16 November 2022, Mumbai:

Shopsy’s business, in terms of units and transactions, doubled in September 2022 compared to July 2022.

Shopsy is e-commerce giant Flipkart’s hyper-value e-commerce segment. The value e-commerce business has seen particular traction in its fashion segment, which now makes up around half of its total demand, driven by women shoppers.

With a zero-commission model, Shopsy enables more sellers to come on board and thus bring hyper-value offerings for customers. Shopsy was launched by Flipkart in 2021 and is positioned in the hyper-value segment of the market.

The business retails a wide range of products, including fashion and lifestyle goods. In order to enable it to have its sellers lower costs as much as possible, Shopsy functions with the lowest possible operating costs.

The business currently offers around 150 million different products spanning over 800 product categories. In July 2022, Shopsy crossed the 100 million user mark, around six months earlier than previously targeted. For Shopsy, the target is to get the next 100 million shoppers online.

Shopsy was launched as a social commerce platform that connects consumers to products through resellers which also gives resellers a platform on which to earn money through sales. Shopsy focuses on products in the value segment of the market and categories include fashion, beauty, and electronics, among others.

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07 November 2022, Mumbai:

Nandani Creation is raising Rs 18 crores through private placement of 14 lakh equity shares and ten lakh warrants to 29 high net worth investors through preferential allotment.

Based in Jaipur, Nandaniis engaged in designing, manufacturing and retailing of contemporary Indian wear for women through three brands Jaipur Kurti, Amaiva-by Jaipur Kurti and Desi Fusion.

The product portfolio comprises kurtis, suit sets, pants, palazzos, fusion wear, and lounge wear. With the fresh funds, the company will further strengthen the product portfolio and deepen its market presence through all channels.

Currently, it sells products through its own website, seven exclusive brand outlets in Rajasthan and Punjab and through other major e-commerce platforms like Myntra, Ajio, Nykaa, Amazon, Tata Cliq, Flipkart etc. The company started its journey in 2012. Being one of the early movers, it was able to establish the brand in online retailing. The company offers products from economy to premium segments.

The company was listed on NSE Emerge through its IPO in October 2016 and migrated to the NSE main board on September 2, 2021. Investors have earned ten times return (including a bonus issue of 3:2 shares) from its IPO price of Rs 28 which translates into 45 per centcompound annual growth rate in the last six years.

In the last one year the company has delivered a return of 101 per cent for its investors.

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 29 October 2022, Mumbai:

Myntra’s operating revenue surged 45 percent in the fiscal year 2022. Marketplace and logistics services were the major sources of revenue for Myntra, contributing around 46 percent and 42 per cent of the operating revenue, which surged 18 percent and 91 percent respectively. Income from advertisement services grew 77 percent.

When it comes to expenditure, logistics turned out to be the biggest cost center for the company contributing nearly 40 percent to the annual expenditure. This cost surged 57 percent. Advertising and promotional expenses were the other major expenses during the last fiscal year which accounted for around 31 percent of total costs and soared 69 percent in the fiscal year 2022. Employee benefit and outsourced manpower expenses increased by 12 percent and 37 percent respectively. The company also incurred payment gateway charges and after-sales services (customer support services) which surged by 53 percent and 32 percent during the last fiscal year.

Myntra’s total expenditure also grew 45 percent. While the operating revenue and total expenses surged at the same pace, an 83 percent spike in non-operating income helped the company control losses to some extent.

Myntra, owned by Walmart, is the largest fashion-focused e-commerce platform in India.

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12 November 2022, Mumbai:

E-commerce major Flipkart has invested in or launched new businesses. These include Shopsy, Flipkart Health, Cleartrip, and ANS Commerce and building strong technology capabilities such as image search, a revamped UX interface, and live commerce.

By investing in these areas, the company was able to create new employment opportunities and grow the e-commerce ecosystem in India, which in turn provides more opportunities for growth for more than 11 lakh sellers, including micro, small and medium enterprises.

