Mukesh Ambani is eyeing stakes in a host of Indian e-retailers to bolster Reliance’s retail offerings. A number of deals are in the works which, if successful, could help the company compete head-on in a fast-growing online retail market projected to be worth an estimated $170 billion by the end of the next decade.
With the Reliance Industries flagship JIO Mart already having an $8 Billion backing from Facebook and Vista Equity while a further $4 Billion in talks with Google topped by a $1 Billion investment in India by Amazon makes this investment crucial for the survival of Flipkart.
Flipkart recently announced the formal closure of the Jabong fashion portal, thereby making Myntra its sole focus – but the trouble lies in the company’s business model for the Indian apparel industry.
American E-commerce shines bright in the sky while on the ground Retail Indian stares at a Dark Diwali.
Offline retail is suffering amid a country-wide cash crunch, while credit-driven e-commerce giants Amazon and Flipkart soar in 2019 Diwali buying.
Leading e-commerce marketplace Flipkart said on Thursday it is fully compliant with foreign direct investment (FDI) laws and works closely with
Flipkart co-founder and former CEO Binny Bansal has sold $14 million worth of shares in the company to New York hedge fund Tiger Global, according to regulatory filings accessed through data intelligence platform Paper.vc.
BharatPe, India’s leading Fin-Tech Company and the fastest to grow to USD 650 million TPV (with 300 days of operations), today announced the appointment of two senior hires in its product team.
Online giants invest heavily in amplifying their business with experience and variety, and enticing users to buy subscription models at low prices.