Reader Sundar Ramalingam has sent us a photograph.
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
Global retail behemoths seem to have read the signals right.
Cash-&-carry chains claim of the products they sell 85-90% is local.
Reliance, Bharti's response to Ahmedabad's space crunch.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
Physical format stores are here to stay.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Employees can take 'unlimited bereavement leave' in case of loss of a family member. All employees are encouraged to take breaks on a daily basis. This includes a mandatory 1-hour lunch break where no other meetings can be scheduled.
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
The deal brings the two start-up stalwarts - Bansal and Ola co-founder and chief executive officer Bhavish Aggarwal - together in the backdrop of growing foreign control in this space.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
The gunman was shot dead.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
Retail giant Walmart and Bharti have decided to part ways.
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
The company wants to compete against international majors in Sunil Mittal bastion.
Foreign companies no longer need Indian firms to help them run operations in the country.
Facebook co-founder and CEO Mark Zuckerberg on Tuesday said India is a very special and important country with a remarkable entrepreneurship culture, as he sought to push deeper the just-launched payments services that allow users to make payments over WhatsApp. Last month, Facebook-owned WhatsApp received approval from the National Payments Corporation of India (NPCI) for rolling out its payments services in India. In 2018, WhatsApp started testing its UPI-based payments services in India -- a global first -- with about a million users.
Retailers can buy existing facilities if they spend $50 mn to create additional infra.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
The size of the Indian financial services market could touch around $340 billion in the next few years.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
What sets 2018 apart from previous years is the magnitude of the shocks that hit our brand ecosystem, says Bharat Bambawale.
Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials.
The companies have asked for digital curfew passes as e-retailers feel if more lockdowns are ordered after April 14, it is extremely difficult and time-consuming process to acquire the passes from local authorities.
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
The e-commerce companies believe the government is using this exercise to take an unauthorised look into their financials, shareholding and operations.
American CEOs expected to meet Modi on Sunday include Apple's Tim Cook, Walmart's Doug McMillon, Caterpillar's Jim Umpleby, Google's Sundar Pichai and Microsoft's Satya Nadella.
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
The government on Thursday clarified that the multi-brand retail store set up by a global retail entity will have to be 'company owned and company operated' and not operated by any franchisee.
Corporate corruption in India is not just about bribing bureaucrats to bypass laws; it's about accounting frauds, kickbacks and cybercrime.
With proceedings in Parliament being disrupted, Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi on Tuesday discussed ways to resolve the logjam over Walmart lobbying and quota in promotions issues.
United States President Barack Obama has nominated new heads for the energy department and the Environmental Protection Agency, as he reshuffles his second term cabinet.
US-based Walmart and UK-based Tesco have sought clarifications from the Department of Industrial Policy and Promotion on whether they could set up warehouses in states which are against the Centre's retail FDI policy.
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