StyleAdda.com To Donate 2% Of Its Net Profit To Being Human

Online, November 24, 2011 (Newswire.com) - StyleAdda.com, India's largest upcoming online shopping mall will donate 2% of its net profit to the superstar Salman Khan's Being Human, a not for profit charitable foundation. This donation by far is the biggest donation by an online retailer in India. Being Human supports the cause of underprivileged with core focus on education and healthcare and is already being supported by many corporates.

StyleAdda.com which is scheduled to be launched in January is looking at a yearly turnover of US $500 million or INR 2,615 crore. StyleAdda.com will donate from its profit and will also retail Being Human merchandise. If all calculations fit in place StyleAdda.com may contribute US $1 million or INR 5.2 crore annually.

"In earlier days the focus of every business was to earn profits, now the trend is changing. Now your customers want you to be socially active. The summary is helping others is in trend," said Garima Malhotra, Chairman of StyleAdda Retail India.

More than a charitable foundation Being Human has evolved as a brand as Salman Khan loves to flaunt Being Human's merchandise at public places. Being Human's T-Shirts are so popular among the Indian youth that the fake versions are readily available in most of the clothing markets in India at halve of the original prices.

"Salman Khan is a natural actor and an original person. When we finalized donating 2% of our net profit to the Being Human we have not evaluated the impact of this move on our financials," said Rahul Malhotra, Vice Chairman of StyleAdda Retail India.

StyleAdda.com is investing close to US $29.06 million or INR 150 crore in its online mall and targets to draw attention of over 15,000 unique website viewers. StyleAdda.com is already an eye candy of private equity investors in India which has valued the yet to be launched business at US $74.5 million or INR 390 crore.