Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
Nets three more foreign brands for exclusive retailing, but the cost of the business model may be high, say experts.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
'Women are taking on key roles in warehouses, such as picking and packing, as well as in our last-mile operations across India.'
E-commerce firms like Amazon, Flipkart, Myntra and others witnessed successful festive season sales this year, Experts say e-commerce adoption in the country is accelerating by multiple years or what it would have looked like in 2025.
Having raised about $570 million since July 2013 in three rounds and $760 million since its launch in 2007, the question is where and how Flipkart will spend its war chest.
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
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.
Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Flipkart on Tuesday launched a next-day delivery service.
Flipkart, India's largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors led by internet-focussed investment group DST Global, it said in a statement on Monday.
E-commerce companies managed to beat the odds by adopting a flexible approach in terms of transforming their business models and leveraging emerging technologies. They had to constantly align their objectives with evolving customer needs. With companies hiring thousands of temporary workers, expanding to smaller cities, and launching new products, e-commerce giants gird up to celebrate the peak festival season without Covid restrictions after a three-year time-out.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
The management changes come amid talks that the company is preparing for an IPO in the United States.
Amazon has committed over $5 billion to grow its business in India so far and says it will pump in more capital as and when needed, a big worry for rival Flipkart which has been struggling to raise funds over the past couple of months.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Its share among top three e-commerce players grew to 57% in March 2017 from 45% in June 2016
Prominent print advertisements on Monday pitched Amazon's discount strategy against Flipkart's.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
In June this year, the Bengaluru-based online marketplace has jumped into the fiercely competitive smart device market in India by launching its calling tablet for Rs 9,999.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Paytm's secondary share sale gave an opportunity to its employees - both former and current - to liquidate their vested Esops and earn around Rs 500 crore in total.
CCI investigation into predatory pricing likely
The company did not disclose its new holding pattern.
ICICI Bank says it blocked all UPI transactions made through PhonePe due to security concerns.
Vikramank Singh looks back at the year gone by!
In 2015, e-commerce contributed significantly to the growth in television advertising revenues.
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
With more and more youngsters preferring to shop online, the credit appetite has surged.
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
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
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
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The indicative salary outlook for junior employees is Rs 1.45 lakh-Rs 3 lakh per annum, while for mid-management it is between Rs 12 lakh-Rs 30 lakh per annum
Myntra, Flipkart are doing more than 60% of their transactions on phones.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
