“Flipkart said all Walmart's vice presidents will be made directors, and all employees have been told that the role redesignation letter will come by December 3 and people have the option of accepting the offer within five days or take three months’ severance pay to quit,” one of them said.
Selected personnel will be offered customised induction, sensitisation programmes and curated learning programmes to enable a seamless transition and help them learn the nuances of the various corporate job roles, it added. Flipkart's hiring of ex-servicemen will help provide opportunities to new career paths and offer more options post serving in the armed forces, it said.
In July, Flipkart announced the acquisition of Walmart India for an undisclosed amount, and launch of 'Flipkart Wholesale' to tap into the USD 650 billion B2B retail market in India.
In a statement, Walmart said its 'international' segment's net sales were at USD 29.6 billion, an increase of 1.3 per cent, and that changes in currency rates had negatively affected net sales by approximately USD 1.1 billion.
USPL's flagship brand, Wrogn is a men's casual wear brands that have been among the leading brands on Myntra (Flipkart group company) over the last few years, the statement said.
Last month, the consumer affairs ministry had issued notices to e-commerce majors Flipkart and Amazon for not displaying such information.
"Over the last year, Flipkart Samarth saw a 12x growth in the number of partners who joined the programme. These artisans, who became part of Flipkart's annual festive season sale this year, saw a 2.5x increase in comparison to their usual non-festive sale days," a statement said.
Senior advocate Anand Grover and advocate Samyak Gangwal, appearing for Sethi, told the court that the effect of the impugned rule was that every business enterprise which is not a company is excluded from the e-commerce space or they will have to sell through platforms like Amazon or Flipkart.
The BIS, which lays down norms with regards to quality and safety of goods sold in the country, has been in discussion with various stakeholders to lay out standards for several issues ranging from standardisation of invoices and websites.
As the festive season in India approaches, e-commerce websites have decided to up the ante by offering attractive discounts and a variety of products. Amazon’s Great Indian Festival 2020 sale will begin at midnight of October 16 for Prime users and from October 17 for everyone else. While Flipkart Big Billion Days 2020 sale will start at noon October 15. Here are four products that you can opt for and make your shopping worthwhile.
Last Sunday, the SIAC passing an interim award in favour of Amazon had asked the Future group to put the deal on hold and said that the deal cannot go through until it finally decides the matter.
These e-commerce portals were selling products like Khadi masks, herbals soaps, shampoos, cosmetics, herbal mehandi, jackets, kurta and many such products through different sellers using this brand name.
Amazon has often faced regulatory challenges in India. Last year, the government enforced strict rules for foreign investment in e-commerce which forced the U.S. retail giant to rework its business structures and strained ties between New Delhi and Washington.
Flipkart has partnered with Max Fashion, the largest clothing retailer in India, to expand its fashion portfolio ahead of festive season sale.
CAIT wrote to Commerce Minister Piyush Goyal in this regard urging him to prohibit Aditya Birla Fashion and Retail Ltd from directly or indirectly selling its inventory on the marketplace platforms owned/controlled by the Flipkart Group.
With consumers now investing more in creating their own comfortable space at home, there is a notable increase in the demand for ergonomic furniture across furniture segments, said a Flipkart official.
India's biggest shopping season is at the time of the festivals of Durga Puja and Diwali, which fall 20 days apart in October-November each year. Traditionally, this is a time when houses are re-decorated, big-ticket items purchased, feasts held and gifts exchanged.
CoD has traditionally constituted as much as 70% of all e-commerce transactions. During the early days of the pandemic, CoD transactions fell sharply, as most leading online marketplaces discouraged physical contact on home delivery, although it has picked up since.
Pandemic woos new shoppers from small cities, offline retail slump helps e-commerce, the report said.
Reliance Digital, India's biggest retail chain by revenues, said it has grown business by 30-40% in August and September compared to a year ago, indicating the continuing demand revival in smartphones, televisions and refrigerators on a month-on-month basis.
The sale will feature products in fashion categories across more than 50 brands, more than 100 sellers and one lakh members, the newly-launched B2B marketplace said in a statement.
The partnership will provide Max Fashion with wider market access as its products across categories, including apparel and accessories, footwear, will be available in newer geographies and pin codes.
As the pandemic has forced Indians to stay indoors for months, making them consume more videos on their phones than ever, e-commerce companies of Myntra, Flipkart's 2Gud and Paytm Mall are intensifying their customer engagement programmes and making their sites even more interactive with digital content and videos.
CPCB said the show cause notice under Section 5 of the Environment (Protection) Act, 1986, has been issued to these units on October 8, for closure of their operation and environment compensation for non-compliance of provisions of Plastic Waste Management (Amendment) Rules 2018.
A one-man arbitration panel heard the plea of Amazon and Future Group last week and a verdict is expected in a few days, according to sources.
