04 January 2022, Mumbai:

Instead of continuing to develop new retail services, Flipkart wants to ramp up its new releases in 2022. Shopsy, the company's value platform, will be expanded, with an emphasis on the grocery and hyperlocal delivery areas. In an interview with the Economic Times,

Flipkart CEO Kalyan Krishnamurthy said, "Shopsy, food, travel, and healthcare are all significant, and we made massive investments." "Over the next 12- 18 months, we want to really push them to the next level of growth and draw in client uptake."

Shopsy was introduced by Flipkart in July 2021 as a social commerce platform that links customers to items via resellers while simultaneously providing resellers with a platform to earn money through sales.

Shopsy concentrates on items in the value part of the market, with fashion, cosmetics, and technology among its many categories.

Flipkart's ambition to capitalise on India's burgeoning social commerce sector is represented by Shopsy. According to Krishnamurthy, Shopsy is now increasing at a pace of over 20% to 30% month over month and has established itself as the industry leader in the value e-commerce area.

"Right choices, right value, and right services" is what Krishnamurthy meant by commerce. "Social is a technique of enhancing this value offer by making it more discoverable in a relevant way." That's Shopsy."

Flipkart also intends to focus on rapid delivery times of 30 to 45 minutes, which it believes would be more sustainable than the 15-minute delivery choices now available from other e-tailers. Through its fashion branch, Myntra, the company also intends to continue expanding in the online branded fashion industry.

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

Return to homepage

03 January 2022, Mumbai:

Future Retail has urged a New Delhi court to declare ongoing arbitration proceedings with Amazon.com as illegal, saying the country's antitrust agency had CCI suspended a 2019 deal that Amazon used to assert its rights over Future.

Future Retail accused Amazon of using the terms of its toehold $200 million investment in a debt-laden company to block its attempt to sell retail assets to a rival, alleging breach of certain contracts.

But the Indian antitrust body, the Competition Commission of India, in December suspended the 2019 deal saying Amazon suppressed information while seeking approvals.

The long-running dispute is being heard by a Singapore arbitration panel but both sides have been fighting parallel cases in Indian courts to enforce or overrule certain decisions taken by the arbitrator.

In the latest Future Retail filing in New Delhi, the company argues that since the 2019 deal no longer has antitrust approval, it has "no legal existence" in India and Amazon can no longer assert any of its rights.

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

Return to homepage

01 January 2022, Mumbai:

India's Future Retail (FRTL.NS) has asked a New Delhi court to declare arbitration proceedings in Singapore with Amazon.com as illegal, arguing that India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future.

Amazon successfully used the terms of its toehold $200 million investment in debt-laden Future to block the Indian retailer's attempt to sell retail assets to a rival, alleging breach of certain contracts.

But the Indian antitrust body, the Competition Commission of India, in December suspended the 2019 deal saying Amazon suppressed information while seeking approvals.

The long-running dispute is being heard by a Singapore arbitration panel, but both sides have been fighting parallel cases in Indian courts to enforce or overrule certain decisions taken by the arbitrator.

In the latest Future Retail filing in New Delhi, the company argues that since the 2019 deal no longer has antitrust approval, it has "no legal existence" in India and Amazon can no longer assert any of its rights.

The "continuation of the entire arbitration proceedings is a perpetuation of illegality," Future said in its filing dated Dec. 31. The case will likely be heard by the court later on Monday. Future and Amazon did not respond to a request for comment.

The filing also showed that Future's appeal to the Delhi High Court comes after the Singapore arbitration panel did not agree to its immediate demands to terminate the proceedings, saying arguments would continue this month.

A source with direct knowledge said Amazon had told the Singapore arbitrator in December that the CCI's suspension of the 2019 deal does not mean the transaction is void, as the watchdog has allowed Amazon to reapply for clearances.

Amazon has long argued that Future violated the terms of its 2019 deal in deciding to sell retail assets to Reliance, and the U.S. company's position has so far been backed by the Singapore arbitrator and Indian courts. Future denies any wrongdoing.

But people familiar with the case say the antitrust suspension could make it easier for Future to push through its attempts to sell retail assets to Reliance and weaken Amazon's legal position.

The dispute over Future Retail, which has more than 1,500 supermarket and other outlets, is the most hostile flashpoint between Jeff Bezos' Amazon and Reliance, run by India's richest man Mukesh Ambani, as they try to gain the upper hand in winning retail consumers.

REUTERS (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

Return to homepage

04 January 2022, Mumbai:

Even as India is being hit by the third COVID-19 wave, apparel retailers are planning to add more stores across the country. A report by Telegraph India states large players across the country are ramping up their store footprint to make up for the setback in-store additions earlier this fiscal.

Their decision to expand was taken after an encouraging second quarter where they recovered 75-90 per cent of sales compared to pre-COVID levels. Large retailers have resumed their aggressive plans to add nearly 15–20 per cent to the store footprint, compensating for the slow additions in the recent past.

