Fashion portal Voonik’s FY16 sales rose twice as fast as its cash burn

For-FAbAlley-Investment-Theory-2_ThinkstockPhotos-525965617Voonik Technologies Pvt. Ltd’s net sales for 2015-16 rose almost forty-fold but losses widened 18 times, as the fashion e-commerce marketplace spent heavily on advertising to attract customers in a sector dominated by Flipkart-owned online retailers Myntra and Jabong. Net sales for the year through March 2016 climbed to Rs 16 crore from Rs 42 […]

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Delhi court restrains sellers from circulating defamatory material against Voonik

For-Lawyers-Story_ThinkstockPhotos-509557490In a relief to fashion portal Voonik, the city court in Delhi has directed disgruntled vendors of the fashion marketplace to not publish or circulate any material that can be termed as defamatory. The court has also asked the vendors to file their responses by 28 February. On 21 January, Additional District Judge Sunena Sharma […]

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Fashion marketplace Voonik in legal tussle with Surat-based vendors

VCCircle_voonik2223In another clash between sellers and online marketplace operators, fashion e-tailer Voonik and a group of Surat-based garment sellers are engaged in a legal battle over non-payment of dues. A group of garment sellers had filed a first information report (FIR) against the fashion e-commerce firm on 7 January 2016. In response, the company dismissed […]

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