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CrazyPricing makes strategic investment in CafeGadgets
By siliconindia
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New Delhi: CrazyPricing Online Services, a Delhi based Information Technology and Consumer Electronics retail chain, has announced that it has made strategic investment to acquire majority stake in Cafegadgets.in, India's leading online retailer of cutting edge gadgets and gizmos for an undisclosed amount. Cafegadgets has a registered user base of over 1,00,000 customers.
Amit Sabharwall, COO, CrazyPricing Online Service said, "We are confident of our decision to invest in one of the leading Indian internet properties, CafeGadgets, which specializes in the sales of IT products and electronic gadgets online. The synergy between the two companies will provide us with an extremely targeted existing customer base as CafeGadgets enjoys an excellent mindshare amongst our target audience across the country."
CrazyPricing will also benefit from CafeGadgets' close association with the vendors in the IT products and mobile phones categories as it has already been representing many of the major brands as their online distributors for quite some time now. The vast experience of the CafeGadgets' team in merchandising and marketing online will also prove extremely helpful to CrazyPricing in making its presence felt and carving a niche for itself in the electronics retail segment in India.
Hitesh Dhingra, Business Head, CafeGadgets, said, "It is the most exciting development for us in recent times and we are confident that the association will augur well for both CrazyPricing and CafeGadgets. We will be able to strengthen our relationship not only with vendors but also with our customers and they will benefit from the amazing deals on their favorite gadgets even if they shop at the CrazyPricing stores slated to come up in many cities across India."
CrazyPricing plans to reinforce the reach of CafeGadgets' online shopping platform and will exclusively retail a variety of gadgets and consumer electronics products at various locations across India with CrazyPricing owned stores, franchisee and shop-in-shop outlets. The company plans to expand its operations in Delhi/NCR and Northern India in the first phase followed by a pan India roll out. The first CrazyPricing store has already been launched in New Delhi opposite Sri Venkateswara college and has proven to be an instant hit with the students.
CafeGadgets, one of India's largest technology and digital lifestyle superstores on the internet, is a business-to-consumer (B2C) portal. It is a one stop destination to buy Mobiles, Digital Cameras, Laptops, Desktops, iPods, Pen Drives and a gamut of IT products.