30 September 2023, Mumbai

Flipkart and Amazon, two major players in the Indian e-commerce industry, are gearing up to launch their annual flagship sales on October 8, 2023.

Amazon had initially announced October 10 as the start date for its Great Indian Festival, but it has now synchronized its start date with Flipkart's Big Billion Days. As in previous years, Amazon Prime members will have early access to both sales events.

Background

For Flipkart, which is backed by Walmart, the significance of Big Billion Days cannot be overstated. This event accounts for a significant portion of the company's annual sales, and its competitors and many other businesses rely on it as well.

Add on; Flipkart Plus members will also have early access to the sale, which is expected to generate high levels of anticipation and participation in this major retail extravaganza.

The upcoming sales events are expected to attract millions of customers and sellers across India. They are also likely to have a significant impact on the Indian economy, as consumers are expected to spend heavily on a variety of products, including smartphones, electronics, apparel, and home appliances.

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21 September 2023, Mumbai

As per latest ET report, Myntra, India's leading e-commerce platform for fashion, beauty, and lifestyle, is gearing up for the upcoming festive season by expanding its home category with over 50,000 new products and more than 20 new brands.

Sanguine demand

Myntra platform has observed a consistent increase in the demand for stylish and distinctive home products, and with home decor taking center stage during the festive season in India, it has expanded its selection to meet the home-related needs of our fashion-forward customers.

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04 September 2023, Mumbai

Myntra is a leading e-commerce platform that offers a wide range of products, including men's beauty and personal care products. The company has a strong focus on men's grooming, and it offers a wide variety of products to meet the needs of all men.

Spoilt for choices

Myntra's men's beauty and personal care products are tailored to suit the diverse preferences and requirements of men. The company offers a wide range of products, including shaving essentials, hair care solutions, skin care regimens, and fragrances.

Myntra also offers a variety of products from leading brands, such as The Man Company, Beardo, Forest Essentials, L'Oréal Men Expert, Nivea Men, and Kiehl's.

Myntra's commitment to men's grooming is evident in its extensive range of offerings. The company is constantly adding new products to its catalog, and it is always looking for ways to improve the customer experience. Myntra is a reliable partner in helping men look and feel their best.

Here are some of the ways in which Myntra tailors its offerings to suit men's preferences and requirements:

• The company offers a wide range of products to choose from, so men can find the right products for their individual needs.
• Myntra offers products from leading brands, so men can be confident that they are getting quality products.
• The company offers competitive prices, so men can save money on their grooming products.
• Myntra offers a variety of delivery options, so men can get their products when they need them.
• The company offers a customer support team that is available to answer questions and provide assistance.

Myntra is committed to helping men look and feel their best. The company's wide range of men's beauty and personal care products, coupled with its commitment to customer service, make it a reliable partner for men of all ages.

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28 September 2023, Mumbai

Flipkart Ventures, the venture capital arm of Flipkart, announced an investment in five early-stage startups through its accelerator program, Flipkart Leap Ahead (FLA), on Monday. The program is designed to foster innovation and nurture entrepreneurship.

Nuances

The selected startups, Algomage, Castler, FlexifyMe, Nimble Box.ai, and ReCircle, will receive equity-based investments ranging from $250,000 to $500,000 to support the development of capacity and machine learning-powered solutions, a digital escrow banking stack, and initiatives related to the circular economy.

Handholding

In addition to financial support, Flipkart will also provide mentorship and support to these startups, assisting them in achieving product-market fit, establishing scalable architectural foundations, and building cohesive teams.

This investment is a testament to Flipkart's commitment to supporting India's vibrant startup ecosystem, which plays a pivotal role in the country's digital journey.

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21 September 2023, Mumbai

Focus on Resilience and Growth

Following the resounding success of the ET Soonicorns Summit 2023 in Bengaluru, India's premier startup-tech initiative is set to expand its reach to the national capital. The Delhi-NCR edition of the summit will take place on November 3, 2023, under the overarching theme of "Resilience. Reset. Results."

The summit will bring together prominent leaders, visionary entrepreneurs, and key stakeholders from across the Indian tech-startup landscape to illuminate the myriad growth opportunities and challenges that define the new economy.

