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Flipkart, the Singapore-based parent of India’s online retail giant, reduced investment into its marketplace unit by 70% in the year ended March, effectively restraining the firm’s sales during the period. Flipkart Marketplace, a Singapore-based subsidiary…
Wal-Mart Stores is seeking to pay as much as US$1 billion for a share of India’s Flipkart Online Services to counter Amazon’s foray into the fast-developing eCommerce market. Under a proposed agreement, reported by both Bloomberg and the Wall Street Journal,…
Chinese tech firm LeEco India plans to open 1000 outlets across the subcontinent by the end of this year. Expecting half of its revenue in India to come from physical stores, LeEco filed an application five months ago with the Foreign Investment Promotion…
The Lazada and Zalora parent is paring back its losses after divesting operations in two markets. With operating losses nearly halved and excluding disposals in India and Southeast Asia, Global Fashion Group (GFG) has reported a 36.3 per cent rise in net…
Coupang’s net sales more than doubled in the first half of the year, helping to validate SoftBank Group Corp.’s bet that the South Korean web retailer will carve out a piece of Asia’s booming e-commerce market. Net revenue rose to 868 billion won ($782…
Flipkart-owned Indian online fashion company Myntra has added two international brands to its platform, Toms and Meters/Bonwe. This makes Myntra home to more than 30 global brands, says its head of international brands business, Gunjan Soni. US-based Toms is…
A year ago, Jabong’s founders turned down $700 million plus from Amazon; this week they sold for $70 million to Flipkart’s Myntra. Indian eCommerce site Flipkart has sealed a shock deal to acquire Jabong, the nation’s third largest online fashion retailer.…
Aditya Birla Fashion and Retail (ABFRL) will acquire US-based clothing brand Forever 21 India from existing local franchise partner Diana Retail. The Rs.175-crore (US$26 million) transaction involves a business transfer agreement, not share transfer, says…
Sportshoe brand Adidas Group India is planning to launch a shopping app by December, primarily to drive customer engagement through content and loyalty programs, as well as boost online sales. It is a significant move as it indicates increasing fragmentation…
Chinese internet and ecosystem conglomerate LeEco India has ventured into the offline retail space to expand its consumer base in an increasingly competitive market on the sub-continent. It has started selling its Le 1s smartphone, initially available…
Investors have injected US$339 million lifeline into GFG, which owns the struggling Rocket Internet fashion websites. Rocket Internet and others have sunk the euro 300 million into its Global Fashion Group, raising GFG’s valuation to €1 billion – which is…
The Indian eCommerce industry is expected to burgeon in the next four years, according to a report by the Confederation of Indian Industry (CII) and Deloitte Touche Tohmatsu India. While the business to business (B2B) segment is expected to more than double…
While some Asian country economies may be slowing down, the health of the online retail markets across the continent is booming. According to a recent report from Forrester, total eCommerce revenue for China, Japan, South Korea, India and Australia is…
Adding more products and international brands to its portfolio, online fashion retailer Myntra India aims to grow its outdoor and sports range revenue by 20 per cent over the next 15 months. Owned by Flipkart, the company earns about 15 per cent of its…
WS Retail, the largest seller on India’s biggest online marketplace Flipkart, nearly tripled its turnover to Rs 10,163 crore in FY15 — more than the combined sales of top brickand-mortal retailers such as Shoppers Stop, Future Lifestyle, Tata’s Trent and…
Flipkart Ltd., the parent company of India’s homegrown ecommerce portal Flipkart.com, which is based in Singapore, has bought back the shares of their logistics business from WS Retail. Business analysts are predicting that this move has been made keeping in…
