Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
Ola Electric is conducting an restructuring exercise which is expected to affect over 500 employees across various roles within the organisation, according to sources. This would be over 12 per cent of staff at the firm which has about 4,000 people. "This is a restructuring exercise ongoing for the last few months and is expected to conclude by next month," said a person familiar with the development.
Samsung is losing the race in India's premium smartphone market as rival Apple continues to increase its dominance in the segment, driven by robust iPhone sales and festival season discounts. Shortly after Apple CEO Tim Cook announced an all-time revenue record in India yet again for the September quarter, the company recorded its best-ever quarter of shipments at four million units in the third quarter of calendar year 2024 (Q3CY24), led by the iPhone 15 and iPhone 13, according to a report by the International Data Corporation (IDC).
Framing the next chapter in Swiggy's journey as a responsible corporate citizen, co-founder and chief executive officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing. Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy. "We started with code aggregation, then pivoted to logistics, and that became Swiggy.
The Food Safety & Standards Authority of India (FSSAI) on Tuesday asked e-commerce and quick-commerce food operators to ensure a minimum shelf life of 30 per cent or at least 45 days before products expire at the time of delivery. The order follows rising concerns over violations of food safety standards in quick-commerce and e-commerce.
The Food Safety and Standards Authority of India (FSSAI) has sought a meeting with quick-commerce (qcom) platforms like Blinkit, Swiggy Instamart and Zepto on Tuesday to discuss issues regarding violations of food safety standards, according to sources familiar with the matter. This comes at a time when there have been issues raised about food safety standard violations by qcom platforms for packaged food products, including violations related to expiry and best before dates.
India's smartphone market grew by three per cent year-on-year (Y-o-Y) in volume in the third quarter (Q3) of calendar year 2024, while its value surged by 12 per cent Y-o-Y to reach an all-time record for a single quarter, according to a report by research firm Counterpoint. The value growth was driven by an ongoing premiumisation trend, while the increase in volume was driven by an earlier onset of the festival season compared to the previous year.
'It's the second-largest market for us after the US, and should be the largest market at some point.'
Intern-Zip will teach 'technical savviness', soft skills and professional development. It would skill individuals in Microsoft Office and ChatGPT. It will include communication, problem-solving, time management, professional grooming, and networking.
'Women are taking on key roles in warehouses, such as picking and packing, as well as in our last-mile operations across India.'
Bengaluru-based Sunny Gupta had been searching for a laptop for months. In August, while sitting at a coffee shop, he decided to order an Acer Predator laptop - typically priced between Rs 95,000 and Rs 2.5 lakh - through the quick-commerce (q-com) platform Flipkart Minutes. "It took exactly 13 minutes from payment to receiving it at the Starbucks I ordered it to," he wrote in a now-viral post on social media platform X.
Amazon India has witnessed an 84 per cent year-on-year (Y-o-Y) increase in sales of hallmarked gold jewellery and posted a 5-fold spike in demand during the first two days of its ongoing Amazon Great Indian Festival (AGIF) sale event, which started on September 27. This demand is for brands such as Malabar Gold and Diamonds, PN Gadgil Jewellers, Joyalukkas, PC Chandra and KISNA, among others. According to current trends, customers buy fine jewellery starting at Rs 2,000 in the silver category and shell out up to Rs 40,000 for gold and diamond jewellery. In the last year, Amazon has seen more customers opt for 14 Karat purity.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
While war rooms are set up closer to the sales, warlike preparations go into it almost 12 months in advance to ensure that on D-day the firm gives its best to its customers.
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth. According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce. "Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels," Gupta said while addressing a session at Razorpay's D2C and Retail Summit recently.
E-commerce firm Amazon India has announced the creation of over 110,000 seasonal job opportunities across its operations network as it prepares to serve millions of customers throughout India during the upcoming festival season. These positions include both direct and indirect roles in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai, among others. Notably, Amazon has hired thousands of women and nearly 1,900 individuals with disabilities into its existing network.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
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