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15Mar By Sheldan RungasamyNo Comments

News

Walmart Planning Flipkart Takeover

Walmart Stores Inc. is set to become Flipkart’s largest shareholder as negotiations are being finalized. Walmart could buy around 20-26% stakes in the Indian company and improve its shareholding rights to 51% in tranches, according to reports. India’s biggest online retail company, Flipkart is luring the world’s largest brick-and-mortar retailer in its ranks before yet another face-off against American retailer Amazon in the India e-commerce market. The American retail giant might invest $10-12 billion for the entire stake purchase in a deal that will include the acquisition of shares owned by existing investors with the likes of Softbank, the Japanese telecom and internet giant, according to two anonymous sources close to the company. “The primary investment will be between $1-2 Bn,...

Walmart Interested In Investing in Indian E-commerce Giant Flipkart

9Feb By PriyankaNo Comments

News

Walmart Interested In Investing in Indian E-commerce Giant Flipkart

American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores- Walmart is actively looking to invest in Indian e-commerce giant Flipkart and is willing to pay billions for as much as 20 percent stake. Walmart is the world's biggest retailer and if it invested in the Indian unicorn, it is expected that it may increase Flipkart's valuation to as much as $20 billion, which as per the researcher CB Insights is currently $12 billion. It is also mentioned by the source Bloomberg that the talks are in advanced stage, but the terms could still change and the deal may not be finalized. “Walmart will make Flipkart a stronger rival to Amazon,” said Arvind Singhal, chairman of the New Delhi-based retail consultancy Technopak Advi...

Amazon Steps Forward, Plans To Launch Its Own Beauty Products

8Feb By Sabhyata AgarwalNo Comments

News

Amazon Steps Forward, Plans To Launch Its Own Beauty Products

Amazon India is ready to launch its beauty and personal care products, thus giving a cut-throat competition to other major Online beauty stores such as Nykaa, Purplle, Slassy, Jabong, Myntra etc. Previously Flipkart-owned Myntra has also announced to launch its own brand of Beauty and cosmetics products. Leaving no stones unturned, the top two businesses have acquired a much larger share of clients in the market. A person close to the development said "Amazon India is talking to contract manufacturers and will be launching private labels (in-house brands) in a few categories within skin care and makeup". Amazon India and Flipkart have been interested in the women oriented market as the cosmetics and beauty care line has taken a plunge of growth in the last few years. With other online co...

Flipkart To Invest $25M in Silicon Valley Based AI Startup To Enhance Tech

7Feb By Sabhyata AgarwalNo Comments

News

Flipkart To Invest $25M in Silicon Valley Based AI Startup To Enhance Tech

Arch rivals Flipkart and Amazon come up with strategies day-by-day, in order to surpass the competition and stand as number one in the market. In consideration to the fact, the domestic e-commerce giant, Flipkart is looking to invest $25 million (Rs 160 crore) in Silicon Valley to upgrade its technology heap by focusing on deep technology, a report in a financial daily said. Such expansion comes over a month after the E commerce firm created an Internal Al unit known as AlforIndia. It is reported that the Bengaluru based business is keen to invest such a huge amount in at least one artificial intelligence (AI) startup based in Silicon Valley. "They (Flipkart) are looking at tech acquisitions in the valley because differentiated tech is a new focus area for the company. The idea is...

Walmart Looking to Buy Stakes in Flipkart

31Jan By NitishNo Comments

News

Walmart Looking to Buy Stakes in Flipkart

Walmart may acquire a 15-20% stake in Flipkart, allowing them to combine synergies to compete with Amazon in India. US leading retail store chain WalMart is in advanced talks to buy a minority stake in Indian e-commerce firm Flipkart, Indian financial daily the Economic Times reported on Tuesday. Walmart could buy a 15 percent to 20 percent stake in Amazon.com Inc's main competitor in India, the newspaper said, citing two anonymous sources. A deal could be finalised as early as March and may involve primary and secondary sales by longstanding Flipkart investors, the paper added. “We don’t comment on rumours and speculation,” Walmart spokesman Randy Hargrove told Reuters via email. Bengaluru-based Flipkart was not immediately available for comment outside regular business hours...

Myntra Revenue Shoots up to 87% in 2016-17

27Jan By AdityaNo Comments

ANALYSIS

Myntra Revenue Shoots up to 87% in 2016-17

Flipkart owned India's leading fashion e-commerce company Myntra turnover zoom of ₹2,000 crore in fiscal 2016-17, an 87% jump from the previous year, according to a filing with the Ministry of Corporate Affairs. The company had posted a ₹816 crore loss in FY16. Tofler a data-tracking platform published this report. As per the report, 94% revenue came from trading business, that includes sales from Myntra’s private labels, a category that offers higher margins and has been aggressively pursued by the company over the years. And rest 6% from data processing, hosting and related activities and its Web portal. The filing did not show any profit or loss numbers for the year. Myntra was started private label business in 2015 and it now accounts for nearly a fourth of revenue. Last ye...

