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Flipkart’s Binny Bansal sells shares to Walmart entity

A year after Walmart acquired India’s leading e-tailer Flipkart, Binny Bansal, the co-founder of the online retailer, has sold around 54 lakh of his equity shares valued at Rs 531 crores to the global retail giant’s Luxembourg entity FIT Holdings. Walmart, the world’s largest retailer, acquired Flipkart for about $16 billion last year. Walmart is the world’s biggest retailer. The company, two years ago, opened an online platform without a physical store. In India, Walmart generates nearly half its sales from outside its big-box cash-and-carry stores either through members directly ordering online or the sales force visiting B2B members for orders.

Walmart expects business in India to get easier. In India, Walmart doesn’t sell directly to consumers and is an organised wholesaler or cash-and-carry operator that sells merchandise to kirana stores, hotels and catering firms. There are an estimated 10 million kirana stores in India and a large part in the hinterland. The company operates 24 Best Price wholesale stores across nine states opened over the past decade. With a focus on Tier II and III cities to open more outlets, the company plans to double store count in the next few years including six new stores in Andhra Pradesh and Telangana.

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Park Avenue Woman satisfies style and design needs through its new collection

Park Avenue Woman satisfies style and design needs through its new collection

According to Sharad Walia, Brand Director, Park Avenue, “Women today emphasise more on the style and design of their clothes. They prefer readymade garments over tailored garments.” Based on these... Read more

Desi Belle introduces new designs and colors

Desi Belle introduces new designs and colors

Ethnic wear brand Desi Belle introduced fresh designs and colors in its Spring /Summer ’20 collection. “The new collection offers fusion and luxury wear for the middle and upper classes,”... Read more

Toonz Retail ready with a colorful, vibrant, energetic A/W collection for kids

Toonz Retail ready with a colorful, vibrant, energetic A/W collection for kids

The Autumn/Winter collection of Toonz Retail is all about celebrations and parties. “Colorful, vibrant and energetic, this collection focuses on a creating a comfortable party ensemble,” affirms Shard Venkta, Managing... Read more

Pepe Jeans’ new kids collection celebrates the brand’s iconic heritage

Pepe Jeans’ new kids collection celebrates the brand’s iconic heritage

The A/W ’19 kids’ wear from Pepe Jeans London celebrates the iconic heritage of the brand through its archive logos and motifs. “The collection offers a colourful mix of knits... Read more

Babla Designer’s exclusive range fuses traditional and modern designs

Babla Designer’s exclusive range fuses traditional and modern designs

Gen-X and Gen-Y women are perpetually concerned about their looks. Be it office or homes, they want to look good 24X7. Their growing income and emerging lifestyles is propelling Indian... Read more

Status Quo launches new store and collection

Status Quo launches new store and collection

With a vision to create a new casual wear range for youngsters, menswear brand Status Quo plans to open 18 stores across Delhi, NCR and Punjab region by 2020-21. The brand... Read more

Indian streetwear finally comes out of shadows

Indian streetwear finally comes out of shadows

Indian fashion is slowly warming up to streetwear as was evident from a recent fashion show. At this show, four streetwear lablels including Six5Six Street, Biskit, Gundi Street and Mumbai-based... Read more

Luxury goods makers positive about business despite a slowdown

Luxury goods makers positive about business despite a slowdown

As is evident from a luxury shopping festival currently underway at the DLF Emporio Mall in New Delhi, the luxury goods sector is facing a definite chill this festive season.... Read more

Zola attracts the youth with stylish, right priced fusion wear

Zola attracts the youth with stylish, right priced fusion wear

India’s fusion wear industry is on a growth curve and causing ripples in the women’s wear segment. Zola, a well-renowned brand for young women, is standing firm in the potential... Read more

W launches new festive collection

W launches new festive collection

Women’s brand W by TCNS Clothing has launched its festive collection ’19 called ‘Pop Sets’. Made from unique fabric combinations like chanderies, denims and the eco-friendly Livaeco fabrics, the collection... Read more

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