Stylehistreet.com plans alliance with StyleAdda.com

Stylehistreet plans to partner leading e-commerce companies to grow rapidly. End Quote

(1888PressRelease) August 23, 2012 - Stylehisteet, India's first upcoming jewelry marketplace a brainchild of Divya Chugh an accomplished jewelry designer has planned an alliance with StyleAdda, another upcoming online India's largest online shopping mall.

StyleAdda raised INR 60 crore or US $11 million on Exhilway Private Capital Market (EPCM) and the management plans to launch the online shopping mall shortly.

"Stylehistreet has some big plans and an alliance at this stage can prove mutually beneficial, if executed well," said Jagdish Agarwal, CFO of StyleAdda. Stylehistreet's spokesperson P.M.Chugh said "We are overjoyed with the announcement of this alliance, we are confident that together we will capture a large chunk of India's online jewelry market.

Stylehistreet will compete against leading Indian e-commerce websites like bluestone and caratlane. StyleAdda has agreed to showcase Stylehistreet's products on its website and distribute few designs via its offline supply chain network.

Styleadda will help Stylehistreet's products to reach some of the leading fashion outlets nationally and internationally. Stylehisteet also plans to add some online franchisees in India to penetrate deeper into the market and to grow at a rapid pace.

Stylehistreet will raise close to INR 6 crore on EPCM soon and plans to launch the project by the year end. Divya Chugh, the lady behind Stylehistreet plans to partner over 1000 designers.

"The startups who neglected startups as an opportunity are now waking up to the opportunity. The key equation driving e-commerce is customer oriented approach. The customers who shop over the internet is sensitive to price and quality and any organization which can play well with these two requirements can build a great brand overnight," said William Griffin a former employee of Amazon.com.

In India investors have moved their interest into the e-commerce companies who can make it big in a short time. Investors are confident that e-commerce startups can grow between 100-150% annually.

Stylehistreet.com is currently valued at INR 34 crore and StyleAdda.com valuation is INR 2666 crore on EPCM.

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