Page 6 - E-commerce Industry
Flipkart acquires ANS Commerce to strengthen its e-commerce ecosystem
Post the acquisition ANS Commerce will continue to operate as an independent e-commerce solutions platform under its existing leadership team, Flipkart said in a statement
 "Flipkart acquires ANS Commerce to strengthen its e-commerce ecosystem")
Pratech Brands raises $3 mn led by Sequoia's 'Surge' to launch Hyugalife
Hyugalife will host over 1,000 brands across categories, including women's health, Ayurvedic and plant-based supplements, kids health, sports nutrition, vitamins, among others
 "Pratech Brands raises $3 mn led by Sequoia's 'Surge' to launch Hyugalife")
What Nykaa CEO says about VCs without women in key positions
Nykaa CEO at a FICCI event said that the founders of her company approached several investors but were rejected because of the absence of women in key positions in venture capitalist firms
 "What Nykaa CEO says about VCs without women in key positions")
Need to protect consumers, small retailers amid growth in e-commerce: Govt
Consumer Affairs Secretary Rohit Kumar Singh on Tuesday stressed that there should not be a situation of monopoly by large e-commerce players like Amazon and Flipkart
 "Need to protect consumers, small retailers amid growth in e-commerce: Govt")
 "Aharon Bernal's Blockchain Platform Heralds New Equitable Era in E-Commerce")
CoutLoot: A digital platform for bargain hunters across Bharat and India
The firm allows buyers and sellers pan-India to haggle over price and terms in as many as 12 languages on chat platforms, is now planning video-enabled bargaining too
 "CoutLoot: A digital platform for bargain hunters across Bharat and India")
How Flipkart is collaborating with academia to solve problems for Bharat
Flipkart is deepening ties in social commerce, machine translation, search and natural language processing with top institutes in the country as it aims to tap next 200 million users.
 "How Flipkart is collaborating with academia to solve problems for Bharat")
Shiprocket set to acquire 75% stake in customer data platform Wigzo Tech
E-commerce shipping firm Shiprocket on Friday said it has committed to acquire a 75 per cent stake in customer data platform (CDP) Wigzo Tech.
 "Shiprocket set to acquire 75% stake in customer data platform Wigzo Tech")
Credit card spends dip 11.6% in November after record show in October
November spends are still higher than pre-Covid levels, with 43% YoY growth
 "Credit card spends dip 11.6% in November after record show in October")
Direct-selling companies can't promote pyramid scheme, says govt
The direct sellers as well as the direct-selling entities using e-commerce platforms for sale will also need to comply with the requirements of the Consumer Protection Rules, 2020.
 "Direct-selling companies can't promote pyramid scheme, says govt")
Has 2021 been a watershed moment for India's e-commerce industry?
New forms of online distribution and business models like live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech and D2C roll-up have made their mark this year
 "Has 2021 been a watershed moment for India's e-commerce industry?")
Ananth Narayanan-led Mensa Brands acquires home decor label Folkulture
Deal value undisclosed; Folkulture retails largely on Amazon in North America and UK; is recognised for unique and elegant crafts, designed to embellish modern homes with a hint of bohemian culture
 "Ananth Narayanan-led Mensa Brands acquires home decor label Folkulture")
Mensa, house of D2C brands, raises $135 mn to become Asia's fastest unicorn
Within six months of starting the business, Bengaluru-based Mensa has raised more than $300 million in equity and debt
 "Mensa, house of D2C brands, raises $135 mn to become Asia's fastest unicorn")
China's 'Lipstick Brother' livestream logs $2 billion in a day
Li, who earned his nickname by trying on various makeup products on his show, pre-sold 12 billion yuan in products ranging from Shiseido lotions to Apple AirPods
 "China's 'Lipstick Brother' livestream logs $2 billion in a day")
Indian e-commerce sales could grow by up to 60%, hit $84 bn in CY21: study
EasyEcom report predicts 32-68% spike in festive season demand; electronics the top category in this space, with 34% share of GMV in CY2020, likely to hold fort going forward
 "Indian e-commerce sales could grow by up to 60%, hit $84 bn in CY21: study")
Ananth Narayanan-led Mensa Brands invests in 10 fashion and beauty brands
Over the next three years, Mensa will acquire over 50 brands across categories including home, garden, apparel, personal care, and beauty
 "Ananth Narayanan-led Mensa Brands invests in 10 fashion and beauty brands")
India, Australia to include e-commerce in final free trade pact
India and Australia have agreed to include e-commerce in the final free trade agreement which is likely to be put in place by the end of next year
 "India, Australia to include e-commerce in final free trade pact")
 "Dukaan®, a Leader in E-Commerce Enablement Space, to Hire 100 Engineers to Strengthen its Product and Offerings")
How Amazon Web Services is working with Govt to take on the Covid challenge
NITI Aayog Frontier Technologies CIC, set up in partnership with AWS, to work on initiatives like telemedicine, safe air travel and reaching critical supplies to patients and frontline workers
 "How Amazon Web Services is working with Govt to take on the Covid challenge")
Govt-appointed panel to meet on modalities of open network for e-commerce
The discussions and meetings will begin soon to allocate work to various agencies that will be involved in developing the platform, said an official in the know
 "Govt-appointed panel to meet on modalities of open network for e-commerce")
