Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
Loses notional value by 37.5% because of markdowns by investors
At present, Flipkart's total seller base is 60,000.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
Reliance Retail's digital commerce platform JioMart will morph into an e-marketplace offering multiple brands - from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery - as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India's largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
Flipkart claims to have more than 90,000 sellers on its platform.
Pilot project in Bengaluru; Snapdeal got into the category last month
The Walmart chief stated that the values of the two companies were "very much aligned"
The strategy these online marketplace companies follow in the next few months will determine whether Amazon gets to be the leader in 2017.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
India's largest online retailer Flipkart on Wednesday announced the addition of two new members to its leadership positions, Vice President of Fashion (Retail) and the Vice President of HR (Supply-Chain).
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
Amazon has increased the commission on non-core segments by 2-9 per cent.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
Consumers are exposed to trends from across the globe and now expect creative as well as unique products.
Currently, Flipkart has tied up with about 5-10 agencies and plans to add 50-60 by the end of this year.
Dabbawalas have been in the profession of transporting lunch boxes.
Several firms are stepping up to help their workforce cope with soaring temperatures
Myntra founder Mukesh Bansal takes over as marketing chief.
Sellers on platform listed products out-of-stock on Monday against increased commission, fees on returns.
Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
Taxing SoftBank, the largest shareholder in Flipkart with a little over 20 per cent stake, however, will be easier.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
According to experts, the company might be trying to ape Amazon, the largest e-commerce player in the world.
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.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
As many as 44 shareholders of Flipkart sold their holdings to Walmart. The income tax law requires the buyer to withhold tax while making payment to the sellers, in case they are not exempted from levy of capital gains tax.
E-retailer Flipkart has signed a memorandum of understanding with the labour ministry for short-term training of its new employees.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
The community has taken offence to being wrongly stereotyped as watchmen in the ad which also plays on an exaggerated Hindi accent to seem funny
Enforcement Directorate sources tell Vicky Nanjappa/Rediff.com that the probe into FDI received by Flipkart continues and a show cause notice will be issued to the online retailer.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
In 2014, the e-commerce industry created about half a million jobs.
Rejig likely every few years to make company flexible to the changing needs of business
A board position requires one to hold at least 3 per cent of the outstanding shares. Binny holds around 5 per cent stake in Flipkart
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