07 April 2022, Mumbai:

The Flipkart Foundation was established and launched by the Flipkart Group, a significant e-commerce business, with the goal of facilitating an inclusive, egalitarian, empowered, and sustainable society in India.

Flipkart Group's efforts to create possibilities for ecosystem partners and convenience to stakeholders through a technology-led digital commerce model will be continued by the Foundation.

This would enable the objective to promote a grass-roots, at-scale, and institutionalized effect for sustainable livelihoods and growth prospects for the poor in India to be realized.

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Flipkart Foundation aims to drive transformational work by collaborating with a wide range of stakeholders, including government agencies, non-governmental organizations, and community leaders, in four key areas: market access to underserved and underrepresented sections of society for sustained growth opportunities for entrepreneurship and livelihood; skill development; community development; and environmental responsibility.

The Flipkart Foundation aspires to positively influence 20 million lives directly and indirectly in the next decade by focusing on rural regions and giving fair access to growth opportunities for women and other disadvantaged populations.

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The Flipkart Foundation is funded by grants from the Flipkart Group and through the 'Charity Checkout' function accessible on Flipkart platforms, which makes charitable giving simple and seamless.

In the presence of Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, Krishna Raghavan, Chief People Officer, Flipkart, and others, the Foundation was formally launched in New Delhi by the Union Minister for Social Justice and Empowerment, Dr. Virendra Kumar, Union Minister of State for Micro, Small and Medium Enterprises, Bhanu Pratap Singh Verma, Minister of State for Rural Development, and Minister of State for Consumer Affairs, Food and Public Distribution.

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CREDITS: Apparel Resources.

05 April 2022, Mumbai:

TIME100 MOST INFLUENTIAL COMPANIES OF 2022.

Ten years after being founded by entrepreneur Falguni Nayar with the goal of inspiring Indian women, Nykaa has evolved into one of India’s largest cosmetics and lifestyle brands.

ALSO READ Nykaa aims at 3x retail store count to build its offline presence: CEO Falguni Nayar

Nearly 10 million people shop there, and a November IPO raised $700 million at a $13 billion valuation—turning Nayar, the CEO, into India’s richest self-made businesswoman.

RELATED NEWS NYKAA: India set to become 5th largest beauty market

Expansion and marketing led to a 23% drop in net profits in the nine months to December, but revenue grew 65% year-over-year to $376 million.

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CREDITS: TIME time & Apparel Resources.

28 March 2022, Mumbai:

With the integration of Cashfree Payments’ product ‘Cashgram’, Snapdeal will be able to process refunds with only the customer’s mobile number or email address, with credits automatically flowing to the customer’s UPI-linked bank account, or wallet.

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Speaking on the partnership, Sarvartha Kanchan, Vice President - Supply Chain Management and Customer Experience, Snapdeal said, “We endeavour to provide a delightful experience to our users at all touchpoints.

For our users, who prefer the convenience of cash on delivery, we wanted to provide an equally efficient, yet secure refund process."

RELATED NEWS Clear focus on value segment helps Snapdeal grow

Traditionally, processing refunds for CoD orders has been a multi-step and time-consuming process, which includes manually adding the customer’s bank account details, onboarding the customer as a payee, and tracking as well as reconciling refunds batch-wise.

With the integration of Cashfree Payments’ product ‘Cashgram’, Snapdeal will be able to process refunds with only the customer’s mobile number or email address, with credits automatically flowing to the customer’s UPI-linked bank account, or wallet.

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CREDITS: Mint SME Street Technuter (The news article has not been edited by DFU Publications staff).

02 April 2022, Mumbai:

To better client experience, Delhivery, a logistics and supply chain company, has teamed with AJIO, a Reliance-owned fashion, and clothing store. AJIO will launch a technology-based Quality Check Return Product (QC-RVP) powered by Delhivery as part of the partnership.

The QC-RVP device allows Delhivery's 26,000 last-mile agents to conduct rigorous quality inspections at the customer's doorstep before returning the package to AJIO.

According to Delhivery, it has successfully raised the resale ability of returned goods from 25% to 98 percent, allowing AJIO to increase profitability and reduce waste.

