Gulveen Aulakh & Jayadevan PK, The Economic Times Bengaluru/New Delhi, 12 January 2015 Inside a four-storey office in Noida's Sector 5, Vijay Shekhar Sharma, the founder of One97 Communications, pointed to a sign on the glass wall of a conference room — "Go big, or go home," it said, adding, "One million orders a day will happen here first. That's our vow. That's our game." In the reception below, a dozen-odd job aspirants were waiting to be interviewed. That was in mid-September. On Sunday, ET reported that Chinese ecommerce giant Alibaba is set to invest $575 million in One97 Communications-owned…
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Nevin John, Businessworld New Delhi, 26 December 2014 The Annual General meeting (AGM) of Reliance Industries (RIL) on 18 June 2014 was significant. RIL chairman Mukesh Ambani’s wife Nita was inducted to the board of the $67 billion petroleum giant with the overwhelming support of shareholders. She is the first woman from the family to join the key decision-making body. Four months later, on 11 October, RIL subsidiaries — Reliance Jio Infocomm and Reliance Retail Ventures — announced the appointment of Ambani scions, daughter Isha and son Akash, to their boards. The induction of family members to the boards of…
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Sharleen D'souza , Business Standard New Delhi, 25 December 2014 Mandhana Retail Ventures, the retail arm of Mandhana Industries, which holds the licence for the brand Being Human, plans to dig its heels in building more brands. While its parent company exports textile and garments to popular global apparel brands, Being Human was its first brush with retailing in its home market. Licensed out by a charitable trust under the same name set up by Bollywood actor Salman Khan, the Mumbai-based garment and textile manufacturing company demerged the retail business in November, 2014. It has set the stage for the…
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Arpita Mukherjee, Business Today New Delhi , 19 December 2014 In a bid to strengthen their presence in the e-commerce sector, large players such as Amazon, Snapdeal and Flipkart are likely to look at acquiring companies with niche, differential capabilities, say industry analysts. With the recent acquisition of gifting technology platform Wishpicker by Snapdeal and reports about its acquisition of online order management platform Unicommerce, experts feel e-commerce players are looking to benefit from the vertical capabilities that such companies have on offer. "Snapdeal will be able to leverage Unicommerce's platforms to achieve in-depth visibility into its vendor profiles in…
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Sagar Malviya & Snigdha Sengupta, The Economic Times Mumbai, 18 December 2014 Despite an online shopping frenzy in the country and large investors stepping in to fund several online retailers, most e-commerce players are yet to turn their click-and-buy model into big businesses as the big ones steal the show. While nearly half a dozen shopping portals such as Zovi, FashionandYou, Yepme and Shopclues have doubled their sales since the last two years, they are yet to reach the Rs 100 croresales mark, and pale against the likes of Flipkart, Snapdeal and Jabong that clocked anywhere between Rs 500 crore-Rs…
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