retail | Pixr8 News

20Sep By reutersNo Comments

ACQUISITION

Walmart Completes Jet.com Acquisition

Wal-Mart Stores on Monday said it has completed the acquisition of Internet retailer Jet.com after agreeing to pay about $3 billion for the e-commerce startup last month. Wal-Mart Chief Executive Doug McMillon announced the closing of the deal, which was pending regulatory approval, in a blog post on the retailer's website. The deal, which was the largest for an online startup, will give Walmart access to Jet.com's innovative pricing software and will help the Bentonville, Arkansas-based retailer to better compete with online rival Amazon.com. "A lot of folks ask me 'Why Jet.com?," McMillon said in a blog post. The answer he said was in the savings both Walmart and Jet can together offer shoppers. Jet, with its ability to lower prices as customers add more items to their shoppi...

Add Wise Steps in Your Shop Using Wiseretail, An Inventory Management Platform Backed by Nike

9Sep By RishabhNo Comments

Story

Add Wise Steps in Your Shop Using Wiseretail, An Inventory Management Platform Backed by Nike

How many times it has happened to you that you get all buckled up and walk into a showroom to purchase an item that you’ve researched all along, and the day you finally reach the showroom, it goes out of stock! People are now smarter than they were some years ago. They research for every article before carrying out purchase. Though these items are available online, yet only 5% of the customers choose to transact from there. The rest 95% still choose offline stores to “touch and feel” the products before they actually purchase it. Until now, the customers had two options; either go online or offline! But recently an attempt has been made by YNG Media’s experts as- Wiseretail to bridge that gap. What is Wiseretail? Wiseretail is an interactive-platform which happens to solve t...

4Sep By AnkitaNo Comments

INDIA

There Should be One Policy For Retail Business and E-commerce, Says Amitabh Kant

(Pic Source: Gaurav Munjal, Unacademy co-founder Facebook profile) India is the only country where there are different policies for different segments of the retail business and e-commerce. Logically, there should be one policy, said Amitabh Kant, CEO, NITI Aayog, while interacting with CEOs at the Valedictory Session of the sixth edition of Massmerize 2016, FICCI’s annual flagship Retail, FMCG and E-Commerce Convention. He said that in today’s globalized world, it has become essential for India to become a part of the global supply chain. For this, India has opened up its economy and liberalized the FDI regime. Now India features as the number one nation in attracting FDI, which has given the country access to latest technology, global best practices and global innovations. Kant ...

Largest Deal in E-commerce: Wal-Mart Acquired Jet.com For $3 Billion

9Aug By reutersNo Comments

ACQUISITION

Largest Deal in E-commerce: Wal-Mart Acquired Jet.com For $3 Billion

Wal-Mart Stores Inc, vying to better challenge Amazon.com Inc , will pay about $3 billion for internet retailer Jet.com and its innovative pricing software in the largest-ever deal for an e-commerce startup. The deal disclosed on Monday follows a five-year e-commerce acquisition spree in which Wal-Mart, the world's biggest traditional retailer, has already bought 15 startups, seeking the talent and technology to make it a dominant player online and narrow the massive gap with market leader Amazon. Wal-Mart's online division has underperformed against Amazon, posting its slowest growth in a year in the first quarter as it struggled to gain traction with consumers, especially millennials. Jet.com was launched by internet entrepreneur Marc Lore in July 2015 and includes software that...

28Jul By PriyankaNo Comments

INDIA

Apple Given Relaxation in Sourcing Norms For Three Years: Indian Govt

Apple has only been given a "breather" for the first three years by providing relaxation to it in local sourcing norms and the compulsory 30 per cent local sourcing clause has not been completely dispensed with, government today informed Rajya Sabha. "We have just given a relaxation that in the first three years, if local sourcing for their retail outlet is becoming difficult, the first three years will be exempted. But the average that we calculate for the local sourcing requirement will be applicable after that for five years. "So, it is not that as if we have completely dispensed with that clause. We have only said that give a breather for the first three years. We may do it afterwards," Commerce Minister Nirmala Sitharaman said. Replying to members question, she said...

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

10Jul By RishabhNo Comments

FUNDING

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

LatestOne.com, a tech and mobile accessory retailer is planning to invest Rs 15 crore to double its customer base and improve operations. Last year in December Latestone.com had raised a total funding of Rs 50 crore out of which Rs 20 crore was from Palred Technologies Limited (PTL). The company showed great potential after its launch in June 2014 by Reddy. Now with this investment, the company plans to open over 100 franchise-based kiosks in malls over the next few years, a senior executive said. "We are looking to invest Rs 15 crore into strengthening our operations and looking to double our customers to 2 million by the end of the fiscal," Palem Srikanth Reddy, Chairman of Palred Technologies said. LatestOne.com has done 1 million successful deliveries with a customer base of 1.5 m...

