Page 17 - Flipkart

Myntra plans restructuring to focus on private labels, 50 jobs to be hit

The changes are part of a new strategy deployed by the Flipkart-owned platform Myntra as it plans to focus majorly on select private labels instead of in-house brands

Walmart, Flipkart join hands with Telangana govt to upskill, support MSMEs

Walmart and Flipkart on Tuesday announced the signing of a Memorandum of Understanding (MoU) with Telangana government to create an ecosystem to aid capacity building for MSMEs in the state. The pact was signed in the presence of Telangana government's Industries and Commerce Department Principal Secretary Jayesh Ranjan and 'Swasti' programme director Joseph Julian KG, a release said. The MoU between Swasti and the Industries and Commerce Department will facilitate the development of local Micro, small and medium-sized enterprises (MSMEs) towards accessing a wider domestic market space, to leverage online retail and enable sustained growth and commercialisation, it said. Under the new partnership, Walmart will extend its support to help MSMEs digitise their businesses and fuel capacity building for Telangana. This will enable them to be a part of the offline and online domestic supply chains, it said. In partnership with Swasti, Walmart Vriddhi Supplier Development Programme (Walma

Cyber security start-up PingSafe announces raising $3.3 mn in seed funding

Company aims to serve cloud security-related organisational needs for customers

Flipkart makes nearly $700 mn cash payout to staff post PhonePe separation

Walmart-backed Flipkart on Friday began mega cash payout to staff, estimated to be worth USD 700 million, following its separation from fintech firm PhonePe. The board of directors of Flipkart had announced the complete separation from the PhonePe business by selling off its entire shareholding in December 2022. Accordingly, the board decided to pay USD 43.67 as compensation for each ESOP (vested options for eligible current and former stakeholders and unvested options only for eligible current stakeholders) as of the record date of December 23, 2022. "Further to the communication made on April 21, 2023, regarding this payout, I am delighted to inform you that the much-awaited compensation will be made today, July 14, 2023," Flipkart CEO Kalyan Krishnamurthy said in an internal e-mail, seen by PTI. In response to an e-mail query by PTI, the company confirmed that the payout following the separation of PhonePe (announced in December 2022) has been made to employees. Meanwhile, in t

Shopsy surpasses 200 million app downloads on its 2nd anniversary

Most of its users are from tier-2 and tier-3; firm says that other than price, tech features such as voice and image search, vernacular interface and AI-driven chatbots have fueled adoption

Flipkart employees to receive cash payout from $700m Esop buyback

Following Phonepe separation, the ecommerce platform is also offering investors and Esops holders the option to reinvest their payout

Flipkart offers upto Rs 5 lakh in lending to customers with Axis tie-up

Flipkart's introduction of customer lending services is aimed at boosting sales by providing an additional financing option to customers

Nothing announces pre-order for Phone (2) ahead of launch: Details here

Nothing had previously said that the Phone (2) will be manufactured in India for Indian consumers

Flipkart, PhonePe could be $100 bn businesses in India, says Walmart

Flipkart was valued at more than $40 billion in 2022 and counts itself among India's most valuable startups

End of season sales party arrives early for Indians this year, here's why

Usually, the EOSS starts at the end of June, and companies aim to clear their stock before fresh stock hits the shelves, but this year, the companies have started discounting early

Flipkart's double-digit growth helps Walmart sales jump 13% at $26.8 bn

Walmart-owned fintech firm PhonePe saw its annualised total payments volume cross $1 trillion in Q1

Walmart-owned Flipkart sees two top-level exits, both after eight years

Early this year, Flipkart told staff it won't be handing out increments to senior leadership in a 'difficult decision' that was expected to impact 4,500 personnel

Black+Decker announces licencing agreement with Indkal Technologies

Indkal's new collection of Black+Decker products will be available on amazon.in and flipkart.com, and in-store channels on June 3

With growing user base, ONDC can start a price-war in ecomm market: Report

However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others

Zomato begins its own UPI offering, Flipkart expected to follow soon

The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings

Top e-commerce platforms to stop selling seat belt alarm stopper clips

Amazon, Flipkart, Meesho, Snapdeal, and Shopclues had this item listed for sale

E-commerce platforms growing slower than expected as sale drops: Report

According to several industry insiders, the pandemic-related tailwinds that drove significant growth in online shopping are now waning

Flipkart launches new 400,000 sq ft fulfilment centre in Telangana

Fulfilment centres allow e-commerce companies to outsource warehousing and shipping

E-commerce giant Flipkart opens 4 lakh sqft fulfillment centre in Telangana

E-commerce giant Flipkart on Tuesday launched a new fulfillment centre (FC) at Sangareddy in Telangana about 60 km from here. The new fulfillment centre was inaugurated virtually by KT Rama Rao, Minister for IT and Industries in the presence of Jayesh Ranjan, Principal Secretary (IT) and Kalyan Krishnamurthy, CEO, Flipkart Group. Spread over four lakh sq ft, the FC will further Flipkart's commitment to India's digital commerce evolution by empowering local sellers, employable youth, and customers while making e-commerce more inclusive and accessible. Krishnamurthy said the Sangareddy facility is the largest one in Telangana and it would create new livelihood opportunities and for thousands of people and help small businesses. He further said Flipkart currently has six fulfillment and sorting centres and close to 100 distribution hubs in Telangana with over 14,000 sellers collectively contributing to 40,000 direct and indirect job opportunities. Minister Rama Rao suggested the Fl

Jerseys, sippers, coffee mugs: Fans bat for IPL-themed merchandise

RCB, CSK, MI merchandise in top demand, selling at higher rates