Venture set to generate profits in about three years; Tesco looks to Korea and US chief John Browett expects traffic at the new women's online portal will "run into millions". Launching the UK version of leading US women's web site this week, Browett said the joint venture would increase Tesco's online sales and encourage more women to shop at offers news, information, chatrooms and links to Tesco's home shopping site. Revenues will be generated through advertising and sponsorship. Under the agreement, Tesco provides the cash ($20m) and iVillage the expertise. Both have committed a further $70m in marketing, branding, cash, intellectual property and other resources. The venture is expected to generate profits in about three years. PoS material instore, banner ads on and media space in Tesco publications will help drive traffic at the site, while Tesco in turn has key positioning on the iVillage homepage. Research suggests the net is attracting more and more female users, and capitalising on that growth through iVillage will encourage them to shop at Tesco, added Browett. With 750,000 registered users and 60,000 orders a week, is one of the most visited sites in the UK. The Electrical Store has been a runaway success, he added. "We're at three times breakeven volumes." is "working hard" on its e-clubcard scheme whereby online shoppers can earn and redeem loyalty points on the net. Other ventures include taking online shopping to South Korea next year. Discussions with North American firms concerning a joint venture in the US are also "progressing nicely," although no details are available at present. {{NEWS }}