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Unpaid vendors, plummeting sales: Can HomeShop18’s obscure new promoter solve its cartful of problems?

For India’s first 24-hour teleshopping channel that was once the fifth-most visited e-commerce portal and commanded a valuation of USD360 million, the fall has been nothing short of dramatic. Its new promoter Skyblue Buildwell faces a number of challenges in putting growth back on track.
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26 Jun 2019 10 Mins Read 0 comment
The country's largest teleshopping network has been sold by former owner Reliance at a paltry valuation. Getty Images
The country's largest teleshopping network has been sold by former owner Reliance at a paltry valuation.
On the morning of June 7, hundreds of vendors of teleshopping company HomeShop18 (HS18) woke up to a rude surprise. The company, whose management they had been chasing for months to get their overdues cleared, was now majority owned by a little-known real-estate company. Skyblue Buildwell had acquired an 82.64% stake in TV18 Home Shopping Network, a small press
Industries did not elicit any response, while calls and text messages sent to Manish Kalra and Gurvinder Singh remained unanswered. ( Disclaimer: The Times Group, which owns ET Prime, has interests in e-commerce. Parts of its media business compete with HomeShop18’s earlier owner Network18.) ( Graphics by Abdul Shafiq) (*The story has been updated with this comment)
On the morning of June 7, hundreds of vendors of teleshopping company HomeShop18 (HS18) woke up to a rude surprise. The company, whose management they had been chasing for months to get their overdues cleared, was now majority owned by a little-known real-estate company. Skyblue Buildwell had acquired an 82.64% stake in TV18 Home Shopping Network, a small press Industries did not elicit any response, while calls and text messages sent to Manish Kalra and Gurvinder Singh remained unanswered. ( Disclaimer: The Times Group, which owns ET Prime, has interests in e-commerce. Parts of its media business compete with HomeShop18’s earlier owner Network18.) ( Graphics by Abdul Shafiq) (*The story has been updated with this comment)

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