Narayanan's strategy of building exclusive brands for Myntra has been a success as well, and more such brands will be added to the portal's offering in the future
Narayanan said while there would be some redundancies as a result of integration of the back-end functions of Myntra and Jabong, it will, however, be less than 10 per cent of the overall headcount
There are several discussions going around in the e-health sector for consolidation with key players being PharmEasy, 1mg, Medlife and Netmeds. According to reports, Reliance Jio is in talks with Netmeds to acquire the latter.
Vogo, which has a fleet of over 12,000 vehicles mainly across Hyderabad, Mysuru and Bengaluru, is also betting big on India's growing traffic congestion.
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
Most firms operating in the space claim that they have seen at least a two-fold rise in orders as compared to other times.
"Our artificial intelligence tells us what people are buying at that point, what is in fashion; on the other hand, we have a fair idea of the material available. It gives us a sense of what we should be putting across in the market and we can put them across really quickly," Ananth Narayanan, CEO, Myntra, tells Alokananda Chakraborty.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Bansal, however, denies the allegations.
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
From almost a thousand employees, 300 have exited the firm.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
The government planned to borrow 10-15 per cent of the total borrowing offshore. That works out to at least Rs 71,000 crore, or about $10.4 billion at Friday's exchange rate.
No financial details were disclosed.
What sold the most this year? Beauty, toys and baby care, sports and fitness, television and large appliances, followed by fashion, says T E Narasimhan.
While the government's demonetisation move is aimed at curbing under-invoicing, the worry was that retailers would de-stock in the short term, impacting sales.
Customer insight drives the online fashion retailer to launch 'mood' stores, rethink the way it sells its wares.
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