According to two senior government officials, the idea is to make sure that artisans can directly sell their products to consumers, eradicating middlemen.
Top corporates such as LG, Samsung, Hindustan Unilever, Apple, ITC, Reliance Retail, Aditya Birla Fashion, Arvind Fashions, Levi's and Domino's saw ecommerce sales increase significantly as consumers increasingly bought from home amid the pandemic, leading to a surge in first-time online shoppers.
Both companies expect their sales to outpace existing fulfilment centres and are looking for incremental storage areas for the next few months, until they develop their own facilities.
With farm sector seen as a key support to growth against the mayhem triggered by the pandemic, these companies sense an opportunity to increase sales betting on rural and small town India.
Several models of LG, Samsung, Lenovo, Bosch, Siemens, TCL, Kodak and Thomson are no longer available. Online-focused brands such as Vu have just half of last year's stock while BPL hasn’t featured at all on the marketplaces this festive season, four industry executives said
After buying a significant minority stake in Arvind Youth Brands, which owns the Flying Machine denim brand, Walmart-backed Flipkart Group is now in talks with American clothing company Kontoor Brands for the brand rights of Lee and Wrangler in India, sources said.
Walmart-owned Flipkart had introduced Hindi interface for customers last year, and added Tamil, Telugu and Kannada in July this year. Smaller rival Snapdeal on Monday announced that its app is now available in eight languages, including Hindi, Tamil, Kannada, Telugu, Malayalam, Gujarati, Punjabi and Marathi, in addition to English.
A bench comprising Justices A M Khanwikar, Dinesh Maheswari and Sanjiv Khanna asked the Competition Commission of India (CCI) to approach the High Court for relief.
The deep discounting play will largely be on private and exclusive brands such as its own fashion labels, apart from electronic goods from BPL, Kelvinator, Sharp and others. Prices will be lower for mainstream electronic and smartphone brands too, they added. Companies like Apple and Samsung have said in the past that they do not control pricing on any channel as per Indian laws.
Till last year, the total bank discount used to be uniform in the total sale period and used to range up to Rs 2,000. Instant bank discounts lures consumers to shop more to avail bigger benefits and ensures returns or last minute cancellations are at a minimum.
Bengaluru-based Flipkart also said that there has been a perceptible shift towards consumers adopting digital payment instruments, with prepaid transactions recording a 75% increase. “One out of every 5 purchases in high-ticket segments like mobiles, furniture, large appliances & electronics were driven through an EMI construct,” Flipkart said in a statement.
Most of the hiring by e-commerce platforms ahead of festive season is temporary and done ahead of time to prepare for surge in orders during the various sale periods.
"Flipkart's team initiated contactless onboarding of kiranas through online application. This enabled seamless onboarding without them having to step out during COVID-19 times," a company statement said.
Apple products, such as iPhones and iPads, are sold at up to 12% discount in the online marketplaces and even the webstore of top retail chains like Reliance Digital and Croma. Discounts tend to be higher during busy shopping days, like the upcoming festive season.
Banks and non-banks have tightened eligibility for loans to third-party ecommerce sellers, inducing a demand-supply constraint in working capital loans to online sellers, according to multiple players, executives and industry watchers.
People familiar with the talks said the salt-to-information technology conglomerate has held initial discussions with online marketplace Snapdeal, publicly traded business-to-business etailer IndiaMART and egrocer BigBasket with the intention of picking up stakes and bulk up its digital presence.
Piling inventory forces seller's hand, this sale season's discounts set to touch levels not seen in years
Sellers have not been able to clear stocks. High inventory levels and the willingness of sellers to dump stocks to free up working capital could drive down prices on ecommerce platforms to levels before the heydays of the ecommerce market’s growth in India in 2015 and 2016.
The outcome of a legal dispute which has embroiled the billionaires' Amazon.com and Reliance Industries Ltd empires - where a court ruling is imminent - may shape India's retail landscape for years to come.
Amazon’s two-day sale will be its first large promotional event since the easing of the lockdown. Flipkart’s four-day event will focus on electronics, appliances and fashion.
Flipkart said its hyperlocal service, dubbed Flipkart Quick, will also sell mobile phones and stationery items, taking it a step further than existing quick-delivery services which mainly offer just groceries. Flipkart Quick will debut in select locations in Bengaluru, the company said, without specifying a launch date.
The combined sales on Flipkart Group and Amazon accounted for more than 90% of the ecommerce industry's gross sales of around Rs 29,000 crore during October 16-21.
The Bengaluru-based company said while direct job opportunities will be created across Flipkart's supply chain, including roles like delivery executives, pickers, packers and sorters, there will also be additional indirect jobs created at Flipkart's seller partner locations and kiranas.
