Paytm a digital wallet e-commerce company whose holding company Alibaba has invested in its new entity Paytm Mall, a portal which specifically deal with brand authorized stores and structured categories has been launched.
Alibaba who owns 40% stake in Paytm, made a deal worth $200 Million to make its first step in the Indian marketplace by launching Paytm Mall. Paytm Mall runs on the line of Tmall (Taobao Mall) a website for Business to Consumer online retail spun by Alibaba.
Consumer will gain a new concept of shopping with mall & bazaar, 68Mn varieties of products and 140,000 sellers in the portal. There are 17 fulfilment centres opened for the operation. The products ranging from FMCG, Electronics & high fashion brand will cover the website, defined quality and certified products assured.
“Consumers would continue to get the largest assortment of domestic & international products through Payton Bazaar, which will also be featured on the new App” said V.P, Paytm, Saurabh Vashistha .
“Payton would play on Alibaba’s strength. For products the company would bring in sellers from Lazada, sellers from other countries as the Chinese major’s ties in US & Europe. The operations would be 10 times of what Paytm’s operations are right now in the next two years” said a person familiar with the development.
As Indian e-commerce firms saw numerous failure in the past, Alibaba move to take its first step in Indian marketplace would be worth challenging. Flipkart & Amazon are the leading portals with their Millions of products on the website, it would be a tough competition for Paytm Mall.