06 January 2022, Mumbai:

Shopsy was launched in July 2021 as a social commerce platform which connects consumers to products through resellers which also gives resellers a platform on which to earn money through sales. It focuses on products in the value segment of the market and categories include fashion, beauty, and electronics, among others. As India’s social commerce market is booming, Shopsy represents Flipkart’s plan to tap into this growth opportunity. Shopsy is currently growing at a rate of over 20 per cent to 30 per cent on a month-on-month basis.

In 2022, Flipkart plans to scale up its new launches as opposed to continuing to launch new retail services. Besides Shopsy, the business will focus on grocery and hyperlocal delivery segments. Flipkart also plans to concentrate on fast delivery around the 30 minute to 45 minute mark which it sees as more sustainable than the 15 minute delivery options some e-tailers currently offer.

The business also plans to continue to expand in the online branded fashion space through the fashion arm Myntra. Flipkart has invested heavily in grocery, travel and healthcare and wants to get these to the next level of growth and pull in customer adoption over the next few months.

Meanwhle Flipkart Internet’s revenues for the financial year 2020-21 rose 32 per cent. Flipkart Internet, which generates revenues through verticals such as logistics, marketplace fees and payment gateway, however, witnessed its net losses widen during the same fiscal. This is a 49 per cent increase from fiscal. Flipkart’s wholesale arm, Flipkart India, saw a 25 per cent growth in revenues. Flipkart India acquired a 100 per cent stake in its parent Walmart’s cash & carry operations in 2020. Its net loss during the same fiscal fell by 22 per cent from the last financial year.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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02 December 2021,  Mumbai:

Metro Brands plans to strengthen its retail presence across India, and is opening over 200 stores in the next three years. The footwear major currently operates 586 stores pan-India. It owns the eponymous brand and Mochi, besides Walkway and operates Crocs exclusive brand outlets across the country as their national retail partner. In 2015, Metro Shoes signed a retail partnership agreement with Crocs to help increase the global footwear company’s presence across the nation. As per the agreement, Metro Shoes would open exclusive brand outlets of Crocs footwear across the country.

The company plans to float an IPO and utilise the funds raised from it to fuel its retail expansion plan. The IPO proceeds will go primarily into expansion of stores. Offline expansion is expected to aid the omni-channel presence as well as shore up offerings in the e-commerce space. Most Metro Brands stores double-up as omni-channel aiding deliveries for orders made online.

There’s been a revival in market demand with numbers being higher than pre-Covid levels. Premium offerings are witnessing movement again. And e-commerce is also not as deep discounting a channel as it used to be. The digital space has evolved as a complementary channel focused more on convenience rather than being a liquidation channel as it was earlier.

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06 November 2021, Mumbai:

The Delhi government has announced the establishment of 'Dilli Bazaar,' an e-commerce platform that will allow traders and retailers in the city to sell their wares online to clients in India and overseas. Both direct-to-consumer and business-to-business companies, as well as start-ups, will be supported by the 'Dilli Bazaar.'

On the platform, local companies will be heavily promoted. The platform will also have virtual markets where users can browse stores, find things they like, and purchase them. Virtual exhibits will also be held there.

"Delhi businesses will soon have their own e-marketplace, dubbed 'Dilli Bazaar,' where every small and large business owner would have an e-commerce outlet." Dilli Bazaar will be a cutting-edge platform that will offer Delhi's businesses a worldwide online identity, and buyers will be able to go on virtual walks around Delhi's marketplaces and buy whatever goods they want from the comfort of their own homes," stated Delhi Chief Minister Arvind Kejriwal.

"After the introduction of the Dilli Bazaar portal, Delhi's GDP, tax revenues, and economic activity would experience a massive increase; worldwide companies will come to Delhi," Kejriwal remarked. By August of next year, the 'Dilli Bazaar' portal, which will include all prominent businesses and their items, should be ready.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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14 December 2021, Mumbai:

Amazon India has told the Competition Commission of India (CCI) that it did not hide any fact related to its deal with Future Group and that its investment in Future Coupons was compliant with foreign investment laws. people aware of the development said.

The Indian arm of the US ecommerce major had a hearing with the antitrust regulator on Monday where its senior officials answered queries from CCI on the Future deal, a person aware of the matter told ET.