Personal and non-personal data policies, the consumer protection Bill and various taxation policies are in the works that affect online commerce, social media and Internet companies in India.
Reliance Trends and Reliance Digital including My Jio Store were the top brands advertised by the conglomerate. From ranking 162 in the list of top advertisers on TV, according to Adex data, Reliance Retail moved to the 32nd spot this year during July-August period.
After a gap of almost four months, e-commerce giants resumed online sales beginning June, addressing continued demand from customers for home essentials including electronics and appliances.
Goteti started his career in 2012 as a director of the books and eBooks segment. He currently leads customer growth and monetization as senior vice president.
Several ecommerce and online delivery companies, including Amazon, Flipkart and Ecom Express, are hiring female delivery agents and riders as they are seen to be “more disciplined” and log far fewer leave days than their male counterparts.
In a registrar of companies filing, the local unit of Swedish retailer said it will issue debentures to IKEA Asia Treasury Centre Limited for Rs 550 crore as the first tranche.
Online shopping beyond Amazon, Flipkart: Scores of brands are taking their products directly to customers
If you thought the massive growth in online sales was limited to only Amazon and Flipkart, think again!
The acquisition will also see the gaming team from Mech Mocha, which runs a vernacular social gaming platform Hello Play, joining the e-commerce major.
Reliance group’s JioMart – which only started this year and is still in the beta phase – has had delivery snafus and refund delays, and some users haven’t been shy about venting on Twitter. All that means winning big against Walmart and Amazon could take years.
With this partnership, Max will have a wider market access for its garments and accessories and Myntra will target the sweet spot for value-conscious customers across tiers to strengthen its position in the online fashion ecosystem.
Scapic's no-code platform helps create immersive experiences across categories such as fashion, furniture & electronics. It enables the creation and publishing of AR and 3D content.
The court also said that the issue of maintainability of the suit, raised by Amazon, would be kept open. The order was passed after hearing day-long arguments on behalf of FRL, FCPL, Reliance and part arguments by Amazon. The arguments on behalf of Amazon will continue on Wednesday. .
Last week, Flipkart announced the launch of its hyperlocal services called ‘Flipkart Quick’ in various parts of Bengaluru, where consumers can book a two-hour delivery of about 2,000 products like grocery, fresh items and smartphones, among other electronic items.
Five executives aware of the business projections said the two companies expect consumers will increasingly do their festive-season shopping online due to the pandemic, a trend evident in the success of recently concluded promotions earlier in the month.
Daniel López, director of expansion and franchises of Mango, said, “Myntra is an ideal partner since it has the capacity and the expertise to develop an omnichannel strategy in India, one of the markets with the greatest potential in the world.”
Flipkart held an 'Independence Day Sale' from August 6-10, where sellers on the platform witnessed significant business growth. About 8,000 newly onboarded sellers participated in their first sale event and over 450 of them became 'lakhpatis' over these five days, Flipkart said in a statement.
The acquisition of Future Group's 2,000 retail stores and Big Bazaar grocery chain will help Reliance, which sells everything from groceries to electronics through 11,000-plus stores, to broaden its extensive reach across the country.
"With this expansion of Amazon Fresh, the company now has more than 25 such Amazon Fresh centres, with a three-fold increase in processing space," company officials said.
Last month, the actress made a personal investment in Nykaa.
According to the state government, the partnership with the Industries and Commerce Department under the ‘Flipkart Samarth’ programme will enable national market access for Assam’s artisans, weavers, and craftsmen, allowing them to showcase their hallmark products on Flipkart’s marketplace.
Festive sales are expected to almost double this year and touch USD 7 billion in gross merchandise value (GMV) as compared to USD 3.8 billion in the same period last year, according to a report by research firm RedSeer.
The season will be dominated by a fight for market share among three big online platforms — Amazon, Walmart-owned Flipkart and new entrant Reliance JioMart. Also expected to gain from the boom in online buying are e-grocers BigBasket and Grofers, furniture etailers such as Pepperfry, beauty and grooming platform Nykaa, and baby care platform FirstCry.
Five industry executives said these companies increased sales by up to 30% during the entire festive season — covering Onam, Navratri, Durga Puja, Dussehra, Karva Chauth, Dhanteras, Diwali and Bhai Dooj — over the same period last year.
Flipkart may have the edge; move may bring in ecomm firm as strategic partner
Flipkart will host its annual 'The Big Billion Days' sale from October 16-21, while Myntra will hold its 'Big Fashion Festival' between October 16-22.
To take on Reliance JioMart, Flipkart, Amazon and others starting big sales early this year. These platforms are looking at the last week of September to begin the special festive sales, which will continue all the way till Diwali in the second week of November, brands told ET.
Certain practices are not in the right spirit of the law, which always create a distorted picture of competition; that is a non-ideal situation for us.