Further, Flipkart invested in inorganic growth with investments in companies like Ninjacart and ANS Commerce. Flipkart also invested in its business-to-business vertical, Flipkart India, before the festive season sale of 2022. This investment reduced its cash balance in September.

Flipkart led the first week of the festive season sale by clocking a gross merchandise value of Rs 24,800 crores for a total estimated sale of Rs 40,000 crores across e-commerce platforms. Flipkart's losses widened to over Rs 7800 crores in the financial year 2021-2022. This is based on the performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet.

The combined loss of both entities stood at Rs 5352 crores in the financial year 2020-21. Flipkart Internet, comprising online business-to-consumer platforms, has reported a widening of loss to Rs 4399 crores in the fiscal year 2022 from Rs 2907 crores in the fiscal year 2021.

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05 November 2022, Mumbai:

Himanshu Chakrawarti is the Chief Executive Officer (CEO) of Snapdeal. An alumnus of IIT Kanpur and IIM Bangalore, Himanshu brings over 30 years of rich experience in the retail sector in building lifestyle brands.

He joined Snapdeal a year ago as the president of Snapdeal and was involved in driving the platform’s Bharat-focused, value commerce strategy and has been instrumental in steering various growth-related and operational initiatives.

His success in building brands and expertise in retail operations clubbed with an in-depth understanding of the value retail segment helped Snapdeal build a comprehensive toolkit to serve India’s mega cohort of value-savvy users.

Snapdeal is a value e-commerce major. Snapdeal’s delivered volumes in fiscal ’22 grew 88 percent over fiscal ’21. While requirements and preferences vary from region to region, and across seasons, there is an immense and growing demand for value-fashion across the country.

Snapdeal integrates the two most important criteria for a value shopper - quality and price. Snapdeal footwear is a leading choice across both men's and women's categories. In fashion, the children’s category saw the largest growth. There was a 250 percent increase in sales volumes in girls' and boys’ apparel, while infant wear clocked a 221 percent increase in volumes.

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25 October 2022, Mumbai:

Aditya Birla Fashion Retail is all set to buy majority stakes in three startups. These are Urbano Fashion, Pratyaya E-Commerce, and Awesomefab Shopping.

Aditya Birla is taking steps towards creating one of India’s largest portfolios of disruptor brands in the fashion and lifestyle industry. Urbano Fashion based in Hyderabad offers jeans, T-shirts, shirts, trousers, track pants, shorts, and winter wear for both men and women.

Pratyaya E-Commerce markets its offerings under the brand name Nobero, a fast-fashion apparel supplier. Awesomefab Shopping sells its products through its portal Veirdo. Fashion commerce startup Veirdo was launched in 2016 to offer trendy and affordable clothing to young men.

By 2019, it expanded to launch a womenswear brand, Juneberry, to make the most of the rise in female fashion shoppers in India. It offers more than 300 designs spanning more than 1,500 stock-keeping units, and several apparel categories.

Aditya Birla Fashion Retail has been otherwise widening its portfolio of brands, both by acquiring licenses for international brands in India as well as investing in homegrown ethnic wear labels. This has helped the retailer move beyond the formal men’s clothing segment.

In January 2022 it took a 51 percent stake in House of Masaba Lifestyle. In 2021 it signed a long-term licensing pact to exclusively sell Reebok products in India and other ASEAN countries.

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09 November 2022, Mumbai:

Actress Jhanvi Kapoor is a brand ambassador for Nykaa Fashion.

Nykaa Fashion is a multi-brand e-commerce fashion offering from Nykaa. It is one of the fastest-growing fashion platforms in India. It has over 1,600 brands and 5.1 million stock-keeping units across the women’s, men’s, children’s, and home categories to woo every consumer.

For the second quarter, Nykaa’s net profit grew by 330 per cent year-on-year. The company’s net profit in the same quarter last year was Rs 1 crore. Nykaa has a total of 124 stores in 53 cities.

