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Business News/ Industry / Retail/  Rocket’s Printvenue eyes Australian market
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Rocket’s Printvenue eyes Australian market

Over the next four-five years, Printvenue plans to venture into Europe and Latin America, says its co-founder

Printvenue plans to start operations in Australia in the next 10 days with a team of 20 people in marketing, content and sourcing. Premium
Printvenue plans to start operations in Australia in the next 10 days with a team of 20 people in marketing, content and sourcing.

New Delhi: Online portal for personalized printing Printvenue.com is looking to expand its international presence at a time when the parent group Rocket Internet, the German venture capital firm, inches close to its initial public offering by the end of this year.

Printvenue plans to start operations in Australia in the next 10 days with a team of 20 people in marketing, content and sourcing. It will soon be seen in Asia-Pacific region such as South East Asia and Middle East, too, the firm said.

Over the next four-five years, Printvenue plans to venture into Europe and Latin America, said Saurabh Kochhar, co-founder and managing director, Printvenue.com. Earlier this year, the company had entered Singapore where it operates with a small team.

“Any country we enter we start the operations with a million dollar," said Kochhar. “After Singapore natural extension for our business was Australia where there is no competitive environment."

The company says customized printing and sourcing personalized gifts online is an expensive affair in Australia.

Earlier this month, German venture capital group Rocket Internet decided to take online fashion retailer Jabong.com to a global platform by merging it with four other such businesses in Latin America, Russia, Middle East, South East Asia and Australia to create a company worth €2.7 billion.

Jabong, which is looking to bring international flavour to its India offerings, has also opened an office in London where a team of 15-20 people will design its private label. The firm says it is in talks to open another design office in Europe, details of which are yet to be disclosed.

Industry experts say for Rocket Internet taking portfolio companies global was always on its agenda although timing of these announcements are linked to the upcoming IPO. Its global online food ordering firm, Foodpanda, is continuously expanding into developing markets; Foodpanda is present in more than 45 countries across Asia, Africa, Eastern Europe, Middle East and Latin America.

Rocket Internet is looking to create the largest Internet empire outside the US and China. It wants to replicate the success of Amazon and Alibaba in places where the US and Chinese e-commerce groups are yet to capture.

“Clearly they want to raise capital through the IPO for these companies and they want to show that they have global operations in the emerging market and that they have a platform in those markets to capture marketshare," said Harish H.V., partner, Grant Thorton India LLP. “However, given Rocket has many assets in different markets, we might see more consolidation from the company before it goes for public listing."

Printvenue, which currently sources products from India and ships to customers in India and abroad, eventually plans to set up local businesses in countries outside India. “By the end of next year, we will have three fulfilment centres, one in India and rest in other markets where we have operations," said Kochhar.

The company is growing at 25% month-on-month in Singapore and has fulfilled more than 20,000 orders since the launch in January this year.

Gurgaon-based Printvenue, which began operations in 2012, is an online portal that enables ordering stationery, business cards, letterheads, cardholder and other customized printing and personalized gifts; it faces competition from the unorganized market and global giants like Vistaprint.

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Published: 18 Sep 2014, 12:36 AM IST
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