Richa Maheshwari, The Economic Times Bengaluru, 27 December 2016 eBay India, one of the earliest online marketplaces in the country, posted a three-fold jump in sales in 2015-16. However, its losses widened to Rs 262 crore in FY16 from Rs 172 crore a year ago despite various costcutting initiatives. The company posted revenue or income of Rs 392 crore for the fiscal 2015-16, according to its annual filing to the Registrar of Companies. It's revenue stood at Rs 132 crore in the previous fiscal. In comparison, Amazon Seller Services' turnover for the previous fiscal rose 116% to Rs 2,217 crore,…
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Alnoor Peermohamed, Business Standard Bengaluru, 26 December 2016 The contribution of private labels in India’s online shopping segment is expected to triple to around $5 billion in 2017 as e-tailers try to boost earnings and fill gaps in the market in high-margin categories such as fashion, furniture and home decor.Private labels make up less than 10% of online sales today, or around $1.5 billion in value, largely driven by fashion retailers such as Myntra, Jabong and Koovs. Going forward, it is expected that this contribution could grow closer to 20% and will also be driven by high-value items such as…
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Sagar Malviya & Shambhavi Anand, The Economic Times Mumbai/New Delhi, 21 December 2016 Amazon’s largest seller Cloudtail surpassed the country’s largest department chain Shoppers Stop by revenues which grew fourfold during the year to March 2016, highlighting the growing popularity of online buying as well as of Jeff Bezos’ company in India. This has also posed an unusual problem for the world’s largest online retailer which has to slow down sales of its Indian joint venture firm to comply with government norms. Cloudtail, a JV between Amazon Asia and Infosys founder Narayan Murthy’s personal investment vehicle Catamaran, posted over 300%…
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Sapna Agarwal, Mint Mumbai, 14 December 2016 Switzerland’s 165-year-old luxury brand Bally is returning to India in a joint venture with Reliance Brands Ltd, with plans to open its first store at the DLF Emporio mall in New Delhi in March 2017. Under the terms of their agreement, the joint venture will invest in building a world class retail experience by investing in training of staff and opening stores. Bally is the latest addition to the Reliance Brands portfolio which includes Steve Madden, Thomas Pink, Brooks Bro’s, Diesel and Super Dry. The company will establish a network of stand-alone Bally…
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Suparna Goswami Bhattacharya, TechinAsia Bengaluru, 12 December 2016 The entrepreneur overcoming all hurdles to emerge as an icon for millions – that’s the typical positive story startup media is abuzz with. Such narratives are often considered the only way to attain startup goals. In the clamor, we can forget that each startup journey is unique: before tasting success, even successful entrepreneurs have faced failure.The startup narrative can be one-sided, observes Sharad Sharma, co-founder of Indian tech industry think-tank iSPIRT. “So many startups fail, but there’s no focus on those entrepreneurs. Then there are small companies which do not enjoy high…
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