Digital category contributed 54.74% or Rs 37,880 crore to the overall retail vertical's revenues of Rs 69,198 crore for FY18 Written By Ashish K Tiwari Reliance Retail clocked revenues of over $10 billion or Rs 69,198 crore during the fiscal 2018 on the back of a strong performance in the digital category comprising consumer and connectivity business. In fact, more than half of the revenue clocked in by Reliance Industries Ltd's retail vertical is contributed by this category alone. As per segmental revenue figures (approximate) for fiscal 2018, shared with DNA Money, at Rs 37,880 crore the digital category is…
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Written By Jonathan Eley and Jim Pickard Walmart to take 42% stake in combined group and £3bn in cash for selling British arm MPs and analysts have warned of the prospect of thousands of job losses and the closure of scores of supermarkets as Britain’s competition regulator gears up for an extended investigation into J Sainsbury’s plans to take over Asda. The UK’s second-biggest food retailer announced on Monday that it would take control of the Walmart subsidiary in a deal that would create Britain’s biggest grocer by market share. US-based Walmart will receive almost £3bn in cash and 42…
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Written By Athira Nair How will the synergy between India’s largest unicorn Flipkart and US retail giant Walmart benefit both parties beyond the obvious goals? Much has been said about Walmart’s purchase of Flipkart, but let’s get some basic facts out first. For Flipkart, this is a strategic sellout. Investors need exit; they had to look for a buyer at some point. For Walmart, this is a long-awaited entry into retail in India, after succeeding in other Asian markets like China and Japan. Although Walmart has been present in India for about 20 years now, as a B2B (wholesale) player,…
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Written By Deepti Govind Bengaluru: Swedish giant Ikea Group’s entry into India will likely accelerate expansion of the country’s organized furniture market. But the company will have to rely heavily on after-sales assembly services rather than the do-it-yourself (DIY) model it uses elsewhere if it is to become really successful, experts said. Source: livemint
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