5Jul By NitishNo Comments

FUNDING

Fintech Startup NeoGrowth Raises $35mn

Fintech startup NeoGrowth has raised USD 35 million (about Rs 225 crore) of equity from IIFL Asset Management and existing investors, including Accion Frontier Inclusion Fund, managed by Quona Capital. A significant portion of the equity was raised in the current round and other existing investors ? Omidyar Network, Aspada Investments and Khosla Impact ? also participated in the funding, IIFL said in a statement here. NeoGrowth will use the funds to help small retailers, including qualified borrowers with little or no credit history, access credit in the country, it said. Using a data and technology-driven approach, the company provides small and mid-sized retail enterprises with flexible, innovative loan products that are secured against retailers future credit card and debit sal...

Tata Starbucks Will Now Offer Indian Coffee in The US Market

27Jun By AnkitaNo Comments

News

Tata Starbucks Will Now Offer Indian Coffee in The US Market

Tata Sons and Starbucks have finalised multiple new joint initiatives to expand their collaboration at a global level, apart from building the iconic American coffee chains brand and business here. The initiatives include sourcing Indian coffee for the US market, introducing the Teavana brand of specialty teas in Indian stores, expanding the market of the Tata-owned mineral water brand Himalayan and skilling over 3,000 youths, the companies said. Tata Sons Chairman Cyrus Mistry met Starbucks Chairman and Chief Executive Howard Schultz last week in Seattle and finalised these initiatives, which will be rolled out by the year-end, the companies said in a joint statement today. The two groups have been running Tata Starbucks coffee chain in the country since October 2012 as part of a joi...

23Jun By AdityaNo Comments

CHINA

McDonald’s Going To Auction China, HK stores, Could Fetch Up to $3 Billion Deal

McDonald's has received more than half a dozen bids for its China and Hong Kong stores, including offers from Beijing Tourism Group, Sanpower and ChemChina, in an auction that could fetch up to $3 billion, people familiar with the matter said. Buyout firms including Bain Capital, TPG Capital and Carlyle Group are also participating in the auction with a view to teaming up with Chinese strategic bidders, the people said. "Given the difficulties Western chains have had recently with public perception, local players have become a serious competitive threat," said Elizabeth Friend, consumer foodservice analyst at Euromonitor International. Oak Brook, Illinois-based McDonald's has hired Morgan Stanley to run the sale of about 2,800 restaurants in China, Hong Kong and South Korea, Reute...

SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

30May By Press Trust of IndiaNo Comments

Entrepreneurs Talk

SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

Having made a string of technology investments in India, Japanese telecom and Internet giant SoftBank has said its investments in the country will top USD 10 billion in 5-10 years. SoftBank, which owns one of Japans biggest mobile carriers and a controlling stake in US-based Sprint Corp, will make its first USD 350 million investment in a solar project in India, its Chief Executive Masayoshi Son said. "We have already invested USD 2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments. Son said SoftBank is looking at accelerating the pace of investments in future. "We also made a first move on solar energy. We are making USD 350 million ...

Square Yards Doubles Revenue With Strong Real Estate Supply Chain

30Mar By AdityaNo Comments

News

Square Yards Doubles Revenue With Strong Real Estate Supply Chain

ANI- At a time when most online real estate players have been struggling, Square Yards has announced its doubled revenue run rate, which is likely to cross Rs. 200 crore in gross revenues from Rs. 100 crore in a span of six months. In the last six months, Square Yards achieved operational break even, launched a broker aggregation platform, significantly enhanced its tech and marketing capabilities and scaled its International presence to countries. The team size has also swelled to 1000+ employees. Square Yards now estimate around 600 to 700 transactions a month with a value of Rs. 350+ crore each month. This puts Square Yards on pedestal with top developers in India on the ability to move such sizeable real estate volumes. "Square Yards has been very successful in striking structur...

Sanjiv Goenka (owner of Pune IPL Team) led Spencer has acquired Gurgaon-based Online Grocery Platform MeraGrocer.com

16Dec By AdityaNo Comments

ACQUISITION

Sanjiv Goenka (owner of Pune IPL Team) led Spencer has acquired Gurgaon-based Online Grocery Platform MeraGrocer.com

Spencer’s Retail has forayed into online space with the acquisition of 100 per cent stake in meragrocer.com at an undisclosed sum to grab 10 per cent of revenue in 4-5 years.The deal is a mixture of debt and equity. This acquisition makes meragrocer.com a subsidiary of Spencer’s, and will form the starting point of Spencer’s online retail business, Spencer’s said in a statement. “With the acquisition we will be able to enter the online channel for Spencer’s soon. However, this does not stop us from tying with other hyper local delivery startups”, sector head Shashwat Goenka said. “Currently we will be in Gurgaon and Delhi as the acquired company is present in these markets. By April-June quarter of 2016, we will launch the service in Kolkata”, he said. Spencer’s, he said, is workin...