Anarock projects a rapid surge in malls volume

Despite the online onslaught and the e-commerce business in the country moving to a new orbit, real estate consultants Anarock has projected a rapid rise in the number of shopping malls across the country. In a recent report, the agency has underlined the possibility of 85 new shopping malls coming up in different parts of the country in the next five years. “There is so much talk of the death of brick-and-mortar retail as a consequence of the aggressive advent of e-commerce into the country, when the fact is that shopping malls…

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First Khadi Mall to come up in Jharkhand

Country’s first mall dedicated to Khadi products would be set up in Ranchi. This was announced by Jharkhand Chief Minister Raghubar Das recently. “Within 15 days, land in the Heavy Engineering Corporation (HEC) campus will be made available to the Khadi Board to develop the country’s first Khadi mall,” he said while addressing the ‘Karigar Panchayat’ organized by the Khadi Board at the Tana Bhagat Indoor Stadium recently. Speaking on the occasion, the state chief minister emphasized that promoting handicrafts is one of the key priorities of the government and the decision…

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Volume of online shoppers to surpass 120 million

The growth momentum in online shopping in the country will go unabated in 2018. According to a recently released report by an industry body, the volume of online shoppers will shoot beyond 120 million during the course of the year. As per an ASSOCHAM-Resurgent joint study, online shopping is expected to clock annualised growth of 115 percent this year, aided by fast-increasing data consumption and improvement in logistics, along with a number of offers presented by e-commerce platforms. In the previous year, the study noted that as many as 108 million consumers did…

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Aahaa Stores raises $2 million in fresh funding round

Online office or corporate supply store, Aahaa Stores, has reported fresh equity infusion. In the fresh funding round, the company has managed to generate $2 million from global investment Group Calega, based in the UAE. The platform went live in early 2013 and today it claims to be one of the fastest growing B2B eCommerce startups in India serving top notch clients including IndusInd bank, Tata AIG, TCS, Wipro, Reliance Nippon, ITC Hotels, Oyo, Uber, Yes Bank, Equitas, Ashok Leyland, Bosch, Eicher, RBL, HDB Financial, Syntel, HGS, Kone, Tata Capital…

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Myntra reports brisk business at end of reason sale

The 8th edition of Myntra’s flagship End of Reason Sale (22nd-25th June), got off to a flying start, with Myntra clocking 10 crores in the first 10 minutes of the sale. 8.75 lakh items were purchased by 2.1 lakh users through VIP slots, during the 4 hour shopping window before the sale opened to the public. In a press release, the company claimed setting a new record by registering 1.3 million sessions in the very first hour of the sale with 1.5 lakh orders. The company has over 7 lakh orders…

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CEVA appoints new global eCommerce business head

Global logistics major CEVA has announced appointing Niels Weithe to the newly created position of Global head of eCommerce.   He will be based in Germany and will report directly to Chief Operating Officer of Contract Logistics, Brett Bissell. Neils  joins CEVA from Arvato where he was President of its consumer products division and led the team which built up Europe’s leading eCommerce service company.  He will assist CEVA in expanding its B2C solution based on its strong and established global network. “Niels’ knowledge and expertise in this field will enable…

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Aggressive multi-billion logistics push from Alibaba

Chinese e-commerce giant Alibaba has decided a massive over 100 billion yuan investment push to develop a smart logistics network. The initiative is aimed at significantly lowering the delivery time both within China and other parts of the world. This was revealed by Alibaba Group Chairman Jack Ma at Global Smart Logistics Summit in Hangzhou, China last week. “ This network is not only national but global. This is what we will work closely with our partners to achieve and bring benefits to all,” Ma said. Later, in a press…

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E-commerce export procedure through India Post to be simplified

With rising e-commerce exports, the government is now planning India Post to become a major intermediary in the space for outbound shipments. For this, the customs department will be simplifying procedures. The e-commerce exports facility through Foreign Post Offices (FPOs) is available since 2016 under Merchandise Export from India Scheme (MEIS) incentives from post offices at three locations – Chennai, Mumbai and Delhi. “Now, customs may be leading the reform race by permitting e-commerce exports through all FPOs, though without MEIS benefits for now,” a recent Finance Ministry statement said.…

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Flipkart goes to Walmart, stage set for battle royale

Ritwik Sinha After several weeks of intense speculations, world’s largest retail chain Walmart on wedenesday finally confirmed buying out India’s largest e-commerce player Flipkart. Walmart is buying a commanding 77 percent stake in Flipkart doling out a staggering $16 billion which makes it the largest buyout in the e-commerce space in the world. With this deal, the valuation of Flipkart has shot up to $21 billion. Flipkart is estimated to have a commanding 40 percent share in the Indian e-commerce market which is considered to be one of the fastest…

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Shoppers Stop to expand its outlet network in 2018

Country’s leading retail chain Shoppers Stop has planned to expand its outlet network in the country this year. According to a recent report in a leading national daily, the company is all set to invest Rs 120 crore this year in opening new stores as well as renovation of some of the existing outlets. “On an average, we will invest Rs 120 crore to open five department stores and 12 beauty stores in the beauty format this year,” Govind Shrikhande, managing director and customer care associate of Shoppers Stop has been…

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