Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. The increase is a “sign of confidence in the … Read more
After Zivame and Amante, Reliance Retail Ventures Limited (RRVL) has now announced acquiring Clovia, another direct to consumer (D2C) women lingerie brand. Key points to note – Founded in 2012, Clovia has previously raised a total of $22 mn from various investors. Last round was in December 2020, when it had raised Rs 14.3 crore … Read more
Nykaa, started as an online beauty retailing venture has plans to go aggressive on the offline ramp-up. It targets to reach 300 stores across 100 cities as against 84 stores across 40 cities currently. The Promoter CEO, Ms Falguni Nayar, however, declined to provide any specific timelines to achieve this target. It’s interesting that initially … Read more
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
India’s expanding retail landscape is changing fast, with global and domestic consumer and retail behemoths fighting tooth and nail to woo shoppers, as many choose large, clean supermarkets over crowded local stores and ordering online. Data from Forrester Research shows India’s retail market was worth an estimated $883 billion last year, of which grocery retail … Read more
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more
Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its … Read more
Avenue Supermarts Ltd, which owns and operates the supermarket chain D-Mart, on Saturday said its overall sales and sales mix are now trending very close to usual times, though the consumption changes post COVID-19 still persists. Lesser trips and higher basket values continue to be the norm and products such as apparel, laundry, footwear, travel … Read more