Trent plans to add 75–80 Zudio stores s and 35–40 Westside stores in the current fiscal, other players such as Aditya Birla Fashion and Retail Ltd (ABFRL), V-Mart, and Shoppers Stop are also expected to have 15–20 per cent growth in-store footprint.

Reliance Retail will also continue with the rapid rollout of stores apart from other initiatives to restore pre-COVID growth momentum.

The country’s largest organized retailer opened 813 stores in the second quarter, On the other hand, Aditya Birla Fashion which has a network of 3,264 stores and around 26,841 multi-brand outlets, added more stores under the Lifestyle and Pantaloons brands.

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

Return to homepage

03 January 2022, Mumbai:

The Confederation of All India Traders (CAIT) has urged the Centre to ensure it does not provide any relaxations to the e-commerce firms in the new e-commerce rules. The Centre is expected to announce the new-commerce rules soon under the Consumer Protection Act.

CAIT alleged that several foreign funded e-commerce companies are indulging into predatory pricing, deep discounting, loss funding, exclusivity, owning inventory, and facilitating illegal items through their channels.

It has said, prohibiting deep discounts and flash sales, making e-marketplaces responsible for the quality of goods sold on their platforms, setting up of robust grievance redressal mechanisms, stoppage of market-distorting discount offers, mis-selling of goods and services, equal treatment of all sellers registered should be the integral and non-compromising points of the new e-commerce policy.

The traders' body also urged the Centre to provide a level playing field to the domestic players to prevent them from winding up their businesses due to the manipulative and unethical business practices of the e-commerce companies.

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

Return to homepage

01 January 2022, Mumbai:

Bazar India, one of the leading retail brands and India's fastest growing fashion and lifestyle company has raised Rs25 crore in Series A funding on Planify Capital Platform. Bazar India will utilise the fund for expanding its team, marketing and branding, funding expansion plans and platform advancement.

The company has raised the current round led by Shashvat Nakrani, co-founder of Bharatpe, Sanjiv Maini, VP at Hindware group; Bhumika Srivastava, HR Director at Airbnb and other executives.

Bazar India has a PAN India presence with 55 stores in 51 cities and 13 states, providing a content-led lifestyle retail experience to its customers. Its retail chain offers a wide range of apparel and general merchandise at competitive prices and in the latest fashion, making it a popular destination for "under-served" India.

Bazar India motto "Fashion ke saath bachat bhi" can be truly identified from their range and the value of product portfolio they maintain all across their stores. Bazar India operates as "One Stop Shop", caters to the complete fashion needs of the entire family at most affordable prices.

Furthermore, the company has a strong presence in Northeast India, making it the top brand in the value segment. The company has a strong base of more than 4,500 employees.

The company earned a net profit after tax of Rs 1.8 Cr with a revenue of Rs 180 Cr during FY21 despite facing COVID-19 lockdown and restrictions. The company is valued at 750 crores at the moment. Atul Garg, CEO of Bazar India, stated,

" Bazar India is poised to be one of the most prominent players in the retail segment in North East India. Early investors will have a great opportunity to make excellent returns on their investments”.

BUSINESS STANDARD (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

Return to homepage

01 January 2022, Mumbai:

DMart, the Radhakishan Damani promoted retail chain, has reported a standalone revenue of Rs 9,065 crore for the quarter ending December, 2021 (Q3FY22) as against from Rs 7,432.69 crore reported in the same quarter last year.

In a company update filing with BSE, DMart, one of the largest retail chains in India also said that the total number of stores as of December 31, 2021 stood at 263. On Friday, DMart NSE 1.42 % shares closed 0.55% to close at Rs 4,665 apiece on NSE.

In Q2, Avenue Supermarts Ltd, which owns and operates retail chain DMart on Saturday had reported a jump of 113.2% standalone net profit at Rs 448.90 crore for the quarter ended 30 September 2021.

The company had posted a net profit of Rs 210.20 crore in the year-ago period.

Consolidated revenue for the quarter climbed 46.79 per cent YoY to Rs 7,789 crore from Rs 5,306 crore in the same period last year.

Retail Economic Times (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

Return to homepage

01 January 2022, Mumbai:

One of the leading Brick-and-mortar retail retailers in India Shoppers Stop has chalked out an aggressive store expansion.

It has taken the shopping experience to level next by opening its 5th ultra-premium store at the Skymark One Mall, Noida. The launch celebration was celebrated & inaugurated by the gracious presence of Vijay Shekhar Sharma, Chairman, Managing Director and CEO of Paytm, and Karunakaran M, Chief Financial Officer of Shoppers Stop Limited.

The brand is all set to create WOW Moments to engage and delight its customers with perfect beauty must-haves and fashion staples.

Venugopal Nair – Customer Care Associate, Managing Director & Chief Executive Officer, Shoppers Stop Limited alluded at the opening note, “We are happy to announce the launch of our 5th store in Noida, & Shoppers Stop is a bridge to a luxury brand to drive a wonderful customer shopping experience for its customers.

This has deepened the brand’s footprint by being present across 87 stores in 42 cities.

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

Return to homepage