Abu Dhabi-based Lulu Group International has opened a shopping mall in Bengaluru after the pandemic somewhat delayed its mall development pipeline in India. Global Malls, an 800,000 sq. ft property in Rajajinagar, opened on Monday and is spread across 14 acres. The mall has a 200,000 sq. ft Lulu Hypermarket and a 60,000 sq. ft … Read more
Mirakl just raised a $555 million Series E led by Silver Lake. The startup builds tech tools that help retailers build third-party marketplaces. The funding round, valuing Mirakl at $3.5 billion, came a year after its $300 million Series D. The e-commerce explosion during the COVID-19 pandemic has resulted in retailers big and small rethinking … Read more
Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to three people aware of the matter. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation … Read more
The intimation for the same was made by Gaurav through an email to Company employees. Zomato founder and CEO Deepinder Goyal confirmed it on twitter. Reason mentioned – “taking a new turn in life and start a new chapter” Key points to note – Gaurav had joined Zomato only 6 years ago in 2015 and … Read more
Zomato announced that it is stopping it’s pilot of grocery delivery services from September 17th. Reasons mentioned by the Company – It’s inability to provide good quality customer service consistently especially due to the increased customer expectations with 15 minute delivery promise. It’s investment in Grofers that it believes would handle this segment better and … Read more
The ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country’s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. … Read more
Online retail giant Amazon.com Inc. (AMZN) is planning to get back into brick and mortar shops as the company is looking to open large departmental store-like facilities, reported WSJ on Thursday. The stores are expected to follow the concept of the in-business departmental store brands like Macy’s Bloomingdale’s Inc. and Nordstrom Inc., but will be … Read more