively employ about 7.2 lakh people.

These brand stores also offer services to employees of these companies located across the globe. The Chief Executive Officer and Founder of eYantra, Mr. Phani N. Raj, said that the company is targeting revenues of about Rs 25 crore from these online stores this fiscal of the total revenues of Rs 40 crore, which it expects to garner.

The rest would be through its other business.

Addressing a press conference here, Mr. Raj said that the company had earlier this year raised about Rs 10 crore and plans to invest about Rs 20 crore in the new textile unit the company is setting up in Hyderabad for captive consumption.

Last fiscal, the company had registered revenues of Rs 18 crore. The company has developed a technology solution Mertek, which helps create an online brand store in less than two minutes.

This provides access to employees of companies with whom eYantra partners. This technology solution has been filed for patent.

The Head Business Development, eYantra Industries, Mr. Ranjith Boyanpalli, said that such a large captive online user base of employees with high purchasing power provides the company the option to offer host of other products too, such as electronics goods and say even a high end Nokia mobile phone, at an attractive price.