Phygicart.com, Dubai-headquartered e-commerce and direct marketing firm, is foraying into India with an initial investment of Rs 100 crore.
Phygicart, which follows a hybrid method of combining digital and physical marketing, will flag off its India operations from Kochi on 8 July 2018. In India, the firm is being promoted by Kerala-based jeweller Boby Chemmanur.
The investment will be utilised to make our own products for which we are planning to set up an assembling unit in Ahmedabad. The company will also build its brand as well as tie up with other brands. It is also in the process of overtaking certain other brands.
The Rs 100 crore will be invested by Boby Chemmanur International Group.The India foray is a part of Phygicart’s plans to expand operational footprint across seven countries by 2022, including the US and Nepal, and to rake in USD one billion in turnover.