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In addition, AJIO was able to reduce the refund remittance process to 24 hours. "We've worked with AJIO for a long time as its logistics partner, and we're excited to help them improve the quality of their supply chain process."

AJIO's NPS has increased by 130 percent as a result of our QC-RVP solution (Net Promoter Score).

Delhivery's COO, Ajith Pai, stated, "We consistently innovate to drive our clients' business using our skills." QC-RVP enables Delhivery to provide consumers with the option of customizing their doorstep quality inspection process by selecting from a list of more than 20 characteristics.

RELATED NEWS On Ajio, Reliance Retail's private labels outperform major fashion brands

"Delhivery is an important partner for AJIO on the logistics and supply chain leg of the consumer journey.

We have harnessed overall goodness to drive consumer experience through combined innovation in technology and operational processes.

Ashutosh Srivastava, AJIO's COO, stated, "This has enabled greater retention stats for the platform."

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CREDITS: Business Line & Apparel Resources.

28 March 2022, Mumbai:

About Company

It is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. Since Our incorporation in 2017, it has invested both capital and creative energy towards designing a differentiated journey of brand discovery for our consumers.

Credo

It believes that there may be customers without brands but there are no brands without customers and that is what makes us different from others.

ALSO READ Madbow Ventures Ltd Eyes ambitious Revenue in coming two years

Currently, Madbow has a few in-house brands catering to lifestyle and fashion like stalkbae.com, streetstylestalk.com, slaydeal.com, lovedamoda, and SlayXO.com.

Madbow Ventures Ltd is one of the leading names in the fashion industry. Co-founded by Naveen Mahlawat in August 2016, it is a platform for brands where it creates brands across the categories and moves them to scale them at a fast pace with the help of technology, marketing, and years of experience in operations to make successful D2C brands.

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*The company also has plans to enter into the offline market and is looking to diversify itself into omnichannel brands. Keeping this in mind, it has already initiated with MBOs (Multi Brand Outlets) and done some strategic tie-ups with retail chains.

MadBow is also planning to launch its own EBOs (Exclusive Brand Outlets). It is eyeing 100+ MBO stores and 10 EBOs by the end of 2022.

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CREDITS: Madbow Indian Retailer.

02 April 2022, Mumbai:

Multi-brand e-commerce platform Nykaa Fashion has launched a new ethnic wear private label ‘Likha’.

Launched with the slogan ‘Ab Likho Apni Kahani, the brand invites customers to write their own stories in the comfort of their fashion.

ALSO READ Nykaa aims at 3x retail store count to build its offline presence: CEO Falguni Nayar

It currently offers kurtas, co-ord sets, A-line cuts, and anarkalis.

It plans to further diversify this range in the coming months.

Adwaita Nayar, Co-founder, Nykaa, and CEO, Nykaa Fashion says, great fitting everyday Indian wear is a style staple that transcends seasons.

RELATED NEWS NYKAA: India set to become 5th largest beauty market

Nykaa Fashion’s new brand offers customers thoughtful and elevated options for everyday Indian wear that are comfortable, without compromising on designs or fit.”

The newly launched brand will be available exclusively on the Nykaa Fashion website and stores across India. 

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CREDITS: Fashion Network.

26 March 2022, Mumbai:

E-commerce giant Flipkart plans to support small businesses and local artisans in Madhya Pradesh through a new MoU with MP Industrial Development Corporation (MPIDC).

Formed under Flipkart’s Samarth initiative, the partnership will help local businesses, craftsmen, artisans, and weavers to offer their products to millions of customers online.

ALSO READ Flipkart is a firm believer in real-time transactions

Flipkart will help sellers set up their business on its marketplace and assist them with onboarding, free cataloging, marketing, account management, business insights, and warehousing. Rajvardhan Singh Dattigaon, Minister, Department of Industrial Policy and Investment Promotion in Madhya Pradesh, says, through this initiative, the government aims to strengthen a flourishing ecosystem for entrepreneurs, artisans, SHGs especially from rural areas/ Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group adds.

