Page 3 - Ecommerce

WTO: India seeks views on consumer protection in e-commerce sector

Also calls for greater cooperation among enforcement agencies of member countries

Flipkart, Walmart ink MoU with NSIC to speed up capacity creation for MSMEs

The three plan to support MSMEs in their quest to integrate with local and global retail supply chains

E-commerce platform Carousell lays off 110 employees to reduce costs

Consumer-to-consumer (C2C) e-commerce platform Carousell has laid off about 110 employees, or 10 per cent of its total workforce, in an effort to reduce costs.

Flipkart, Polygon partner to speed up Web3 & Metaverse e-commerce use-cases

To set up Blockchain-e-commerce Centre of Excellence towards this end

Amazon to shut down its edtech platform in India, refund customers

Edtech offering was launched last year to cater to students preparing for engineering colleges' JEE

11 e-commerce firms on board govt campaign to fight fake reviews

Firms to develop filtering & control tools and algorithms, verification and control processes

Data Bill may not lead to India joining e-commerce deal at WTO

India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017

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

Govt announces new norms to curb fake online reviews of products, services

E-commerce players like Amazon and Flipkart will have to voluntarily disclose all paid consumer reviews of products and services offered on their platforms, with the government bringing in new norms to curb fake reviews and help buyers make informed decisions. However, the government has barred publication of reviews that "have been purchased and/or written by individuals employed for that purpose by the supplier or third party concerned". The BIS standards, prepared after extensive stakeholder consultations and to be effective from November 25, will be voluntary but the government will consider making them mandatory in case the menace of fake reviews continue on the online platforms. Consumer Affairs Secretary Rohit Kumar Singh on Monday said the Bureau of Indian Standards (BIS) has formulated a new standard 'IS 19000:2022' for Online Consumer Reviews -- Principles and Requirement for their Collection, Moderation and Publication'. The standards will be applicable to any organisati

Private equity player TPG Growth sells Nykaa shares worth Rs 1,000 crore

Private equity player TPG Growth on Friday sold shares of e-commerce beauty company Nykaa for more than Rs 1,000 crore. As many as 5.42 crore shares of FSN E-Commerce Ventures, which runs Nykaa, were offloaded at a price of Rs 184.55 apiece through a block deal, as per data from the National Stock Exchange (NSE). The total value of the transaction is a little over Rs 1,000 crore, the data showed. These shares were acquired by various entities, including Societe Generale, HSBC Indian Equity Mother Fund and Goldman Sachs (Singapore) Pte, among others. The stock of Nykaa, which got listed last November, is in focus as the mandatory lock-in period for pre-offer investors came to an end on November 10. Shares of the company rose more than 3 per cent to close at Rs 192 apiece on the NSE on Friday.

ONDC a 'game-changer' in democratising e-commerce business: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Friday exuded confidence that the Open Network for Digital Commerce (ONDC), a Unified Payments Interface-type protocol, would democratise the e-commerce businesses by onboarding six crore small retailers. Addressing reporters here, Goyal said, The ONDC has that ability to transform the e-commerce sector not only in India, but also in the whole world because, like UPI, it will democratise or make e-commerce available to the common man and connect the 60 million or six crore small retailers all over the country." The ONDC was launched in five cities in April. The ONDC will offer small retailers an opportunity to provide their services, goods, products to the buyers across the country through an e-commerce system, where buyers will be able to purchase the products, which are sold on any platform, Goyal explained. He added that the sellers on any one platform will have the ability to sell to buyers coming on to any platform. So ...

Layoffs are part of annual operating planning review process: Amazon

Sources say attempts being made to absorb staff in other units

Investor Lighthouse India Fund sold Nykaa shares worth Rs 525 cr: Report

30 million shares of FSN e-commerce Ventures, the parent company of the beauty products retailer Nykaa, were sold by the investor on November 10 as the lock-in period ended

Apple Days sale on Flipkart: iPhone 11 to iPhone 14, check offers and more

The Apple Days sale on e-commerce platform Flipkart started on November 16, and it will continue until November 20

Flipkart key driver of 13% spike in Walmart's international revenue

Walmart management says early timing of Big Billion Sale, from Q4 last year to Q3 this year, benefited the company

Amazon woos Indian exporters to sell products on Black Friday sale event

US e-commerce giant cuts subscription fee for new exporters joining Global Selling programme

Appario Retail's revenue rises 9% to Rs 15,915 cr, profit increases 53%

However, Amazon recently said it has decided that Appario Retail would cease as a seller on the e-commerce giant's platform within the next 12 months

Nykaa shares slump as one-year lockup period of pre-IPO investors ends

Selling pressure from pre-IPO investors feared in four start-ups this month

Flipkart FY22 losses widen to over Rs 7,800 cr; net income rises by 20%

E-commerce major Flipkart's losses widened to over Rs 7,800 crore in the financial year 2021-22 based on performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet, according to regulatory filings. According to filings, the combined loss of both entities stood at Rs 5,352 crore in the financial year 2020-21. Flipkart Internet, comprising online business-to-consumer platforms, has reported widening of loss to Rs 4,399 crore in FY22 from Rs 2,907 crore in FY21. This includes the performance of Fipkart Group firms like Myntra, Instakart etc. The B2b unit, Flipkart India -- earlier called Walmart India -- reported widening of loss to Rs 3,413 crore in FY22 from Rs 2,445.6 crore in FY21. The net income of Flipkart, however, increased by close to 20 per cent to about Rs 61,836 crore in 2021-22 with Flipkart India contributing Rs 51,176 core and Flipkart Internet registering a revenue of Rs 10,660 crore. Combined revenue of the e-commerce major

D2C Ecommerce acquires leading natural personal care brand Luxura Sciences

D2C Ecommerce, India's First Multi-D2C Brand Online Platform, Acquires Leading Personal Care D2C Brand Luxura Sciences

Luxura Sciences has been on an upward trajectory with a revenue of INR 4+ crores in FY21-22



New Delhi, Delhi, India Business Wire India



D2C Ecommerce, a homegrown multi-brand e-commerce platform has acquired leading personal care D2C brand Luxura Sciences'. Through this acquisition, D2C Ecommerce will expand in personal care and beauty segment, strengthen Luxura Sciences' product offerings by investing in newer categories and foray into global markets including US, UK, Middle East, South East Asia and Europe. D2C E-commerce had recently announced leading actress Rakul Preet Singh as brand ambassador for its fashion jewellery brand AccessHer'.



Luxura Sciences was established in 2018 by serial entrepreneur Mohd. Suaid Ahmed. Luxura's natural personal care range is made with