Entrepreneur Raj Kundra and actor Akshay Kumar have partnered to launch Best Deal TV, a celebrity-driven 24/7 Home shopping Channel. This announcement was made at a press conference today in Mumbai. The channel will be on air nationwide from March 18 onwards; this is a free-to-air channel that will be available across all major cable and DTH platforms as well as online.
The channel is positioned as the first celebrity-driven TV Commerce channel in India and is said to have inked endorsement deals with major A-list celebrities and top TV stars in the country. The products available on Best Deal TV are categorized into Lifestyle, Home, Fashion, Health & Beauty.
According to media reports the channel has ventured into a Rs 13,000 crore Indian home shopping market on television. Kundra has also sold 15% stake in the raised Rs.32 crore for the 24x7 home shopping channel to a private equity firm. Media reports also suggest the transaction values of ‘Best Deal TV’ at Rs.260 crore.
Speaking at the launch, Raj Kundra, Founder CEO, Best Deal TV, said, “We are pleased to launch a new and unique home shopping channel on which our products will be exclusive, aspirational and above all, affordable. All products will go through our vigorous Quality Lab tests before obtaining approval. Today most brands rely on celebrities to sell their products. Best Deal TV offers the perfect combination – of quality products and celebrities endorsing them on the same platform. To me, it is the perfect example of a ‘Product-Celebrity Match’. We match quality-approved products with celebrities, and by controlling the end-to-end supply chain we ensure savings for our customers that guarantee they, literally, get the Best Deal.”
Co-owner, Akshay Kumar elaborated, "When best deal first came to me with the idea of a home shopping channel the first thing I wanted to be sure about is that if my name is going to attached to something, it has to be for something unique, never done before by a celebrity, and a quality which is worthy of my 100% - as I don't put less than a 100% in anything I do.I am happy to say that for the first time, consumers will be able to fulfill their celebrity style aspirations as far as their look and feel is concerned at very affordable prices."
According to recent industry reports, India is the third largest television market in the world and TV penetration in the country is over 60 per cent. It is believed that this is only set to grow at a CAGR of 24 per cent annually. Meanwhile the home shopping industry is presently valued at `40 Billion. Best Deal TV aims to leverage the potential of these two platforms.