TV 18 to launch home shopping network

Television Eighteen India (TV18) announced plans to launch the country's first fully integrated home shopping network (HSN).

According to a release issued by TV 18 to the BSE today, the group has secured initial funding from SAIF Partners, a leading Asian private equity fund.

"The TV18 HSN will leverage the TV18 Network of 5 channels - CNBC-TV18, CNN-IBN, Awaaz, Channel 7 and SAW, and six internet properties - moneycontrol.com, ibnlive.com, poweryourtrade.com, commoditiescontrol.com, yatra.in and Jobstreet India. Collectively, the HSN will have a pool of more than 70 million adults to tap into - people who are very loyal to the TV18 brands and are decision makers with the ability to spend," the release added.

Haresh Chawla, CEO of TV 18, said: "TV18 believes that the time is ripe for a shopping enabler that integrates our media offering with a fulfillment capability. With an existing franchise of over 70 million adults that TV18's media properties reach out too, and the potential universe of affluent middle class Indians, it is only a matter of time before TV18 attains a dominant position in this space."