Page 10 - Flipkart

Flipkart's Binny Bansal steps down from fintech major PhonePe board

In January this year, Bansal also stepped down from Flipkart's board. He had been on the PhonePe board since 2016, when the Flipkart group acquired the payments firm

Walmart's executive Dan Bartlett joins Flipkart as a board member

Bartlett has decades of experience in public relations and government affairs

ED probes Amazon, Flipkart over ties with top sellers, alleges FEMA breach

The ED has reportedly quizzed the 'top' five sellers of both firms and found that many are former employees or relatives of former associates of Amazon and Flipkart

ED shifts focus to Amazon and Flipkart ties with preferred sellers

Under India's FDI rules, e-commerce platforms are prohibited from exercising control over vendors and are required to operate solely as neutral intermediaries

CCI seeks SC intervention to streamline Amazon, Flipkart antitrust cases

As multiple high court cases delay its probe, the CCI now considers a Supreme Court petition to merge antitrust cases against Amazon, Flipkart, and certain other platform sellers

Swiggy recruits senior leadership from Flipkart, Amazon amid expansion bid

Swiggy is set to debut on the Indian stock exchanges on Wednesday, marking a milestone in the next phase of the company. The company launched its high-profile initial public offering last week

Flipkart achieves EV deployment target of over 10,000 in delivery fleet

The firm said it is adopting a fully electric logistics last-mile fleet by 2030 as part of the Climate Group's EV100 initiative

Amazon, Flipkart executives to be summoned as regulatory scrutiny grows

Indian laws prohibit foreign e-commerce players from holding inventory of goods they can sell on their website

ED searches 19 premises of Amazon, Flipkart vendors in Fema probe

A total of 19 premises of these "preferred" vendors located in Delhi, Gurugram and Panchkula (Haryana), Hyderabad (Telangana) and Bengaluru (Karnataka) were covered as part of the action, they said

CCI recalls Flipkart antitrust probe report after Xiaomi complaint

China's Xiaomi had complained to the Competition Commission of India (CCI) that the report - which found Flipkart, some of its sellers, and smartphone players in violation of competition laws

India’s festive shopping hits record high of Rs 1 trillion

India’s e-commerce platforms achieved record-breaking sales of around Rs 1 trillion during this year’s festive season. Watch the video to know more.

Tech giants generate over Rs 60,000 crore in advertising revenue FY24

Tech giants Google, Meta, Amazon, and Flipkart generated more than Rs 60,000 crore in advertising revenue for FY24, reflecting a 9 per cent increase compared to the previous year

Festive boost: Flipkart records 7.2 billion customer engagement visits

The e-commerce firm also witnessed a record 282 million unique visitors during the period, primarily driven by premiumisation and personalised preferences, especially in metros and Tier-2+ cities

Flipkart marketplace arm revenue grows 21%, losses reduce by 41% in FY24

In FY24, Flipkart Internet generated nearly Rs 5,000 crore from advertising, up from Rs 3,324.7 crore in the previous year

E-commerce major Flipkart narrows loss to Rs 4,248 crore in FY24

E-commerce major Flipkart has reported narrowing of consolidated net loss to Rs 4,248.3 crore in 2023-24 helped by increase in its revenue, according to a regulatory filing report shared by Tofler on Monday. The company posted a consolidated net loss of Rs 4,897 crore in the financial year (FY) 2022-23. The company's expenses on purchase of stock in trade increased by about 24 per cent to Rs 74,271.2 crore in FY 2024 from Rs 59,816.6 crore in FY 2023. According to the Tofler report, Flipkart's return on equity dropped to the lowest level in the last five years to negative 49.6 per cent. The return on capital employed for the company was also the lowest at negative 54.09 per cent in the last five fiscal years. The consolidated revenue of the Walmart Group firm increased by about 26 per cent to Rs 70,541.90 crore in FY 2024 from Rs 55,823.9 crore in FY 2023. An email query sent to Flipkart elicited no immediate reply.

YouTube Shopping expands in India, collaborates with Flipkart and Myntra

The video platform said the global success of YouTube Shopping, with over 30 billion hours of shopping-related content watched in 2023, shows the power of connecting creators, viewers, and brands

Women bring home the sales, delivering festival wins for e-commerce firms

Flipkart said that among the blue-collar workforce it has hired for this festive season, there is a 24 per cent growth in women hired compared to the Big Billion Days (BBD) sale event in 2023

BigBasket, Urban Company lead in fair pay; most platforms fall short

Booming gig economy, dismal pay: Fairwork report reveals only two out of 11 major online platforms ensure their workers earn at least the local minimum wage after deducting work-related expenses

Karnataka HC halts CCI probe against Flipkart, Amazon over procedural error

The DG reclassified sellers initially listed as "third parties" to "opposite parties" without seeking prior approval from the CCI, which contravened standard procedures

E-commerce order volumes grow 20% in first 4 days of festive season sale

Despite only a marginal increase in volumes, the home decor category reported an impressive 50 per cent increase in GMV over last year