The Ayurveda Experience (TAE), a direct-to-consumer company specialising in Ayurvedic beauty and wellness goods, raised USD 27 million in a fundraising round headed by Singapore-based venture capital firm Jungle Ventures. Investors in the round included SIDBI Ventures, Anicut Capital and Sharrp Ventures (part of the Mariwala Family Office, which operates the consumer products company Marico). […]
BigBasket, a grocery e-tailer, has created a new frozen food brand called Precia in conjunction with chef Sanjeev Kapoor, according to a press statement issued on Tuesday. Precia will provide three product categories: frozen veggies, frozen nibbles, and frozen sweets, according to the statement. “We aim to redefine the landscape, meeting the growing demand for […]
The Unified Payments Interface (UPI) service has been made available by ecommerce giant Flipkart for both online and offline payments made both inside and outside of its app. Flipkart, which says it has over 50 crore registered users and 14 lakh sellers on its marketplace, would be able to rely less on third-party UPI apps […]
Myntra has received a significant investment of USD 54 million from its parent company, Flipkart. The injection of funds comes at a critical juncture for Myntra, as it faces intensified rivalry from competitors such as Reliance’s Ajio and Tata Cliq. The funding was disclosed through regulatory filings in Singapore and is the second such major […]
Flipkart and Chinese smartphone manufacturer OnePlus have been fined Rs 30,000 for marketing a used phone as new. In addition to the penalties, the State Consumer Disputes Redressal Commission in Chandigarh has ordered that the firms repay the whole money paid by the complainant, Ashwani Chawla. Padma Pandey and Preetinder Singh, commission members, presided over the […]
Two US Senators, Sherrod Brown and Rick Scott, are advocating for a significant crackdown on the influx of duty-free packages from China into the United States. They have called upon President Joe Biden to take executive action to address what they perceive as an unfair advantage given to Chinese products. In a letter to President […]
the ecommerce platform Flipkart has opened its fourth grocery fulfilment facility in Malda, West Bengal, according to the company’s press release. According to the statement, the hub would create over 700 direct and indirect local employment while also offering countrywide market access to thousands of local retailers, MSMEs, and small-scale farmers. The fulfilment hub, which […]
Snapdeal, an ecommerce platform, further strengthened its value lifestyle portfolio to cater to the increasing demand for branded merchandise at affordable prices. The company has on-boarded a diverse array of lifestyle brands offering quality merchandise targeted at value-savvy consumers. Snapdeal’s new fashion lineup features an impressive roster of brands, including Jockey, Rosaline by Zivame, Varanga, […]
India will resist US and European plans to prolong a global ban on cross-border ecommerce charges at the World Trade Organisation conference next week, fearing a continuous massive revenue loss, news agency Reuters reported. New Delhi, South Africa and Indonesia want poor countries to be able to tax cross-border electronic communications and India will advocate […]
Indian ecommerce giant Flipkart has been engaged in discussions in recent weeks regarding a potential acquisition of Dunzo, the hyperlocal delivery startup backed by Reliance Retail, according to media reports. However, complexities surrounding Dunzo’s ownership structure have reportedly posed challenges in finalising an acquisition deal, as per a media report. Despite these challenges, talks between […]
