Former HomeShop18 CEO Sundeep Malhotra launches Renomania
HomeShop18's former CEO Sundeep Malhotra has co-founded a new online venture that connects users with professionals for home renovation, house building and interior designs.
He has teamed up with Attrash Aman (ex COO of HomeShop 18) and two others to launch Delhi-based Renomania India Private Ltd, as per details available on the company's website.
Navneet Malhotra and Ritu Malhotra, directors of AA Design Consultants, are the other members of the founding team.
Renomania seeks to be a platform that enables homeowners to get designs and professional support to build or renovate their home. The startup features a slew of home and interior design products. The platform also has a section where professionals can create an account and upload images of their products to connect with potential customers.
Presently, it features product images for kitchen, bath, living room, dining room, bedroom, decor, study and so on. The images are largely curated from individual home owners and third-party interior designers and architects. Images sourced from professionals come with the option of directly contacting the professionals.
Malhotra, who also the founder of HomeShop18, quit the company in May this year, nearly a year after the Mukesh Ambani-led Reliance Industries Ltd (RIL) took control of Network18 Media.
Network18 is a shareholder in various media businesses. It owns a significant stake in digital commerce ventures HomeShop18 and BookMyShow.
Prior to joining HomeShop18, Malhotra was the executive vice president- sales for PepsiCo India. He had a five-year stint with Benetton India, as its head-sales & marketing and a 10 year-stint with Bata India Ltd.
Aman was directly involved in setting up the entire sourcing and vendor management platform of HomeShop 18. Prior to that, he worked with Bharti Airtel for seven years where he was the VP & business head of its media & services wing.
According to market research firm TechNavio, the online home dÃ©cor market in the country is expected to grow at a compounded annual growth rate of 50.42 per cent between 2014 and 2019.
Renomania would compete with other startups such as Livspace, Intruo, JBR Interio, BedBathMore and Gloob. Online furniture players such as FabFurnish, Pepperfry and Urban Ladder besides horizontal e-commerce majors such as Flipkart.com, Snapdeal.com and Amazon.in also have a strong grip in this space.