Written By ETech Startups and technology companies have welcomed the government’s move to cut corporate taxes. The announcement by finance minister Nirmala Sitharaman on Friday could provide an incentive for many startups to move towards profitability, industry insiders said. “This move will reduce the divergence between capital gains tax and corporate tax substantially, thereby creating an incentive structure for many startups to look for profits,” said Nithin Kamath, chief executive officer, Zerodha, one of the very few large profitable startups from Bengaluru. Many investors in startups sell their stakes at a higher valuation and only pay a lower capital gains…
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Other popular online-first fashion private labels such as StreetStyleStore (SSS) and StalkBuyLove, which were initially operating only out of their own platforms, are also now selling products on Myntra. Written By Devika Singh In the competitive fashion e-tailing segment, smaller e-tailers and online-first private labels are now flocking to the sector’s mega marketplaces in order to survive. Consider how fashion marketplace Voonik, which has pivoted its business model to become a fashion brand, recently launched 350 products on Snapdeal. The start-up also plans to introduce its products on Amazon and Flipkart-owned Myntra. Similarly, premium work wear brand FableStreet started selling…
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According to a report published by RedSeer Consulting, the e-commerce industry witnessed a 64% year-on-year growth to reach $2.3 billion worth of sales (GMV) between the five festive days last year. Hindustan Times E-commerce websites provide heavy discounts to make the most of the festival momentum.(Reuters Photo) Jamshedpur-based Nilanjana Ghosh, 26, who is pursuing a fellowship, likes to buy her regular items whenever she is able to crack the cheapest deal. She generally keeps items such as electronics, books, household requirements, art and craft, interior decoration and costly cosmetics for festive seasons. Apart from these, Ghosh regularly purchases clothes during…
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Written By Deepti Chaudhary Kalyan Krishnamurthy, CEO, Flipkart. The ambitious targets from the e-commerce platform come at a time when several consumption driven sectors are reporting a dip in sales. Bloomberg Walmart-owned online retailer Flipkart hopes to double sales during its flagship Big Billion Day (BBD) event, two people aware of its sales targets said. The company is also aiming a gross merchandise volume (GMV) of about ₹1 trillion (about $14 billion) this fiscal year, up at least 45% from a year ago, the people said on condition of anonymity. According to RedSeer Management Consulting, a research and advisory firm…
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Neighbourhood kirana owners are sprucing up their stores and joining hands with big retailers to meet India’s insatiable appetite for shopping. And consumers are not complaining. Written By ARNIKA THAKUR AND ANSHUL DHAMIJA, It is a hot and humid Tuesday afternoon. One would assume there wouldn’t be too many people out shopping. But Delhi is different. Modern Bazaar in the basement of Select Citywalk, one of the city’s busiest malls, is abuzz with activity. The outlet, the grocery chain’s third store, was set up by Kunaal Kumar in 2011. Later he opened the spruced up version in the basement with…
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