Shop CJ eyeing AP, TS markets
Shop CJ eyeing AP, TS markets. Shop CJ Network Limited, a leading TV home-shopping player in the country, has now set its eyes on Andhra Pradesh and Telangana as a part of its efforts to increase contribution from the South Indian market which currently accounts for just 10 per cent of its total sales.
Hyderabad: Shop CJ Network Limited, a leading TV home-shopping player in the country, has now set its eyes on Andhra Pradesh and Telangana as a part of its efforts to increase contribution from the South Indian market which currently accounts for just 10 per cent of its total sales.
“At present, nearly 4 per cent of our total revenue is coming from AP and Telangana. But we are planning to increase the business here as cities like Hyderabad are key markets for us,” Kenny Shin, CEO, Shop CJ, told media here.
The company, which is a 50:50 joint venture between South Korean home-shopping major CJ O Shopping Co Ltd and Providence Equality Partners, clocked total revenues Rs 850 crore last fiscal. It has targeted a 30 per cent growth during the current fiscal.
“As of now, northern and western parts of India make prominent contribution to our revenues. One of the reasons for that is our promotional television content is in Hindu. To penetrate into South India market, we are going to bring out our content in regional languages,” Shin explained.
To begin with, the company will broadcast its content in Telugu and Tamil languages before doing the same in other South India languages. “We are testing the content and the process will be completed in the current fiscal. From next financial year onwards, we will go full steam, airing our content in the Telugu channels,” he said.
The company is expecting significant jump in sales across AP and TS once its content starts appearing in Telugu language. Also, it operates an exclusive channel, Shop CJ, which is available on major DTH and cable platforms.