RELATED NEWS Amazon, Flipkart E-COMM announce dates for Republic Day 2022 sales

the partnership is conceptualized to provide a sustainable and inclusive digital platform to enhance the livelihood opportunities for MSMEs and artisans, including in tier-2 and smaller cities.

Flipkart launched Samarth programme in 2019 and claims it currently supports over a million artisans, weavers and craftsmen across India. 

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CREDITS: Fashion Network.

05 April 2022, Mumbai:

An omnichannel platform for retail brands, the Reliance-backed Fynd has collaborated with Magicpin, the platform for access to local retail, connecting offline retailers with online consumers.

The partnership will enable Fynd's clients to experience faster hyperlocal deliveries, reach an extended customer base, and enhance their revenues.

ALSO READ AJIO uses Delhivery's QC-RVP technology to boost prospects

With this integration, magicpin now becomes the first player to enable hyperlocal deliveries in the fashion category.

Magicpin uses technology to enable the discovery of local places, shops, and products for consumers across categories such as food, grocery, pharma, and fashion.

RELATED NEWS Reliance Retail dials in 'Just Dial'

In 2020, magicpin started its home delivery business, delivering products from local stores. magicpin currently has more than 6M+ monthly active users and 200,000+ paying merchants.

The integration offers an abundant pool of opportunities to Magicpin, like accessing Fynd's enriched brand portfolio and strengthening its omnichannel strategy.

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02 April 2022, Mumbai:

NIIF-FirstCry deal falls through; Premji Invest to step in valuing etailer at $2.7-3 billion.

India's sovereign wealth fund National Investment and Infrastructure Fund’s proposed investment in FirstCry as part of a broader funding round of $240 million, has fallen through, sources told ET.

ALSO READ FirstCry: Sovereign wealth fund invest, others offload stake in secondary deal

Existing investor Premji Invest will step in to purchase the stake which NIIF was on the right track to buy, these sources mentioned.

FirstCry’s funding spherical led by NIIF was permitted by the Competition Commission of India(CCI) in February.

RELATED NEWS FirstCry's GlobalBees acquires homecare products company 'The Better Home'

Interestingly, the secondary share sale will take place at a higher valuation of around $2-7-$3 billion, people briefed on the matter said. “SoftBank was among the biggest sellers in this secondary round but the deal has fallen through now.

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CREDITS: ET Pehal News News Explorer (The news article has not been edited by DFU Publications staff).

25 March 2022, Mumbai:

ExpoBazaar, a digital business-to-business platform built by India Expo Mart Limited (IEML), is due to premiere formally on March 30 during the India Handicraft and Gift Fair (IHGF) Delhi Fair, showcasing India's handpicked and curated items.

ExpoBazaar is a digital B2B marketplace that links international wholesale customers with hand-curated goods made in India by talented artisans, manufacturers, and craftspeople. The platform now includes more than 15 product categories in the home, clothing, hospitality, and wellness areas.

Following its introduction, it will be accessible throughout the North American area.

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This platform will enable the country's craftsmen to become self-sufficient, as IEML has a huge network of exporters and access to national and international markets.

The e-marketplace allows worldwide independent sellers to learn about the progress of complicated crafts as well as obtain specialized crafts from a given state, region, or neighborhood.

Creating a vendor account on sell.expobazaar.in allows Indian enterprises to promote their crafts.

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"Through our worldwide digital platform, we are committed to encouraging first-generation entrepreneurs to start and expand enterprises, owing to the simplicity of conducting business online and the lower investment required for online firms compared to brick-and-mortar businesses," said Rakesh Kumar, Co-founder of ExpoBazaar and Chairman of India Expo Mart and DG, EPCH, in a statement.

We also want to make sure that India's traditional and skilled crafts do not perish in the midst of commercialization."

"Collaborating with vendor partners, ExpoBazaar gives product training and encourages craftsmen to produce exquisite designs that harbor the essence of India," stated Dileep Baid, co-founder of ExpoBazaar.

We engage with artisans on the ground to learn about their requirements and to help them develop a healthy and joyful work environment. They are the product visionaries who allow our selling partners to thrive and expand internationally."

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CREDITS: Apparel Resources