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Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd

5Jan By NitishNo Comments

FUNDING

Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd

Fashion e-commerce portal Fynd has raised an undisclosed amount of funding from Facebook executive Anand Chandrasekaran. Arvind Sports Lifestyle CEO Rajiv Mehta and Livspace co-founder Ramakant Sharm also participated in this round. Fynd optimises delivery time for online shoppers by sourcing products from the outlets nearest to the customer. It sells fashion apparel, bags and accessories on its platform. "Our major purpose of raising the round wasn't to gain more capital but to partner with stakeholders who can actually help us with their experiences and expertise.” Last year, Fynd completed preliminary testing of its business model and was scaling up business from Mumbai to nationwide, said Fynd’s, co-founder Harsh Shah. "Around the same time, Anand, Ramakant, and Rajiv amongst...

Koovs Gets 92 Crores Investment from TOI Group, Others

17Nov By AdityaNo Comments

FUNDING

Koovs Gets 92 Crores Investment from TOI Group, Others

UK-based online fashion player Koovs plc has raised 10.9 million pounds (about Rs 92 crore) from existing and new shareholders, including 3.9 million pounds from the Times of India Group. "Koovs plc is pleased to confirm a strategic investment in the company of 3.9 million pounds from the Times of India Group and a further 7 million pounds investment by new and existing shareholders, through the issue of 21,700,000 new ordinary shares at 50 pence per ordinary share," the online firm said in a statement today. The capital raise is part of the final tranche of the company's three-year investment programme to raise approximately 35 million pounds that was announced in September 2015. This brings the total amount raised under this programme to 31 million pounds to date. "The company a...

Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation

11Nov By AdityaNo Comments

News

Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation

Fashion e-tailer Jabong said it saw 50 percent revenue growth month-on-month in October, closing the month with positive unit economics for the first time in its history. The Myntra-owned company achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction, Jabong said in a statement. However, the company did not specify the gross profit made or the total revenues for October. "Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra," it added. Jabong said the growth was accompanied by a surge in customer net promoter score (NPS) -- a measurement of customer satisfaction -- to 50 percent. The company held its sale in October...

Myntra Introduces Try and Buy New Feature

8Sep By PriyankaNo Comments

News

Myntra Introduces Try and Buy New Feature

Myntra announces the introduction of 'Try and Buy' (T&B), a new service option aimed at breaking the final barrier to shopping fashion online. Considered to be the Holy Grail for fashion E-commerce, T&B allows for the 'touch and feel' factor to seep into the world of online shopping, especially fashion, where it is expected to bring about a huge change in the way traditional buyers look at buying apparel online. Ashutosh Lawania, Co-founder, Myntra, said, "Try and Buy is an important step towards offering consumers a hassle-free online shopping experience and encouraging more offline buyers to shop online. This new concept will open up online fashion to a whole new section of buyers." Offline shoppers have expressed apprehension over the lack of touch and feel in the case of onli...

Voonik Acquires Styling, Personalization App Dekkoh

3Sep By NitishNo Comments

ACQUISITION

Voonik Acquires Styling, Personalization App Dekkoh

India’s leading personalization focused fashion marketplace Voonik has announced the acquisition of Dekkoh. Over the last few months, the company has acqui-hired Zohraa, Picksilk, Styl, TrialKart and Getsy. Dekkoh was founded by Aditya Chalsani and Varun Mathew, as a fashion discovery platform that allows users to chat one-on-one with their own personal stylist and buy clothing and accessories that suit them. It connects stylist community of more than 200 stylists to consumers seeking fashion advice and also have a rule based chat bot technology. “Voonik is built around personalised fashion, to provide every customer a solution and opportunity to be fashionable every day. Personalization is what has set us miles ahead of competition. Dekkoh platform is doing the same through an engaged...

14Aug By AnkitaNo Comments

ACQUISITION

Flipkart Owned Myntra Acquires 51% Stake in ‘HRX’

Flipkart-owned Myntra has acquired majority stake in HRX, the active lifestyle brand co-owned by Bollywood actor Hrithik Roshan, and Exceed Entertainment. The company did not disclose the quantum of stake acquired as well as cost of the acquisition. In an emailed statement, it said: "Myntra has bought stakes from Hrithik and Exceed. Both Hrithik and Exceed will continue to be shareholders in HRX." This move is in a bid to further strengthen Myntra's successful private brands business, it added. HRX, one of the first homegrown Indian active lifestyle brand incepted in 2012, was exclusively licensed to Myntra in 2013, and has been one of the top selling brands on Myntra since then. HRX is on track to double its revenues to Rs 200 crore in the current financial year and is ...