Last month, the board of Nykaa announced bonus shares with a ratio of 5:1. That is, if an investor has one share of the company, then he will be given five bonus shares. Shares of Nykaa were listed on BSE-NSE in November 2021 and the stock has lost over 48 per cent since its debut in the market.

The issue price of Nykaa’s IPO was Rs 1,125. On a listing day, Nykaa shares were listed at Rs 2,018 with a premium of 78 per cent from the issue price. The company's 52-week high so far is Rs 2,573.70. At the same time, the market capitalization of Nykaa has gone up to Rs 56.28 trillion.

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02 November 2022, Mumbai:

For the second quarter, Nykaa’s profit rose 344 per cent. The lifestyle retailer’s revenue from operations recorded a 39 per cent increase. During the quarter, the company continued to demonstrate strong GMV growth with improvement in gross margin, efficiency in fulfillment, and marketing cost leading to improvement in Ebitda margins.

Gross merchandise value rose 45 per cent while the gross margin improved to 45 per cent. Ebitda margin improved to five per cent. New season merchandise accounted for 24 per cent of Nykaa Fashion GMV; international brands are at 13 per cent of the western wear category GMV. Repeat buyers in fashion now contribute 66 per cent of GMV.

In the beauty and personal care segment, Nykaa’s GMV grew 39 per cent in the second quarter while margins also improved by 630 bps. The fashion business recorded a GMV growth of 43 per cent. In the remaining segments, the GMV grew 240 per cent. Post-Covid, Nykaa’s accelerated investments in new store rollouts as well as store upgradation has resulted in improved footfalls and higher same-store sales.

The company is now investing in growth engines of the future, particularly SuperStore by Nykaa. SuperStore by Nykaa has scaled to 73,000 transacting retailers across 650 cities with 182 brands listed.

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08 November 2022, Mumbai:

Flipkart's losses widened to over Rs 7800 crores in the financial year 2021-2022.

This is based on the performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet. The combined loss of both entities stood at Rs 5352 crores in the financial year 2020-21.

Flipkart Internet, comprising online business-to-consumer platforms, has reported a widening of loss to Rs 4399 crores in the fiscal year 2022 from Rs 2907 crores in the fiscal year 2021. This includes the performance of Flipkart group firms like Myntra, Instakart, etc. The B2B unit, Flipkart India -- earlier called Walmart India -- reported a widening of loss to Rs 3413 crores in the fiscal year 2022 from Rs 2445.6 crores in the fiscal year 2021.

The net income of Flipkart, however, increased by close to 20 percent to about Rs 61,836 crores in 2021-2022 with Flipkart India contributing Rs 51,176 crores and Flipkart Internet registering revenue of Rs 10,660 crores.

The combined revenue of the e-commerce major in 2020-2021 was Rs 51,465 crores with Flipkart India and Flipkart Internet contributing Rs 43,349 crores and Rs 8116 crore respectively.

Flipkart has been leading total sales in India during the festive season. Flipkart is estimated to have led the first week of the festive season sale that was held in the last week of September.

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31 October 2022, Mumbai:

DaMensch’s revenue has hiked up by three times on a year-on-year basis.

The men’s wear brand started with innerwear and has now expanded its portfolio to include sweatshirts, T-shirts, and hoodies, among others. Smaller cities and towns account for most of the brand’s sales, primarily due to the boom in e-commerce.

About 37 per cent of customers are from Tier I cities, 30 per cent from Tier III cities, and the rest from Tier II cities and small towns. In an effort to expand its operations, the company has opened a brick-and-mortar store in Bangalore and plans to follow an omnichannel strategy. Its goods will be available via multi-brand outlets and large-format retail stores by the end of November 2022. A store will be opened every month.

The Bangalore store retails the brand’s full selection of men’s inner and outerwear. The retail space is compact, brightly lit, and features a tree on a central island as well as fitting rooms. About 25 per cent of the brand revenues are invested in advertising and marketing.

Digital marketing will continue to account for most of its ad spending. The brand works at bringing innovation into the innerwear industry for Indian consumers and consistently innovates and designs adaptable and comfort-centric products.

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