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Fabmart to add four more online stores; targets US, UK markets 

C Chitti Pantulu  
Hyderabad, June 8: Internet e-tailing portal fabmart.com will ramp up its operations from the present two stores to six more apart from kicking off overseas shipping to the US and UK soon.

``From impulse-based e-tailing we will now be going on to selling of need-based products on our site which we expect will bring in both the volumes and the value buying,'' K Vaitheeswaran, vice president Fabmart Pvt. Ltd, told eFE.

The site started off roughly eight months ago with an online store for music cassettes and CDs on-line and followed up with books subsequently. It claims to have 26,000 registered users to date of whom 13,000 have bought on the site while 30 per cent have them have repeated their purchases.

Fabmart will be adding on six more categories of products beginning with jewellery this month to be followed by groceries and provisions in July. It will be followed with toys, computers and garments in August, September and October respectively, he said.

While jewellery and other products will be available across most of the cities in the country, supply of groceries however will be limited to five cities.

``We are tying up the warehousing and logistics agreements with local grocers and transporters in these five cities which include Bangalore, Hyderabad, Pune and Chennai,'' Vaitheeswaran said, adding that the agreements would be on a revenue sharing basis.

Fabmart had gone in for its second round of funding of Rs 25 crore from Chrysalis Capital in May this year while it raised Rs 5.5 crore earlier from an unnamed venture capital fund.

``The second round of funding will take care of our investments over the next 18 months though the overseas shipping may call for some additional expenditure in working out the logistics in those countries,'' Vaitheeswaran said.

However, the company has been very careful with its ad-spends unlike many generic portals which have splashed their monies across every medium, he stressed, stating 70 per cent of Fabmart's expenditure had been on brand-building alone.Fabmart is also in the process of tying up with cybercafes across the country for e-tailing partnerships and promos, he added.

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

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