"They reiterated that if the deal is scrapped, it will be anti-competitive and will benefit rivals here (without naming Reliance Industries that has signed a deal to buy Future Retail)

ET (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22 October 2021, Mumbai:

The pandemic has forced people to think out of the box, be more agile and adopt new age communication formats, says Jaspreet Chandok, Head-Lifestyle Business, IMG Reliance, which is organizing the Lakme Fashion Week from October 21 to 25 this year.

Instead of the usual celebrities, and paparazzi flashes, the event this year offers audience a seamless digital experience. It has invested in two major areas; digital architecture and content management, as per a report by Forbes India.

The first part is this investment focuses on creating a virtual showroom for the event while the second part focuses on expanding its technical skills, adds Chandok. LFW has engaged two companies to execute its ambitious digital plans. These include the 10-year old Gurugram-based startup Tagglabs, which focuses on new media and technology innovations for marketing; and Geometry Encompass, a 14-year-old experiential marketing agency that reimagines retail, under the WPP group aegis.

Creating a fantasy 3D world with advanced technologies

Tagglabs is helping LFW construct a fantasy 3D world to enable viewers discover new products and interact with each other. On the other hand, Geometry Encompass has added real-time compositing and motion tracking to green-screen stage shows. This will enable viewers to watch the show from different angles and vantage points.

Advanced technologies are being to ensure consumers with rich experiences even in completely virtual settings, says Ranjit Raina, CEO, Geometry Encompass. For the LFW project, the company created new teams, engagement planners, shooting crews, CG teams, post-production and account management from two cities.

Bengaluru-based AI startup BigThinx also created a virtual fashion show for the New Fashion Week. The show was organized by Fashioninnovation, an inclusive and global showcase featuring designers from the US, Italy, India, Dubai and Japan.

Set in a futuristic mega-city, the show featured plus-sized and racially diverse models, alongwith those with vitiligo, an amputee and one in a wheelchair.

Besides being sustainable and environment-friendly, a virtual fashion show costs 1 per cent of the cost of a real-world fashion show, says Shivang Desai, Founder, BigThinx, The startup recently signed three Indian designers for its other flagship products including 3D body scanning and virtual showrooms.

A tech boost for the sector

The luxury hospitality sector has been somewhat slow in adopting new technologies. However, the pandemic has accelerated the use of new technologies in the sector. Four-year-old automobile startup Adloid Technologies is now seeing demand at levels that it had projected to see in 2022. The company is being flooded with calls from car brands despite not having any marketing or PR initiatives, says Shorya Mahajan, co-founder, Adloid Technologies. It is experiencing a 20 percent month-on-month growth, and is on track to achieve $1.5 million in topline revenues for this year, adds Mahajan.

Currently, the company is working on a module to simulate a test drive. It aims to provide customers the experience of being in the driver’s seat right in their bedrooms.

Indore-based technology firm is getting multiple requests from hoteliers, architects and designers to eliminate multiple touch points within rooms, and replace them with a single touchscreen instead, which is quick to sanitize.The company serves a luxe clientele including the Armani hotels in Dubai and Milan, Bulgari in Paris, Raffles in Singapore, the Aman in New York, St Regis in the Maldives and The Oberoi, New Delhi, etc. It offers all kinds of guest-facing technologies—from reservations to check-out. It expects overseas operations to account for 95 percent of its revenues this year.

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13 December 2021, Mumbai:

Nandan Terry, part of the Chiripal group, has filed preliminary documents with markets regulator Sebi to raise Rs 255 crore through an initial public offering (IPO).

The proceeds of the public issue will be used for payment of debt, for funding working capital requirements and general corporate proposals, according to the draft red herring prospectus (DRHP).

The company may consider raising Rs 40 crore through a pre-IPO placement. If pre-IPO round is undertaken, the issue size will be reduced

Incorporated in 2015, Ahmedabad-based Nandan Terry is a fully vertically integrated company engaged in the principle business of manufacturing terry towels and toweling products.

ET (The news article has not been edited by DFU Publications staff)

13th October 2021, Mumbai:

The second edition of MensXP’s month-long online shopping festival will be held from October 15, 2021. The online event, organized by men’s fashion and lifestyle e-commerce platform ‘Newhood Shopping Festival’ will cover product categories like fashion and lifestyle goods, skincare, footwear, homewares etc. As per Fashion Network, the sale will be attended by MensXP’s private label brands including MensXP Mud, Fraternity, Mojama, MensXP Basics along with other popular brands like Beardo, True Elements, Mr Wonker, Wahl, Neemans, etc. It will offer facilities like free shipping and additional discounts on prepaid orders.

