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CentralNic & Radix launch .STORE domain for e-commerce

"Radix has pulled off another significant coup in obtaining the .STORE TLD and in bringing it to market as the first e-commerce TLD,” said Ben Crawford, CentralNic chief executive.

Cash on a keyboard, symbolises e-commerce and online shopping
The .STORE domain is intended for e-commerce sites for established brands, small businesses and start-ups

CentralNic Group Plc (LON:CNIC) told investors a new deal with existing client Radix FZC has seen the launch of new top level web domain ‘.STORE’, which will exclusively use the company’s backend technology platform.

It means web domain sellers such as GoDaddy, 1&1, and Tucows will now be empowered to sell .STORE domains to e-commerce and other websites, the company said.

The company also highlighted that, according to stats from ntldstats.com, its backend obtains more sales of new top level domains that any other provider.

CentralNic receives a set fee for every domain registered, making it one of the few companies making profits from new Top-Level Domains with its overall revenue further enhanced from the popularity of the new domain.

"Radix has pulled off another significant coup in obtaining the .STORE TLD and in bringing it to market as the first e-commerce TLD,” said Ben Crawford, CentralNic chief executive.

The news follows the announcement in January that Japan’s GMO Registry paid US$41.5 m for the rights to the  .SHOP Top-Level Domain , which is yet to launch.

“CentralNic values our long term relationship with Radix, which has already emerged as one of the most successful companies in the new Top-Level Domain space, and is excited to be Radix's partner in ensuring the smooth launch and supporting the expected growth of the .STORE TLD."

Radix has already achieved top twenty rankings for four of its top-level domains - namely .WEBSITE, .SPACE, .ONLINE and .SITE - and all those domains also exclusively use CentralNic’s as its technical backend partner. This is a significant achievement for both Radix and CentralNic considering that almost 1,000 new TLDs have been launched by competitors.

With .STORE, Radix is targeting established brands, small businesses, and start-ups. Stats, from Domainsbot, indicate that currently there are more than 1.7mln e-commerce enabled websites , of which 1.1mln are standalone e-commerce sites.

But, Radix highlights a secondary target market also exists among offline storage or warehousing groups, or online cloud storage companies which may want to use .STORE for their websites.

Sandeep Ramchandani, Radix vice president, described CentralNic as a ‘trusted and proven partner’, and he said has great confidence in the AIM company’s technical expertise in meeting Radix’s expansion goals in global markets.

“While the purpose for .STORE is specific to websites and platforms that offer products or services for sale online, the target market is global and highly diverse,” he said in a statement.

“We see a great fit for traditional owner managed businesses as they make their way into selling online, as we do for modern start-ups with a commerce motive.

“The entire spectrum can look to find their 'brandname.STORE' which would be their perfect gateway to a dedicated web commerce site, or short URL to their internal commerce specific landing page.”

Ramchandani highlighted that Radix sees most demand coming from existing brands during the first few years. Such customers are likely to seek a new short, clear and precise call-to-action in their marketing messages, he added.

The .STORE launch is now in the ‘sunrise’ period, which means that trademark owners will now be invited to secure their domains – i.e. ‘TheirTrademark.STORE’ – and after that the roll-out moves to the ‘early access’ phase whereby anyone will be able to register domain names on a first-come, first served basis by paying an early access fee.

Early access starts on June 7. Subsequently, the .STORE domain will enter the general availability phase on June 14.

Quick facts: Centralnic Group PLC

Price: 59 GBX

LSE:CNIC
Market: LSE
Market Cap: £107.26 m
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