SyberPlace.com elected Anup Garg as director on the Board
India based online retailer for consumer durables, SyberPlace.com appointed Mr. Anup Garg as the Director on the company’s Board. Mr. Garg is a man in his late forties with vast experience in financial management.
Mr. Garg has sharpened his financial skills by working as the Director of Andhra Bank’s Board where he looked after credit portfolio and capital restructuring of portfolio enterprises of the Bank apart from managing its finances. Mr. Garg had also served as the director on Canara Bank’s Board. He is an active member of Investors’ Grievances Committee of the Board as its chairperson. Before founding A. P. Garg & Company, which is an exclusive boutique firm of chartered accountants, he became a fellow member of the Institute of Chartered Accountants of India. Mr. Anup Garg likewise serves as the director on numerous companies’ Board.
Urvesh Goel, customer care Associate and chief executive officer, stated, “Anup brings with him relationships and a distinguished career of 24 years from capital structuring and corporate governance to the company. We are very pleased that he is joining the Board of SyberPlace.com His guidance in financial prudence and expense control shall be necessary for scaling the company to Rs. 4,000 crore sales in 2011 and achieve an enterprise valuation of Rs. 25,000 – 30,000 crore in 2012. Anup’s association with the company instills confidence in the investors and business partners about our ability to deliver on commitments.”
Mr. Goel concluded, “We have a robust plan and we are partnering with industry leaders to achieve the business goals set for the company, providing our customers an unparalleled buying experience.”
SyberPlace.com is an online retailer for consumer durables, in India: entertainment electronics, communications, computing, kitchen electrical appliances, air treatment equipment, and other domestic appliances.
The company is addressing a market opportunity of Rs. 128,000 crore with a business goal of 3% share: Rs. 4,000 crore sales in 2011. Through an investment of Rs. 200 crore in technology, they are targeting 1% penetration in a customer base of more than 20 crore PC internet users and 20 crore mobile internet users. The company is committed to provide the customer an unparalleled shopping experience: integration of business processes to enable a single-brand shopping experience, product comparison to assist buying decisions, live-order and service-request tracking, etc.