13th September 2021, Mumbai:

Coutloot, a social e-commerce start-up located in Mumbai, has secured $8 million (Rs 58 crore) in a pre-series investment round headed by Ameba Capital.

The investment round included participation from SOSV, 9Unicorns, Astarc Ventures, and Venture Catalysts, an existing investor. Coutloot plans to use the money to grow its retail offerings, scale its B2B supply chain, and ramp up recruiting across verticals like technology, marketing, and leadership. 

Kevin Wang, a managing partner at Ameba Capital, stated in a statement about the investment in Coutloot, "Coutloot has best answered the demands from the growing consumption of 500 million-plus tier 2, 3 Indian population, by merging online and offline retail."

The country's next rapid 4G mobile deployment will see results similar to those seen in China, such as Taobao, Tmall, and Pinduoduo, or even Tiktok, which provide conversational social commerce supported in India's native languages.”

Coutloot co-founder and CEO Jasmeet Thind stated, "Coutloot gives vendors and buyers the ability to set pricing following a conversation deal." We're attempting to establish Coutloot as India's Taobao, which is one of the world's most intriguing e-commerce success stories.”

Coutloot promises to give business possibilities to over 500,000 offline shops, mom-and-pop stores, house sellers, and street hawkers through their platform, which was founded by Jasmeet Thind and Mahima Kaul.

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11th September 2021, Mumbai:

Urbanic, a London-based fashion label, has partnered with Flipkart ahead of the latter's flagship sale event, "Big Billion Days." Urbanic hopes to expand its footprint across the country with this collaboration, relying on Flipkart's 350 million customers in metros, tier 2 and 3 areas to help fuel its expansion.

The company previously collaborated with Myntra, a Flipkart-owned fashion site that saw record sales on the day of its introduction. Urbanic anticipates that its relationship with Flipkart would help it expand its client base and reach in India.

“Fashion plays a significant role in onboarding new customers over the Christmas season for Flipkart, and we think that this launch will increase our Gen Z client base,” Nishit Garg, vice president of Flipkart Fashion, said in a statement. We are excited to announce the debut of Urbanic on Flipkart, which is one of our most significant fashion collaborations this year.” 

“Through this agreement, we intend to extend our reach and use Flipkart's reach throughout the length and width of the country, as well as their technology, to provide our community of style icons a superior digital shopping experience,” said Rahul Dayama, head of marketing at Urbanic India.

Urbanic, which was founded in 2019, also distributes its items in India through its app, which has over 15 million downloads.

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14th September 2021, Mumbai:

When the world's two biggest fashion conglomerates release quarterly sales numbers on Wednesday, No. 1 Inditex is expected to return to pre-pandemic levels as stores reopen and customers yearn to update their wardrobes, but H&M still has a long way to go.

Although the recent emergence of the Delta strain of the coronavirus has forced the return of certain restrictions, fashion stores have been rebounding from the pandemic's blow in 2020 as economies reopen and restrictions relax.

Analysts believe Inditex's recovery in the quarter was aided by remaining best-in-class in terms of speed and a strong overall recovery in its core market of Spain, as well as better sales in China, where H&M has suffered since it expressed concerns in 2019 about alleged human rights abuses in the Xinjiang region.

"Inditex is expected to have had a higher summer sales performance, thanks to its more premium positioning, fashion offers, and improved success in China. H&M's margin and cashflow development, on the other hand, should be robust "According to RBC analyst Richard Chamberlain.

According to Refinitiv SmartEstimates, analysts expect Inditex's revenues to be 7.02 billion euros ($8.27 billion) in the three months through July, up 48 percent from the same time last year and 2 percent higher than in the same period last year.

In a report, analysts at JP Morgan, who have an "overweight" recommendation on Inditex's stock, predicted "a good quarter." "This should be supported by fewer store closures and a slightly improved backdrop: the Spanish clothing market improved noticeably in June, though it appears to have taken a step back in July; data from elsewhere in Europe shows that France improved significantly; and (a) still the strong U.S.," they said.

As customers went on post-lockdown buying sprees, Inditex's sales in May and early June were twice as high as a year before. The Spanish group's net profit is expected to be 872 million euros, up 307 percent and 7%, respectively.

The easing of travel limitations, the unwinding of remote working, and the reintroduction of social gatherings, according to analysts at Alantra Equities, should all stimulate demand for designer items. There are still obstacles to overcome. Primark, a British low-cost apparel store with no internet presence, reported on Monday that sales in the most recent quarter fell short of management forecasts.

According to Refinitiv SmartEstimates, H&M's sales for the June-August period, its fiscal third quarter, were up 14% year over year but down 9% from 2019. The company's sales data was released on Wednesday, ahead of its full-year results announcement on Sept. 30.

A scarcity of shipping containers and other global supply chain bottlenecks have caused delays and skyrocketing transportation costs across industries throughout the world, but H&M and Inditex look to be safe from empty shelves for the time being.

"Neither will be immune from it," RBC's Chamberlain said, "but currency (a weaker US dollar) should more than balance the impact of increased raw material and transportation costs on margins for the rest of the year, while both businesses are good at ensuring a sufficient supply of inventories."

After expressing concerns over alleged human rights violations in the Xinjiang area in 2019, H&M's sales were impacted in China, where it was removed from Tmall and local phone makers app shops in March.

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9th September 2021, Mumbai:

Cauvery Handicrafts Emporium, a subsidiary of the Karnataka State Handicrafts Development Corporation (KSHDC), has collaborated with Amazon India to enhance its online sales.

Cauvery Handicrafts Emporium vendors, such as artisans and weavers, will be able to exhibit and sell their handcrafted items to Amazon buyers around the country through the ‘Karigar' shop. “Karnataka is recognized for its handicraft sector and its unique, traditional masterpieces produced from a range of materials utilizing complex patterns and time-tested as well as modern techniques,” said Sumit Sahay, director of seller partner services at Amazon India, in a statement. 

The inauguration of Cauvery Handicrafts Emporium is a significant step forward in realizing our objective for the Karigar initiative, which is to broaden product choices by incorporating local art forms that support craftspeople and make Amazon genuinely representative of India's rich culture.”

“The launch will provide better visibility among buyers who search for a large selection of handmade goods created by craftsmen from Karnataka,” said KSHDC managing director D Roopa Moudgil. In 2019, Amazon India launched Amazon Karigar, a store dedicated to “Made in India” handcrafted items with the goal of promoting small companies across the country.

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