LYCOS (NSE:LYCOS | BSE:532368 ), one of the most widely recognized Internet brands, and Apollo International Limited, of the Apollo Group, signed an agreement to launch a joint venture to provide end-to-end solutions to global brands in deploying custom E-commerce platforms targeting Indian consumers. This venture will be known as Apollo Lycos Netcommerce.
LYCOS brings its global expertise in digital media, technology and marketing in setting up online presence for large brands globally; while Apollo contributes its expertise in logistics, inventory management and reverse logistics.
Apollo Lycos Netcommerce will design, develop and fulfil E-commerce, for brands online. It will enable and ensure a full-cycle fulfilment; right from setup, promoting their brands online, digital marketing of their products and services, driving engagement and sign ups, fulfilling orders, ensuring data security and consumer privacy, inventory tracking and management, order delivery and reverse logistics.
“The plan is to bring a unique digital shopping experience to Indian consumers, where they can interact directly with global brands they love.” said Raaja Kanwar, Vice Chairman and Managing Director of Apollo International Limited.
“We are aiming at providing an innovative service for big brands to enter India seamlessly.” said Suresh Reddy, Chairman & CEO of LYCOS.
Global online purchase intent rates have doubled from 2011 to 2014 for event tickets (41%), electronic books (34%), sporting goods (31%), toys and dolls (29%), videos/DVDs/games (28%), music (27%), pet supplies (21%), flowers (18%), cars/accessories (17%) and alcoholic drinks (17%). These rates have tripled in the same period for computer software (27%) and baby supplies (20%). India is projected to follow a similar trend.
Despite a phenomenal growth in the recent past, India is still not ranked in the global top ten in this business, while the business is expected to grow 6 times in the next 5 years to over 50Billion USD. Still over 90% of Indian retail business is offline and there is an increasing momentum for this to go online. Apollo Lycos Netcommerce aims to be a strong & trusted ally and a true partner to all the brands and leading merchants in India and abroad wishing to take part in this growth story.
LYCOS is one of the original and most widely known Internet brands in the world, evolving from pioneering search on the web, into a family of three business units covering digital media, marketing, and Internet of Things (IoT).
LYCOS Media is a network of easy-to-use community and social sites in 120 languages across 177 countries.
LYCOS’ award-winning products and services include tools for blogging, web publishing and hosting, online games, e-mail, and search. The LYCOS Network of sites and services include Lycos.com, Tripod, Angelfire, HotBot, Gamesville, WhoWhere, and LYCOS Mail.
LYCOS Advertising enables businesses, agencies, and online publishers worldwide in meeting their digital marketing needs, serving 40 billion impressions every month. Clients include leading blue chip advertisers like Airtel, British Airways, Coca-Cola, Hyundai Motors, ICICI Bank, ITC, ING, Lenovo, LIC, Maruti Suzuki, MTV, P&G, Qatar Airways, Samsung, Viacom, Sony, Star India, Vodafone, Titan, and Unilever. Publishers include Facebook, LinkedIn, MSN, Twitter, and Yahoo! LYCOS works with agencies like Havas Digital, JWT, Mediacom, Mindshare, Neo@Ogilvy, OgilvyOne, OMD, Satchi & Satchi, TBWA, and ZenithOptiMedia, to name a few.
LYCOS Life is the new consumer products division focussed on IoT. LYCOS Life is dedicated to the future of communication and information management in which everyday objects will be connected to the internet, also known as the ‘Internet of Thing’ (IoT).
LYCOS employs around 450 people working out of 24 offices worldwide, across the US, Israel, India, Western Europe, Australia and Latin America. For more information please visit www.lycos.com
About Apollo International Limited:
Set up in 1994, Apollo International Limited has led diversification strategy of Apollo Group into new business opportunities.
Led by Mr. Raaja Kanwar, AIL is headquartered in Gurgaon, India.
It is engaged in diverse business segments and has diverse operations spanning over 60 countries across Africa, Middle East, South East Asia, Europe and USA.
Trading – A well-known name in international trading business of Tyres, leather garments, general commodities & products.
Logistics business through its subsidiary Company Apollo LogiSolutions Limited (“ALS”) – Emerging as leading CFS and container handling service provider , with existing CFS in Panvel and Chennai and plans to create CFS/ICD facilities across key locations in the country. ALS, the flag ship company of the group has emerged as a leading logistics solution provider with operations across India and global markets. Along with its subsidiaries, ALS has been a leading provider of Freight forwarding, 3PL, Customs Brokering and end-to-end Secured Logistics solutions to a number of leading companies in India and abroad.
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behavior of financial and digital marketing industry, and fluctuations in exchange rates; from future integration of businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.