Promit Mukherjee and Supantha Mukherjee, Reuters/Yahoo Mumbai, 4 October 2016 India's two largest e-commerce players are looking to use the country's biggest festive sales season this week to bolster their valuations as they seek fresh capital and look to fend off Amazon's growing inroads into the domestic market.For India's Flipkart and Snapdeal, strong sales during India's equivalent of the U.S. Black Friday sales could give both companies some leverage in their current push for investment.With private equity money flows drying up and Amazon.com pledging $5 billion investment to gain ground in India, local e-commerce vendors will be looking to use…
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Vivina Vishwanathan, Mint Mumbai, 3 October 2016 If you are an online shopper, you will find yourself in the midst of the annual festival sales offered by various e-commerce companies. This year, e-commerce companies, such as Flipkart, Amazon and Snapdeal kicked off their annual sales from the first week of October.Flipkart’s Big Billion Days 2016 began from 2 October and will end on 6 October. Day 1 is for fashion, home d�cor, televisions and home appliances. Day 2 is for mobiles and mobile accessories. Day 3 is for all other electronic items and days 4 and 5 are for the…
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Saritha Rai, Business Standard Bengaluru, 29 September 2016 Walmart Stores is in advanced discussions to invest as much as $1 billion (Rs 6,647 crore) into Flipkart Online Services, as the two companies battle Amazon in the e-commerce space, according to a person familiar with the matter. Walmart, the world's largest retailer, would take a minority stake in Flipkart under the proposed agreement, the person said, asking not to be identified because the matter is private. Final terms of the deal have not been worked out and negotiations are still underway, the person said. Flipkart's most recent valuation was about $16…
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The Economic Times New Delhi, 27 September 2014 Until the middle of this year, Noida-based website developer Manusis Technologies worked with about 50 clients a month. The number, the company says, has jumped tenfold since. Two big deals in July changed the landscape for the nation's online retail industry, while also offering more business to providers of support services ranging from website development and payment services to logistics. Flipkart in late July said it raised $1 billion in fresh funding, valuing India's top e-commerce company at $7 billion. A day after, Amazon, the global No.1, pledged $2 billion of investment…
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Nevin John, Business Today New Delhi, 25 September 2016 When mall developer Phoenix Mills Co set up the Palladium Mall in 2010, the intention clearly was to position it as a luxury mall. With high-end brands such as Gucci, Tag Heuer, Michael Kors and The Collective setting up stores, the Palladium Mall promised to be the destination for high-end luxury shopping in Mumbai. However, luxury brands today probably occupy just a fraction of the retail space spread over 400,000 sq. ft. In fact, the financial capital of the country is yet to see a luxury mall. The country has just…
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