Written By Varsha Bansal Jeff Bezos, chief executive of Amazon.com Inc. India in Amazon's largest market outside of the US. (Mint) Bengaluru: Amazon.com Inc.’s retreat from China will allow the e-commerce giant to free up resources to sharpen its focus on India, its largest market outside of the US. The Seattle-based company will shut down its Chinese marketplace business, while shifting its focus to offer mainland consumers overseas products rather than goods from local sellers, says a Bloomberg report. Amazon’s decision to shut its Chinese marketplace business after struggling to compete with local rivals such as Alibaba Group Holding Ltd…
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Written By Writankar Mukherjee, ET Bureau KOLKATA: India’s largest retailer Reliance Retail’s cellphone and consumer electronics retailing business crossed the $5-billion revenue mark in the year to March, underscoring the breadth of its market presence. Sales in these two categories — which account for about a third of the total — through Reliance Digital and Reliance Jio stores more than doubled to Rs 39,170 crore in FY19 from Rs 15,154 crore in FY18, according to the company’s investor presentation made to analysts. Reliance attributed the growth to having the largest network of stores and enjoying a first-mover advantage in many…
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Written By Writankar Mukherjee, ET Bureau KOLKATA: The investment by Tatas into their e-commerce venture Tata CLiQ pales in comparison to Amazon and Walmart-owned Flipkart. Latest regulatory filings show Tatas invested Rs 292 crore in FY19 in Tata UniStore, the entity which owns the ecommerce marketplace. Though investment was up by 30% from FY18 (Rs 224 crore) as per the filings made to the Registrar of Companies (RoC), analysts said with such low investment it might be difficult for Tata CLiQ to win market share in the Indian e-commerce market with the cash-rich Reliance Retail, too, planning a mega entry.…
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Written By Prasannata Patwa At this price point, Weston LED TVs and Smart TVs will compete with those of Xiaomi. Mumbai: Consumer electronics firm Westway Electronics Pvt. Ltd has launched LED TV sets in the affordable TV segment to cash in on the frenzy around the Indian Premier League (IPL), 2019 Lok Sabha elections and the ICC Cricket World Cup 2019. The company sells its products under Weston TV brand. A 32-inch LED TV starts from ₹12,000 and entry-level Smart TVs are priced at ₹14,000. The brand entered Tamil Nadu, Karnataka and Kerala on 1 April and will enter Andhra…
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Written By Athira Nair & Apurva P Launched in 2016, Bengaluru-based Wakefit is promoting a healthy sleep culture with its mattresses, pillows, and protectors. The firm, which has seen 3x rise in annual revenue since inception, will launch new categories this year and continue to focus on online sales. Tough days should end in a comfortable bed. That’s what Wakefit, a sleep solutions startup, aims to provide. Researched and developed for ergonomically beneficial factors, Wakefit was launched in 2016 and offers mattresses along with other sleep-related products such as pillows and comforters. Wakefit, which claims to have been profitable since…
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