Online Retail

Vietnam suspends Chinese online retailer Temu as it fails to register

Vietnam has suspended the operations of Chinese online retailer Temu after it failed to meet a government deadline to register the company by the end of November. It is unclear if Temu, a unit of Chinese e-commerce giant Pinduoduo, will be allowed to resume its business once it registers. The suspension comes after the ministry had raised concerns about the authenticity of Temu's extremely cheap products and their impact on Vietnamese manufacturers. Temu said Thursday it was working with the Vietnam E-commerce and Digital Economy Agency and the Ministry of Industry and Trade to register its e-commerce services and had submitted required documents. Temu began selling goods in Vietnam in October with aggressive discounts and free shipping. The government had warned the company that its app and website would be blocked if it did not register before an end-of-November deadline, official Vietnam News Agency cited the Ministry of Industry and Trade as saying. On Thursday, Vietnamese ...

Shein likely to hold informal investor meet ahead of planned London IPO

Shein confidentially filed papers with Britain's markets regulator in early June, kicking off the process for a potential London listing by the company later in the year

Online retailers gear up for festive showdown; expect record-breaking sales

While Flipkart aims to meet the demand surge with same-day delivery from its 20,000+ SKUs in 20 cities, Amazon plans to showcase millions of products from 1.6 million sellers across various categories

Carrefour looking to export from India in next five years: Lasfargues & Ved

In an exclusive interview Patrick Lasfargues, international partnership executive director, Carrefour and Nilesh Ved, owner of Apparel Group spoke about French retail major's plans for the Indian mkt

Samir Kumar named Amazon India's country manager after Manish Tiwary's exit

Samir Kumar will take on the new role from October 1, 2024, while continuing his existing responsibilities in leading Amazon's consumer businesses across the West Asia, South Africa, and Turkey

Licious expands offline presence, plans to open 25 stores in FY25

Licious plans to first establish a strong offline presence in Bengaluru before expanding to cities like Chennai and Mumbai

Kishore Biyani's nephew Vivek Biyani launches retail chain for D2C company

Broadway to house over 100 Indian D2C brands offline in a content-to-commerce model

Amazon Prime Day a big event for scammers, experts warn customers

Amazon Prime Day is here, and experts are reminding consumers to be wary of scams. Deceptions such as phony emails from people impersonating online retailers like Amazon are nothing new. But phishing attempts increase amid the heavy spending seen during significant sales events, whether it's Black Friday or Prime Day, according to the Better Business Bureau. This is a huge moment on the retail calendar," Josh Planos, vice president of communications and public relations at the Better Business Bureau, previously told The Associated Press. "And because of that, it represents an enormous opportunity for a scammer, con artist or even just an unethical business or organization to capitalize on the moment and separate folks from their hard-earned money. Prime Day, a two-day discount event for Amazon Prime members, kicks off on Tuesday and runs through Wednesday. In updated guidance published last week, the Better Business Bureau reminded consumers to watch out for lookalike websites, ...

Retail giant Amazon adds Grubhub food delivery to its website, app in US

As part of the agreement, Amazon Prime members will continue to be eligible to avail a free Grubhub+ membership worth $120 a year, which includes free delivery on orders above $12

Ebay cutting 1,000 jobs, it's latest tech company to reduce workforce

Online retailer eBay Inc will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry. CEO Jamie Iannone said in a message to employees on Tuesday that the company also will reduce how many contracts we have within our alternate workforce over the coming months. Those who are being laid off will be told through Zoom calls with their bosses, Iannone said, requesting that people work from home Wednesday to allow privacy for those conversations. We need to better organise our teams for speed allowing us to be more nimble, bring like-work together, and help us make decisions more quickly, he said in the note, which was posted online. These changes are difficult, but I'm confident that by working together we will become stronger than ever, Iannone added. San Jose, California-based eBay is the latest tech company to

Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses

China's cyberspace body reviewing Shein's data handling practices: Reports

The government is also interested in the type of Chinese data that the company will disclose to regulators in the U.S. as Shein seeks a listing there, the newspaper reported

Early Diwali: Fomo, premiumisation light up e-commerce festival sales

The second half of Week 1 Festive Sale could see strong momentum by low-ASP categories as well

Mutual funds' retail asset growth pips the overall AUM, shows data

Among the top 10 fund houses, Kotak Mahindra MF and Mirae Asset MF logged the highest growth in retail assets at 70 per cent and 66 per cent, respectively

Piyush Goyal meet e-commerce firms, CAIT to discuss online retail issues

Commerce and Industry Minister Piyush Goyal on Wednesday held a detailed discussion with representatives of e-commerce firms and domestic traders body CAIT on issues related to the sector, including the proposed policy, an official said. Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal, who attended the meeting, said that it was indicated in that the national e-commerce policy would be released by the government in the coming months. He also said that all the stakeholders agreed to implement and follow the policy in letter and spirit. "A unanimity is arrived between all stakeholders about basic pillars of e-commerce policy and rules," Khandelwal said. He also asked to constitute a regulatory authority to monitor and regulate e-commerce trade in India. He added that representatives from different companies, including Amazon, Flipkart, Tata CLiQ, Reliance Retail, Zomato, Swiggy and Meesho, participated in the deliberations. Senior officials from the ..

CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion

The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by the Aditya Birla Fashion and Retail Limited

Internet retail growth shows signs of maturing shopper base: Report

Redseer report observes a growing habit of online shopping in both urban and rural parts of India among other electronic retail trends

Flipkart in talks to acquire Bengaluru-based e-pharma player Pharmallama

The deal may result in Flipkart gaining access to technologies of the platform, the people said on condition of anonymity

Nykaa extends fall post Dec quarter results; stock down 8% in two days

The company said gross margin declined due to change in BPC category mix, higher brand funded discount during festive season, consumer downgrades.

Tata Cliq Luxury plans large-scale Black Friday sale starting Nov 23

The sale will have offers on global and Indian luxury and premium brands