Hyderabad/ New Delhi, Jan 20, 2012: eYantra Industries Ltd, Leaders in Brand Merchandising and Corporate Gifting, announced the acquisition of Privilege Corner, aDelhi based Corporate Rewards & Recognition Company for an undisclosed amount. With the acquisition Phani N Raj, Founder eYantra and Mayank Gupta join the board of Directors of Privilege Corner and retain the brand name and the entity.Privilege Corner, a Gurgaon based company was co-founded by Anshul Gupta, Nitin Mathur (cofounder HealthPA), Harsh Azad (co-founder Via.com) and Umang Maheshwari in Jun 2010. In a short period of time company worked with top companies in IT and Telecom on the rewards and loyalty programs.
On the acquisition Phani Narayanam, Founder and CEO, eYantra said, “eYantra’s pioneering work in setting up benefits and reward programs to corporate’s and its employees is augmented by the acquisition of Privilege Corner, a very unique program for employee benefit. eYantra packs a powerful bundle of thoughts for the B2B and B2B2C industry through its online, retail ,Reward & Benefits along with Brand Merchandising solutions. Speeding up, Privilege Corner will be ready to implement the solution for eYantra’s over 1000 corporate clients immediately. We have grown fast organically and are now looking forward to an exponential growth with strategic acquisition to strengthen our position.”
Prior to this, Privilege Corner received a seed fund of USD200 thousand from private investors in Dec 2010.
Anshul Gupta, Founder and CEO, Privilege Corner said “At Privilege Corner we experienced exceptional response from our clients for our unique rewards programs esp. our signature solution the ‘Privilege Club’. We are confident that eYantra’s reach of clients and professional prowess in the space will provide these programs the necessary resources to become big.”
Privilege Corner’s signature reward solution, known as the ‘Privilege Club’, works on the concept of value proposition and is centred on the element of exclusivity. Privilege Corner creates and manages employee benefit programs via intranet based IT Platforms. The Privilege Club program brings forth exclusive experiences at unimaginable prices courtesy its unique ‘collaborative subsidy sharing model’. The program, which is aptly designed to drive desired organizational behaviours and channelize productivity, is running successfully in several Indian Companies. This reward solution rides on the emotion of being part of an exclusive/ special group which is known to significantly elevate motivation levels.
Privilege Corner's International alliances give all their solutions a glocalized touch, thus making it ideal for organizations that need to run centralized reward programs across International Geographies. One of the feathers in the cap of Privilege Corner is the success of the program in re-building an IT major as a best employer. Privilege Corner rewards program also played an instrumental role in pushing the adoption among corporate customers of mobile payments solution for a telecom major.
eYantra, a pioneer in corporate merchandising and branding inIndia, has potentially exploited a large market in the segment. With over 14 physical stores, 32 plus online stores , eYantra provides dedicated and on-demand custom made solutions for all requirements and acts as a one-stop-shop for ideation, designing & execution for corporate merchandising solutions. The company boasts of a 50,000 wholly owned state-of-the-art decoration and distribution facility. With over 1000 companies on its client list, it has initiated and built programs for companies like HCL, Microsoft, Dell, Honeywell, Nestle, HLL, HUL, Mahindra Satyam, Dr Reddy’s etc across 42 countries.