Owned by Times Internet, a part of the Times Group, MensXP was launched by Ankur Bhatia and Angad Bhatia in 2009 and currently retails over 250 brands across categories. It is India’s largest online men's lifestyle brand with over 15 million monthly active users on site and an average monthly reach of 45 million on its social media assets Its philosophy of “Newhood” has enabled MensXP to grow an inclusive community of progressive men that is reshaping the cultural norms of masculinity by driving conversations that no-one else would dare to.

In 2019, MensXP ventured into commerce with a curated marketplace and later entered the men's grooming products segment with its clean premium men’s beauty brand, ‘MensXP Mud’. MensXP is part of the Indiatimes Lifestyle Network, which also includes Indiatimes.com, iDiva.com and Whatshot.in.

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09 December 2021, Mumbai:

As part of the Indian Designer League 2021, designer Arpana Samanta's brand Samantas presented its current menswear and womenswear collection in Bengaluru.

Odisha's textile tradition was honored in this collection. Samanta's latest collection of vibrant handloom traditional and fusion apparel included 36 models on the runway. According to Asian News International, the runway event took place on December 4 at the Den Hotel as part of the third season of designer showcase Indian Designer League by Zulfi Ali.

The collection included a diverse selection of textiles from the designer's native Odisha, with the goal of highlighting the region's textile tradition. Samanthas collaborated with weavers in Odisha to produce the collection, which was inspired by the Union Government's 'Vocal for Local' campaign, which encourages people to buy locally created items and support small companies. The designer also hopes to use the collection to help Odisha's craftspeople find long-term work.

Bomkai cotton, Khandua Paata, and Kotpad cotton fabrics were utilized to produce vivid and bold suits and sherwanis for men, as well as lehengas and gowns for women, this season.

Santhosh Reddy, a Karnataka-based actor, and actress Deepika Das walked the runway as part of the presentation. Saltake Productions orchestrated the appearance of the two celebrities as the event's showstoppers.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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11 November 2021, Mumbai:

This festive season Amazon, Flipkart, and other e-commerce and luxury fashion brands dominated headlines as they witnessed bumper sales in Tier II and III cities. Fashion e-commerce leader Myntra reported the sale of 6 lakh items within the first hour of its sale.

The company recorded the presence of 19 million visitors on the first day of sale. It sold over 4 million items on day one, of which 40 percent of purchases were made by customers from Tier II and III cities and beyond.

Small city customers big buyers

Myntra recorded 40 percent of customers from smaller cities. Ethnic and western wear was the top-selling categories for women as were beauty and personal care. For men, casual wear, occasion wear, workwear, and sports apparel categories recorded most sales.

Around 20 percent of new customers participated during the opening of the event while 40 percent of customers in Tier III and III cities placed orders. The sales validated the impact of the company’s consumer engagement initiatives, celebrity associations, and festive offers, says Amar Nagaram, CEO, Myntra.

The e-commerce company had partnered with over 5,000 leading fashion and lifestyle brands for the event.

Festive sales of Reliance Group's online fashion e-retailer Ajio organized from September 30 to October 4 received a tremendous response from across the country with multiple celebrities like Sidharth Malhotra and Sonam K Ahuja endorsing its #BigBoldSale campaign.

Luxury lifestyle platform Tata CLiQ Luxury hosted its annual '10 on 10' sale from October 6-15. With attractive offers on luxury brands across categories, the event helped the company double sales across categories.

The company not only expanded its product range but also introduced exciting offers on luxury brands across multiple categories, informs Gitanjali Saxena, Business Head-Global Luxury, Tata CLiQ Luxury.

Owned by Tata UniStore, Tata CLiQ recorded over 100 percent Y-o-Y growth and an increase in customer base. The company operates in categories such as electronics, fashion, footwear, and accessories.

Niche players outperform large e-com platforms

According to Prabhu Ram, Head- Industry Intelligence Group (IIG), CyberMedia Research (CMR), niche e-commerce platforms are outperforming large e-commerce platforms at such sale events as they prioritize convenience over cost. Users from Tier II and III cities are contributing significantly to market growth.

This festive season, around 75 million online buyers will participate in sales, of which 50 million will come from Tier-II and smaller cities, adds Jitender Miglani, Senior Forecast Analyst, Forrester.

Global market research firm Forrester expects sales of online retailers in India to have grown by 42 percent to about $9.2 billion in sales during the 2021 festive month against $6.5 billion sales recorded in the festive month of 2020.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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