Flipkart, Amazon to bet big on fashion in 2017

TC-lead-flipkartIndian e-commerce heavyweights Flipkart and Amazon India are aggressively focusing on the high-margin fashion segment as they aim for profitability in the long run. Both Amazon India and Flipkart are expanding their private labels in addition to exploring more exclusive brand partnerships to open up more revenue opportunities in fashion, one of the fastest growing […]

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Flipkart relying on fashion vertical to turn profitable

FlipkartOnline marketplace Flipkart expects its fashion business to turn profitable by the middle of next financial year, according to a report by a financial daily. The company’s chief executive officer Binny Bansal said that Flipkart Fashion would be profitable on EBIDTA level by FY2018, according to The Economic Times. “We will be getting into fiscal […]

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Myntra targets $2 bn revenue run rate, profitability in FY18

myntra_feFlipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has been the best year we have had so far. We […]

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Ajit Narayanan is the new CTO of Flipkart-owned Myntra

Ajit-Narayanan_feBengaluru-based fashion e-tailer Myntra Designs Pvt Ltd’s chief technology and product officer Shamik Sharma has moved on to an advisory role and Ajit Narayanan has been appointed as the new CTO of the Flipkart-owned firm. Narayanan was formerly the head of engineering at the Mukesh Bansal-founded fashion portal. A Myntra spokesperson confirmed the development, without […]

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Flipkart may hire I-bankers to raise funds

VCCircle_Flipkart8India’s biggest e-commerce marketplace Flipkart India Pvt. Ltd is reportedly in talks with several investment banks, including the US-based Goldman Sachs Group Inc. to attract investors for a new round of funding. In a report, the Mint on Friday said that the Bangalore-based company “is now considering appointing an investment bank for the first time […]

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Jabong sees top-level exits three months after Flipkart buy

Jabong_feBengaluru-based Flipkart-owned fashion marketplace Jabong’s chief marketplace officer and head of human resources have quit the firm, just three months after the firm was bought out by Flipkart’s fashion and lifestyle brand Myntra. “Chief Marketplace Officer, Ranjan Kant and HR Head Deepa Chadha have both decided to pursue other career opportunities,” a spokesperson said in […]

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Amazon hikes seller commission charges for some categories

Amazone_shshJust as Flipkart claims victory over Amazon in terms of sales in the festive month of October, the Indian arm of the US-based retail giant has made a strategic move to raise the commission charges from sellers for categories like electronic devices and automotive accessories. In its latest revision of commission rates, Amazon has hiked […]

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Amazon offers better customer experience than Flipkart: Forrester report

Amazon-FlipkartThe Indian arm of the US-based online retailer Amazon has been able to offer better customer experience (CX) than its home-grown rival Flipkart in the Indian market where the two ecommerce marketplaces have long been engaged in an intense battle for supremacy, according to a report by Forrester. According to Forrester’s India Customer Experience Index […]

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Rocket Internet finds one-size-fits-all doesn’t work

Rocket_internetRocket Internet, the German internet venture builder, may have made certain miscalculations “in putting trust in everyone” while doing business in India, said a senior global executive while speaking at a startup event in Bangalore on Thursday. Rocket Internet – which operates on a venture builder model where in it hires key executives as co-founders […]

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FabAlley.com raises $2 mn Series A funding

FabAlleyHigh Street Essentials Pvt Ltd, the company that owns and operates FabAlley.com, an online fashion brand exclusively for women, has raised $2 million (Rs 13.42 crore) in Series A round of funding led by India Quotient. FAO Ventures, Indian Angel Network (IAN) and a group of angel investors including Tushar Singh and Ranjan Sharma also […]

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