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Myntra adds three new sellers to comply with FDI norms

Friday, January 20, 2017 | More »

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With the deadline for compliance with foreign direct investment (FDI) norms approaching, Flipkart-owned Myntra has added three new sellers on its platform to reduce its dependence on Vector E-commerce Pvt Ltd, the biggest seller on the fashion e-tailer. A report in the Mint newspaper said, citing tw...

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Myntra’s Vector E-commerce back in red as FY16 revenue rises 40%

Vector E-commerce Pvt Ltd, the biggest seller on online fashion marketplace Myntra, posted a loss of Rs 8.72 crore in FY16 after turning a profit in the last two financial years, filings with the Registrar of Companies (RoC) show. Profit after tax stood at around Rs 6.5 lakh in FY15. Revenue, howeve...

19 January, 2017 | More »

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Snapdeal revenues up 56% but losses more than doubled to $436 mn in FY2015-16

Jasper Infotech Pvt. Ltd, which runs online marketplace Snapdeal, more than doubled its losses to Rs 2,960 crore (around $436 million) in the financial year ended 31 March 2016. Its total revenues went up by 56% to Rs 1,456.6 crore in FY2015-16. It had garnered revenues of Rs 933.3 crore with a net ...

17 January, 2017 | More »

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Grofers FY16 revenue drops, losses widen

Locodel Solutions Pvt Ltd, the company behind hyperlocal delivery startup Grofers, reported a sharp drop in revenue and a multifold jump in losses for 2015-16. Revenue for the year through March 2016 fell 32% to Rs 58.34 lakh from Rs 86.38 lakh the previous year, the company’s annual report filed ...

11 January, 2017 | More »

Kalyan-Krishnamurthy

Will Tiger man Kalyan Krishnamurthy ride Flipkart out of trouble?

Shedding whatever remaining trappings of an advisory role, venture capital investor Tiger Global has taken direct control of Flipkart with the appointment of its former executive Kalyan Krishnamurthy as CEO of the e-commerce firm. Krishnamurthy will be responsible for the company’s profit and ...

11 January, 2017 | More »

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Myntra to shut two Gurgaon offices, shift staff to Jabong’s premises

In a bid to cut costs, Flipkart-owned fashion e-tailer Myntra is shutting down two of its offices in Gurgaon and moving around 200 employees to Jabong’s premises in the same city, said a report in a business daily on Wednesday. Myntra had acquired competitor Jabong from Global Fashion Group la...

4 January, 2017 | More »

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You can now sell used goods on Amazon India

Amazon India has introduced peer-to-peer sales of used goods, wherein a user can sell products on its platform by registering as an individual seller. The pilot is currently operational in Bengaluru. The programme, called ‘pick-pack-and-pay’, comes after Amazon introduced the sales of us...

3 January, 2017 | More »

Jack Ma, founder & executive chairman, Alibaba Group

Alibaba’s impending entry to alter India’s e-commerce landscape

Jack Ma-owned Alibaba will soon open its first India office in Mumbai’s posh business district Bandra-Kurla Complex (BKC), according to a report in a business daily last week. For this purpose, it has rented 3,221 sq ft of office space at Rs 275 per sq ft per month, the report added. Even on t...

2 January, 2017 | More »

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Flashback 2016: Flipkart braves markdowns, Amazon threat

A steep markdown in valuation, series of top-level exits, heightened competition and prolonged funding drought—India’s biggest e-commerce company Flipkart has had a tumultuous year, to put it mildly. In fact, this was the first year since 2011 when investors didn’t infuse any capital into ...

30 December, 2016 | More »

Alibaba

Alibaba gearing up for India entry, to open office in Mumbai

Further fueling speculations of its imminent entry into the Indian market, Chinese e-commerce major Alibaba Group is establishing its first office in the country in Mumbai. Jack Ma-owned Alibaba is setting up an office at Bandra-Kurla Complex (BKC) in Mumbai, reports Business Standard. The company h...

29 December, 2016 | More »

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