Walmart has long been scouting for a viable and competitive business model for the Best Price brand, which consists of 28 stores and ecommerce operations.
For the retailers, such partnerships with e-commerce is helping to liquidate inventory considering shopping has majorly moved to e-commerce post Covid, they said.
The All India Organisation of Chemists and Druggists (AIOCD), which claims to represent 8.5 lakh chemists, on August 14 wrote to Bezos and his India CEO Amit Agarwal saying the online pharmacy space "has been marred by extreme controversies, court cases, and legal issues in last few years."
The festive season sees Amazon India and Flipkart compete head on and roll out a number of offers and schemes to woo customers to shop on their platforms.
While 74% transactions took place digitally, a mere 26% happened offline.
According to the company, its net sales and operating results were "significantly affected" by a continuation of the global health crisis. However, increased demand for products across multiple categories led to strong top-line and gross margin results, it added.
Sends notices asking companies to explain in 15 days why they shouldn't face action over missing information
The investment in USPL comes within a fortnight of Flipkart acquiring a 7.8% stake in Aditya Birla Fashion & Retail (ABFRL).
The increase in online channels share is due to a shift in consumer behaviour, who are now preferring contact-less shopping experience and practicing social distancing, according to the Counterpoint report.
Market Intelligence firm Counterpoint is estimating a 20-25% drop in November and further decline in December. Month-on-month sales is usually down straight after Diwali, but the downside this year could be sharper given that peak demand in the lead up to the festival was the highest ever, analysts say.
Flipkart, majority-owned by Walmart Inc, also announced the launch of Flipkart Wholesale as part of the deal. Financial terms for the deal were not disclosed.
As part of the MoU, IIT-Patna will undertake a number of programmes such as joint research activities, writing research papers, organising seminars and internship/mentorship opportunities, according to a statement.
W for Woman, Benetton, Pepe, Jack & Jones, Inglot among dozens of other labels are currently either piloting or upgrading their technologies to bring their store inventories on those e-commerce platforms, companies and sources said.
The case presents a new regulatory challenge for Amazon in India, where it has committed $6.5 billion in investment but is battling a complex regulatory environment. The group alleges that Amazon India's wholesale arm buys goods in bulk from manufacturers and sells them at a loss to sellers such as Cloudtail.
Newly-launched products like Mi Watch Revolve and Mi Smart Speaker were amongst the top favourites for consumers, while Mi Box 4k and Mi TV Stick continued to be the top selling streaming devices across Amazon and Flipkart, the company said in a statement.
Over the weekend, Amazon won an injunction from a Singapore arbitrator to halt FRL's deal to sell assets to Reliance. Amazon alleged FRL had breached certain contract provisions it entered into last year in a separate deal with the American firm.
The Mumbai-based group is stepping up efforts to have a significant presence online. Reliance just finished raising more than $20 billion from investors, including Facebook Inc. and Google, for its digital services platform, while Amazon founder Jeff Bezos has bet $6.5 billion on growth in the world’s second-most populous country.
Flipkart, which has been a laggard in the grocery segment compared to its main rival Amazon, is using Ninjacart's supply of fresh produce to power its online grocery service Supermart and hyperlocal delivery service Flipkart Quick.
At leading brick-and-mortar retail chains including Reliance Retail, Tata-owned Croma, Vijay Sales and Sangeetha Mobiles, too, debit and credit cards, wallets, UPI and consumer finance together have become the choice for payment by consumers.
The Confederation of All India Traders (CAIT) wrote to Commerce Minister Piyush Goyal in this regard urging him to prohibit ABFRL from directly or indirectly selling its inventory on the marketplace platforms owned/controlled by the Flipkart Group.
Amazon founder and CEO Jeff Bezos can't "guarantee" if the e-tailer has not used third-party seller data to aid its private label business, even though it has a policy against the practice, he said at a US Congressional hearing on Wednesday.
Flipkart is exploring partnerships with modern retail brands if they have complementary capabilities, said Krishnamurthy
For the world’s most valuable retailer Amazon, it is important that it drags Future Group to court for breaching an international contract so that it does not set a precedent which could be used against it in other countries, said two persons aware of the developmen
Reliance Retail acquires 96% equity in online furniture retailer for Rs 182 crore in ‘distress’ sale
Walmart’s Indian ecommerce unit Flipkart Group is estimated to have posted a little over double the sales of closest rival Amazon in the first week of the ongoing festive period claimed a report by market tracker RedSeer Consulting."We cannot comment on speculative reports without transparent methodology," an Amazon India spokesperson said in an emailed response to ET’s request for comment on the report’s findings. Flipkart did not respond until press time Monday.Flipkart Group takes massive lead over Amazon in first week of the online festive sale