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

17Jan By kriti singhNo Comments

BUSINESS

Patanjali Goes Online, Aims Over Rs 1,000 Crore Sales in 2018

Baba Ramdev-led Patanjali Ayurved today announced its foray into e-commerce for its FMCG items, partnering major players in the space, including Amazon and Flipkart, and targeting over Rs 1,000 crore this year itself. The Haridwar-based company said it has partnered eight players, which also include Grofers, Shopclues, BigBasket, 1mg, Paytm Mall and Netmeds, through which its entire range of products would be available online. Besides, Patanjali said it will also expand into new product segments such as bottled water through brand 'Divya Jal' and apparels and footwear under the brand name 'Paridhan' this year. "Online mechanism aims to provide convenient and efficient options along with extension of traditional retail market", said Baba Ramdev. He further added: "We are target...

Flipkarts Payment Arm PhonePe Collaborated With Rival FreeCharge

10Jan By PriyankaNo Comments

News

Flipkarts Payment Arm PhonePe Collaborated With Rival FreeCharge

Flipkarts payment wallet PhonePe today said it has partnered mobile wallet company FreeCharge to allow the latters customers pay for transactions at PhonePes partner merchants. According to the deal terms, PhonePe has now enabled its over 45 million users to link their existing FreeCharge wallets to the PhonePe app, PhonePe said in a statement. Once linked, PhonePe customers will be able to spend their FreeCharge wallet balance at all online and offline merchant outlets that accept payments via PhonePe, it added. "This is in line with our vision of making PhonePe Indias first truly open payments platform, where customers can use any and all payment instruments of their choice," PhonePe Head Banking Products and Strategic Partnerships Hemant Gala said. To pay via FreeCharge on P...

A Guy Orders Rs 33,000 Smartphone, What Was Inside Will Surprise You

29Dec By RishabhNo Comments

News

A Guy Orders Rs 33,000 Smartphone, What Was Inside Will Surprise You

Lately e-commerce sector has seen a boom in India. People are openly accepting it because its more about convenience and save a lot of time. These e-commerce websites often offers lucrative discounts to attract customers, but what is happening at the back-end is fraud. A similar case of fraud was brought up recently by Indiatimes where a user, Rakesh Chabaria from Mumbai ordered a smartphone online. On 23 December, when the parcel was received, he was shocked to see what was inside. Rakesh had ordered a phone but what was inside was beyond his expectations. We all have heard some news related to it but he never thought it would happen to him as well. Inside the box, instead of a smartphone was a big stone! The package that he received on December 23 was already very untidy ...

Ratan Tata Backed Fashion Startup Kaaryah Shuts Operations After Three Years

22Dec By RishabhNo Comments

News

Ratan Tata Backed Fashion Startup Kaaryah Shuts Operations After Three Years

Gurugram-based online women's fashion portal Kaaryah has shut down after operating for over three years. The startup failed to sustain because of the lack of funds, said Nidhi Agarwal, the founder and CEO of Kaaryah. The company has also laid off its workforce of around 50 employees. “It was not sudden. We have been trying to raise funds for the last 18 months. We had broken even twice in 30 months. Honestly, my aspiration for the brand was to take it to Rs 100 crore revenues within 4-5 years of having started it. It looked very realistic should we have received normal amounts of funding, given that we were a very capital efficient and working capital-light company,” Agarwal told a financial daily. The employees were given a notice of two months before the official release. Some w...

Know How Amazon Plans To Capture Indian Smartphone Market In 2018 With 10.or

22Dec By Press Trust of IndiaNo Comments

News

Know How Amazon Plans To Capture Indian Smartphone Market In 2018 With 10.or

US-based online retailer Amazon will bring in a range of smartphones to the Indian market under 10.or (pronounced Tenor) to take on homegrown rival, Flipkart. The smartphones, first of which goes on sale on January 5, will be launched under the companys Crafted for Amazon programme, it said in a statement. Explaining the programme, Amazon.in said it shares customer insights with OEM partners. These partners then design and manufacture products as per industry leading quality and reliability standards. Amazon provides go-to-market support for these products, it added. The first device -- 10.or D series smartphone features 5.2 inch screen and 3,500 mAH battery. It will be priced Rs 4,999 onwards The Crafted for Amazon program will also include fashion brands like Myx, Symbol, ...

Flipkart Completed Buyback Share Programme Worth $100M, With 3,000 Participants

13Dec By RishabhNo Comments

BUSINESS, INDIA

Flipkart Completed Buyback Share Programme Worth $100M, With 3,000 Participants

Indian online e-commerce giant Flipkart has recently completed its $100 million re-purchase of employee stock options (ESOPs), marking it the largest share buyback programme in Indian startup history, a financial daily reported. In a release on Wednesday, Flipkart said that over 3,000 existing and former employees of Flipkart, PhonePe, Myntra, and Jabong had participated in this programme, Mint reported. “Employees are our biggest source of strength, without whom Flipkart couldn’t have built the e-commerce industry in India. As an organisation, we believe they should be equal partners in Flipkart’s success. This ESOP repurchase programme is an extension of that culture, and a token of thanks for the dedication and hard work they have put in over the years. We’re delighted to be setti...