Friday, March 29

Author: Gauri Singh

Organic Fashion Label Soul Space Launches its First Retail Store in Pune
BUSINESS

Organic Fashion Label Soul Space Launches its First Retail Store in Pune

Soul Space, India’s first ever Organic and Fairtrade certified fashion brand which is originally Kolkata-based launched its first retail showroom in Pune on Monday. The fashion brand also has its eyes on Mumbai, Bangalore and Hyderabad to expand its operations, planning to launch 20 more stores in the current financial year. The brand is a subsidiary of B L Kashyap and Sons Limited – one of the top 4 companies in the Indian private sector construction industry. It has a powerful e-commerce existence on various renowned websites such as Myntra, Jabong and Amazon as well as its own website – www.mysoulspace.in. Another interesting part is that the brand is also open to the franchise model to expand nationally. The fashion label produces cotton clothes which are environment-friendly and...
China’s Meitu Pacts with British Museum to Launch a Woman’s Smartphone
CHINA

China’s Meitu Pacts with British Museum to Launch a Woman’s Smartphone

China’s leading mobile internet company, Meitu along with the British Museum is all set to launch a limited edition smartphone by and large for the women. It brings forth Artificial Intelligence (AI) as well as beautification technology. It’s the first time that the British Museum has partnered with a smartphone company on a co-branded project. The design of the smartphone has been inspired by one of the best and famed Rococo artists named Antoine Watteau. The beautiful smartphone (a limited edition of Meitu’s V6) is priced at $1,101 (6,999 yuan). The sale of the phone starts from 20th May 2018. It is available from May 20 on jd.com and from May 30 at China Telecom retail stores. To add to the specifications, the smartphone has introduced Dual-pixel front camera fitted with Optica...
Myntra’s losses reduced by 25%, Aims to Track Profits for FY18
BUSINESS

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

Myntra’s marketing strategies and intelligence have lately given a boost to the fashion and lifestyle business of its parent company Flipkart. The losses for the FY17 have reduced by 25% to Rs. 655 crore as against Rs. 823 crore in the previous year. The major strategy adopted by the fashion and lifestyle etailer has been the focus on umbrella branding of its private labels, which means the ability of a single brand to reach across categories. The increase in the reach of private brands to the masses led to the decrease in losses for the company. The documents show that the losses presently stand at Rs 627 crore, lessening 23% on a standalone basis. The company’s three-year-old private label business has grown tremendously and accounts for about 25% of the overall revenue. In Septemb...
Flipkart Introduces New Audit Programme for Quality Check
News

Flipkart Introduces New Audit Programme for Quality Check

Flipkart, India’s one of the biggest online stores has announced that mandatory visits to the sellers’ location to audit their warehouses and merchandise will be done to keep a check on the quality standards and bring down the percentage of return. Though the company did not disclose their present return percentage, it’s quite clear that they have been facing a notable loss of revenue due to high return rate for the sellers as well as the marketplace. The fashion category comprises the major part of the returns and cancellations while the mobile and appliances have the least of it. A monthly report from the e-commerce company to its third-party sellers mentioned that they may anytime give a surprise visit to their warehouses and see if the warehouse and product quality standards are bei...
20 Indian Companies Appointed for the London Mayor’s IE20 Business Programme
News

20 Indian Companies Appointed for the London Mayor’s IE20 Business Programme

Twenty of the major flourishing startups of India have been chosen to join the Mayor of London’s India Emerging 20 (IE20) Business Programme the objective of which is to aid the selected companies for setting up or diversifying their business in the capital of Britain. The business programme deals with companies across the country and represents some of India’s prominent ventures that stand out and specialize in the field of business services, technology, and life sciences. The India Emerging 20 was started by London and Partners (Mayor of London’s official promotional agency in collaboration with BDO or Binder Dijker Otte and Lalit Hotels) which is now in its third edition. It was basically set up to identify India’s potential and ambitious companies that desire international expansion...
COO Qi Lu walks away from Baidu
CHINA

COO Qi Lu walks away from Baidu

China’s top search engine Baidu stated that it’s former Microsoft executive Qi Lu will abdicate from his position and will no longer work for the same after July 2018. Talking about Baidu, it is a famous search engine based in China which is also known as the China's Google. They have rich experience in Chinese language searching and shares 80% of China search engine market. In a social media posting, Lu proclaimed that he joined the company in late 2016 and is now leaving the role in July due to some personal and family reasons. It’s been said that he is planning to spend more time with his family in the US. In this context, he stated, “For my next steps, I plan to work in research and investment areas, to help advance our shared mission to make a complex world simpler through te...