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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (918)	2/28/2000 9:02:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT Hindustan Lever to Enter E-Commerce hll.com pondsinstitute-india.com By Uday Lal Pai India Correspondent, asia.internet.com [February 28, 2000--MUMBAI] Hindustan Lever Ltd (HLL), a US$2.5 billion consumer goods giant, has unveiled ambitious Internet plans aimed at making HLL the leading e-tailer on the Indian subcontinent. HLL will soon be wiring up 7,000 stockists, and 90 clearing and forwarding (C&F) agents and innumerable retail outlets to meet the demands of its 500-million strong consumer base. The proposed e-com project comes close on the heels of parent company Unilever making its biggest investment in e-commerce through a 50:50 joint venture with iVillage, a new media company involved in developing innovative sponsorship and commerce relationships that enable marketers to reach out to women. According to D. Sundaram, HLL's director (finance), the company aims to strengthen its relationship with its existing base of consumers by expanding its Net operations. It has not yet been decided if the initiative should be through HLL or a separate outfit. "In e-commerce, physical fulfillment is very important. And that will be our biggest strength, given our network of 7,000 distribution outlets," said Keki Dadiseth, chairman of HLL, who has been nominated as a director and member of the executive committee. "E-Commerce will be embedded in everything we do," he continued. "It will allow us to unlock an opportunity worth US$326 million in working capital currently blocked with stockists and retailers." The company will connect 3,000 stockists, 30,000 retailers and 100 suppliers spread over 1,000 locations in the first phase of the initiative, which concern primarily the B2B leg of the effort. In the area of consumer connectivity, HLL has already made progress with its Pond's interactive Web site, and events on the Net such as the musically-inclined 'Close Up Antakshari'. Interactive kiosks for the Lakme and Pond's range of beauty products are being tested out in a few cities, enabling consumers to see what various products look like before they buy them.