The Flipkart Group and Arvind Fashions (AFL) announced that they have strengthened their partnership, through an investment of ₹260 crore by the Flipkart Group to purchase a significant minority stake in AFL’s recently formed subsidiary Arvind Youth Brands which owns the Flying Machine brand. “This investment builds on the long-standing engagement between the two organizations…
The Government of India recently announced the fourth phase of nationwide lockdown but with some relief to businesses. E-commerce companies who were only delivering essential products until now, are finally allowed to deliver all products in the red zones. As per the new guidelines issued on May 17 for the third extension of the lockdown,…
Flipkart, has appointed Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra), post exit of Emily McNeal, who held the role of Flipkart Group CFO since September 2018.Flipkart has appointed Sriram Venkataraman as Chief Financial Officer (CFO) for Flipkart Commerce (Flipkart and Myntra). His appointment is effective immediately, and comes on…
After the second phase of lockdown came to an end, e-commerce websites in India are now finally get geared up for resuming of business in non-essential items. Although the Ministry of Home Affairs has given a go-ahead for resuming businesses, major Indian cities which makes a huge chunk of their sales, are still under lockdown…
Flipkart, India’s e-commerce firm, announced that it has tied up with Meru, an app-based ride-hailing cab operator, to deliver grocery and essential items to customers during the nationwide lockdown. Grocery and essential items will be delivered to Flipkart customers across Bengaluru, Delhi-NCR and Hyderabad through a safe and sanitized supply chain, the company said in…
Flipkart, India’s leading e-commerce marketplace, announced that it has pumped an additional $28 million into PhonePe, taking the total infusion till date to $928 million, according to regulatory filings made by the Company’s Singapore-based parent. PhonePe Singapore is a fully-owned Flipkart Internet entity. “Walmart will continue to bankroll PhonePe,” said a person in the know.…
In an attempt to provide essential commodities to Indians stuck at their homes due to the lockdown, E-commerce platform Flipkart and TataConsumer Products Limited has signed a partnership. As part of the partnership, Tata Consumer Products’ distributors will list as marketplace sellers on the Flipkart platform. Consumers can use the Flipkart platform to buy different…
Insurance companies are ramping up the fight against the coronavirus pandemic by introducing new plans. Health insurance companies and General insurance companies are either covering the disease in their existing plans or introducing new dedicated plans that cover the pandemic from day one, including all expenses with additional benefits. Flipkart, India’s homegrown e-commerce marketplace, in…
Online marketplace Flipkart recently announced a partnership with Uber to provide people across Bangalore, Mumbai, and Delhi access to everyday essentials, amidst the ongoing national lockdown. This partnership will keep vital supply chains running and will address the growing needs of Flipkart customers to receive essential goods at their doorsteps every day. It will also…
“Desperate times, call for desperate measures” When the first case of Coronavirus was reported, nobody expected it to engulf the whole world in fear, causing a recession-like situation. The pandemic has so far has claimed more than 4,000 lives worldwide and infecting 100,000 people. As we speak today, the virus has begun spreading in India…
In an attempt to prevent the transmission of the novel coronavirus among employees, e-commerce company Flipkart has offered its employees work from home option for three days. The offer is preferably made available to young employees whose children are studying up to fifth grade. A Flipkart spokesperson said, “In addition, we are checking system preparedness…
The novel coronavirus has engulfed the world in fear of its rapid spread and lack of medication. The virus which was first discovered in Wuhan City, China has so far claimed more than 3,000 lives and put at risk the lives of 90,000 people worldwide. As we speak today, the virus has entered India and…
Bengaluru-based fintech startup PhonePe recently announced that it has raised fresh capital from its Singapore-based parent entity PhonePe Private Limited, Singapore. According to a company filing, PhonePe has received $60 million (Rs 427.25 crore) in fresh capital from its Singapore parent, PhonePe Pvt Ltd. PhonePe allotted 1mn equity shares at a value of ₹10 with…
Bengaluru-based online money lending startup Rupeek, recently announced that it has raised $60mn in funding across two rounds from investors including Flipkart co-founder Binny Bansal and GGV Capital. Other investors like Tanglin Venture Partners and KB Investments also participated in the funding. Existing investors Sequoia Capital and Accel were also present during the funding rounds.…
Flipkart is elevating Senior Vice President and Head of Private Brands, Electronics and Furniture, Adarsh Menon to lead a new business initiative. According to an email sent by Group CEO Kalyan Krishnamurthy to Flipkart employees, accessed by The Financial Express, Menon may head Flipkart’s B2B (business to business) initiative. The mail read, “Being one of…