Anirban Sen

India: Myntra’s app-only move slowed down FY16 sales growth

Online fashion retailer Myntra, which is owned by Flipkart, reported a sharp slowdown in sales growth for the year ended March 2016, as its move to become an app-only platform alienated customers.

Indian online retail firms get a reality check in 2016

A population of more than 1.25 billion, rising mobile Internet penetration and increasing incomes are supposed to make India the last big unconquered e-commerce market in the world. But this year, the online retail market is set to show little or no growth, raising worrying questions about the potential of… Read more »

India: Infy co-founder Nilekani invests $5m more in 10i Commerce

Infosys Ltd co-founder Nandan Nilekani has invested $5 million more in Bengaluru-based e-commerce start-up 10i Commerce Services, according to regulatory documents and a person familiar with the matter. With the latest investment, the former chairman of the Unique Identification Authority of India (UIDAI) has so far invested about $10 million… Read more »

Amazon India sees FY16 loss soar to $525m

Online marketplace Amazon India’s revenue more than doubled in the 2015-16 fiscal year, but so did its loss, as the Indian unit of the Seattle-based Internet giant went all out to topple local arch-rival Flipkart from its No. 1 position. After splurging heavily on marketing, discounts and investments in technology… Read more »

Amazon to step up India investments further

Amazon India chief Amit Agarwal on Wednesday said his company was fully prepared to deal with protectionist measures if such a situation arises at all, a fortnight after the founders of homegrown unicorns Flipkart and c sought government help to take on global rivals. In an interview, Agarwal said the Seattle-based… Read more »

Amazon India top seller Cloudtail revenue rises four-fold

Cloudtail India Pvt. Ltd, a joint venture between Inc. and Infosys Ltd co-founder N.R. Narayana Murthy’s Catamaran Ventures, posted a fourfold increase in revenue in the year ended March 2016 and received fresh funds amid a market-share battle between Amazon and Flipkart. Cloudtail, the largest seller on Amazon India’s… Read more »

India 2016: Startup funding declines, but no let-up in deal volume

India’s start-up ecosystem may have seen a fall in funding this year, but there’s been almost no let-up in the number of deals, highlighting that investor appetite is still strong. Start-ups have attracted roughly $4 billion in funds so far this year, down from a heady $7.55 billion in 2015,… Read more »

India: Flipkart launches private label biz to improve profit margins

Online marketplace Flipkart has launched its first private label business under an umbrella brand called Flipkart Smart Buy, as part of a push to improve margins. Flipkart will launch a second private label brand early next year and mostly target categories such as electronics, accessories, home decor and furniture with… Read more »

India: E-commerce startups suffer even as mobile wallets gain in demonetisation drive

The withdrawal of high-value notes from circulation has had a mixed impact on the country’s online businesses. Sales at e-commerce companies, which are heavily dependent on cash payments, have suffered badly while digital payment start-ups have seen a sharp rise in daily transactions. Others such as cab hailing services have… Read more »

Valuation markdowns are just theoretical exercises: Flipkart’s Sachin Bansal

To say 2016 has been a tumultuous year for Indian e-commerce’s poster boy Flipkart would be an understatement. The year started with the biggest executive overhaul in Flipkart’s history. Binny Bansal took over as chief executive and Sachin Bansal moved on to the role of executive chairman in January. Since… Read more »