Commerce and industry minister Piyush Goyal on Wednesday alleged that Amazon’s proposed $1-billion investment in India is to compensate for its huge loss that “smells of predatory pricing,” and of no great service to the economy. He also questioned the impact of ecommerce on crores of small retailers. “Are we going to cause huge social … Read more
Released by the US Trade Representative (USTR) on January 31, 2023, the 2022 Notorious Markets List identifies 39 online and 33 physical markets globally that are reported to engage in or facilitate substantial trademark counterfeiting or copyright piracy. In India, IndiaMart is the only ‘online’ marketplace named in the list. Rest 4 are all offline … Read more
It has launched Direct to Consumer (D2C) website mynestle.in to sell its own products. For now the platform is only servicing the Delhi-NCR customers. Gradually it will be ramped up into other cities. The platform is targeting to value add by providing curated product bundles, personalised gifting, subscriptions, discounts etc. Consumer engagement is targeted through … Read more
Value merchandise retailer, V-Mart has announced acquisition of once fancied ecommerce start-up Limeroad on a slump sale basis. Total consideration is Rs 67 crore Rs 31 crore cash payout Rs 36 crore liabilities takeover Limeroad will operate as a separate business unit under V-Mart and will continue to be run by the existing key team … Read more
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