5Jul By PriyankaNo Comments

News

ShopClues Added 60 k Sellers in Fashion Segment

New Delhi, July 5: Creating a mammoth in consumer offerings, ShopClues has established itself as the ultimate online destination for fashion. India's first and largest managed marketplace is going the extra mile to grow its existence pan-India. The online aggregator has added 60,000 new sellers on its platform in this segment and will take this number to 1,50,000 by the end of the year. In order to meet the expectations of its shoppers, the marketplace is constantly infusing fresh flavor into the category with new and popular brands such as Wrangler, Puma, American Tourister, Lotto, and Maxima along with 250 others. "At ShopClues, we strive to provide the best products from all corners of the country at the most reasonable prices. We are increasingly looking at bolstering our market...

Myntra’s ‘End of Reason Sale’ Clocks 2 Million Product Orders on Day 1

3Jul By NitishNo Comments

News

Myntra’s ‘End of Reason Sale’ Clocks 2 Million Product Orders on Day 1

India's biggest fashion shopping sale, the fourth edition of Myntra's 'End of Reason sale', clocked over two million item orders placed by end of day one of the two-day weekend sale. In the run up to the opening of the sale at 12 am on Saturday, around Rs. 700 crore worth of products were added to the EORS wish list (A special feature offered for EORS-4). The wish list was offered for the first time for short listing of items to go on sale. Also, the Myntra App was ranked number one on iOS in India across all categories. Myntra and EORS were among the top searched items on Google and Twitter, with search trends higher than Amazon, during the same period. "The fourth edition of EORS has received phenomenal response so far. On the first day of the sale, we have seen installation of...

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

6Jun By AnkitaNo Comments

ACQUISITION

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

Voonik, a Sequoia Capital-backed fashion marketplace startup which is focused on curated fashion has acquired three startups to build its premium fashion product Vilara. Voonik is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings. Bengaluru based Voonik has now acquired five startups in the past six months. It raised $5 million funding from Sequoia Capital and SeedFund last year. It has claimed $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal. The three companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine person team at Styl, whic...

23May By PriyankaNo Comments

News

Tata Cliq Tie-up With Genesis Fashion Brand

Tata Groups upcoming e-commerce platform TataCLiQ.com today entered into a strategic partnership with Genesis Luxury Fashion to sell a wide range of international luxury brands exclusively in India. Genesis is the marketing and distribution partner for more than 14 international brands, including Burberry, Hugo BOSS, Jimmy Choo, Giorgio Armani, Emporio Armani, Armani Jeans, Canali, Michael Kors and Paul Smith, in India. This alliance will make TataCLiQ.com the only authorised partner to offer several international luxury brands in India that the Genesis represents, the company said in a statement. Partnering with Genesis will help TataCLiQ.com get some of these brands online in an authentic and authorised manner to the consumer. TataCLiQ.com CEO Ashutosh Pandey said: "Together,...

Now A Fashion App Will Set Up Trial Rooms For Shoppers at Janpath

14May By AnkitaNo Comments

Story

Now A Fashion App Will Set Up Trial Rooms For Shoppers at Janpath

For the first time find a trial room in middle of a street shopping area organised by the instant advice fashion app, Styledotme. You now get to try an outfit before you buy from the streets and get instant fashion advice from our influencers and fashion experts. With a footfall of over 5,000 shoppers every day across more than 150 shops, Janpath is one of the most flocked-to street shopping places. What it lacks, however, is a trial room, that leaves most shoppers in a state of confusion - "to buy or not to buy". Apart from advice, many interactive and exciting activities have been planned to entertain shoppers. Speaking about the event, StyleDotMe founder Meghna Saraogi said in a statement: "Through the StyleDotMe app, shoppers at Janpath will be able to take pictures of themse...

Sonam Kapoor, First Bollywood Celebrity Who Launched Her Own App

3May By NitishNo Comments

News

Sonam Kapoor, First Bollywood Celebrity Who Launched Her Own App

Considered to be a fashion icon for the youth today, Sonam Kapoor is the first Indian celebrity to launch an app on herself and her life in collaboration with Disciple Media. While in Hollywood, Justin Bieber, Taylor Swift and the Kim Kadarshians have launched similar apps. Sharing #SonamSurprise with you! It's my all new exclusive app! https://t.co/sUfIUKgSjM… So join my tribe and always be the first to know!! — Sonam Kapoor (@sonamakapoor) April 28, 2016 Download my FREE app today everyone! Click the link https://t.co/WRIF4FVevN & get all my make-up & style secrets! pic.twitter.com/Jf2Sop9EyF — Sonam Kapoor (@sonamakapoor) April 30, 2016 Sonam took to social media to make the announcement which began trending on Twitter almost immediately with hashtag #sona...