Platform to be

The Delhi-NCR edition of the ET Soonicorns Summit is poised to emerge as a definitive platform for fostering conversations, connections, and collaboration avenues that can catalyze the success of Digital India's tech entrepreneurs.

It will also strengthen their contribution to India's rise as a global digital economic powerhouse over the next decade.

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22 August 2023, Mumbai

Children's Footwear Brand Secures Funding from Prominent Investors

Aretto, the brand specializing in children's footwear, has officially concluded a successful seed funding round.

Nuances

The company has secured a total of $550K from a group of angel investors and advisors.

Notably, the investors include the prominent cricketer Hardik Pandya, Abhineet Singh (Co-founder of VegNonVeg and Founder of Brewhouse), ShyamRaichura (Managing Director of Aan Group), RaunakMunot (Former Chief Marketing Officer of Bombay Shaving Company), the investment banking firm Veromint Advisors, Vinayak Shrivastav (Co-founder of Videoverse), and Kunal Sumaya (Managing Director of Julius Bear).

Progression

Aretto specializes in offering technologically advanced shoes that dynamically adjust to the changing shape and size of children's feet as they grow.

The company has expressed its intention to strategically allocate and employ the raised funds in order to expand its presence in the market, facilitate the growth of its team, and enhance research and development endeavors aimed at introducing new and diverse product lines.

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27 September 2023, Mumbai

Antar-Agni, the avant-garde clothing brand by designer Ujjawal Dubey, has made a stylish debut in Kolkata with its first flagship store. Situated on Sarat Bose Road, this 900-square-foot vintage-themed boutique encapsulates the essence of colonial aesthetics while showcasing Antar-Agni's unique conceptual collections.

The store's inauguration coincides with the launch of an exclusive 'made-for-Kolkata' festive wear line, marking a significant milestone for the brand. The interior design expertly combines tradition with modernity, featuring a central room leading to more intimate spaces.

About Brand

Antar-Agni, founded by Ujjawal Dubey in 2014, has gained recognition for its boundary-pushing, ungendered silhouettes and innovative textile experiments.

This Kolkata flagship joins its New Delhi counterpart, providing a physical space for customers to experience the brand's non-conformist ethos. Antar-Agni's availability through e-commerce and select multi-brand stores further underscores its commitment to redefining contemporary fashion.

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20 September 2023, Mumbai

FableStreet, the online fashion brand, is making its foray into brick-and-mortar retail and is aiming to establish 10 to 15 stores by mid-September next year, according to Ayushi Gudwani, the founder and CEO of FS Life, as reported by ETRetail.

This brand, supported by Fireside Ventures, is set to inaugurate three flagship stores between mid-September and October. These stores will be located at prominent shopping destinations: Phoenix Marketcity in Kurla, Phoenix Palladium in Lower Parel, and Phoenix Mall of Millennium in Pune.

Nuances

Furthermore, FableStreet is actively searching for suitable locations to launch stores in both Delhi and Bengaluru.

The expansion into brick-and-mortar retail is a strategic move for FableStreet, which aims to provide a more immersive shopping experience for its customers. The stores will offer a wide range of products, including workwear, casual wear, and accessories. FableStreet also plans to offer made-to-measure services in its stores.

The expansion comes at a time when the Indian fashion retail market is witnessing a strong recovery. The market is expected to grow at a CAGR of 11.6% over the next five years.

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14 August 2023, Mumbai

Strong Revenue Growth Despite Discretionary Spending Slowdown

• Revenue: Nykaa's revenue grew 23.8% YoY to 14.22 billion rupees ($172 million) in Q1.
• Signature Sale: The company's signature 'Pink Summer Sale' was a major driver of growth, with orders up 17%.
• Beauty and Personal Care (BPC) Segment: Nykaa's BPC segment, its primary revenue source, continued to perform well, with a 17% increase in orders.
• Gross Merchandise Value (GMV): Overall GMV surged 24% to 26.68 billion rupees.
• Fashion Domain: The fashion domain saw a more modest 12% GMV gain, but still accounted for nearly 30% of total GMV.
• Pre-tax Profit: Nykaa's pre-tax profit climbed 16.5% YoY to 97.2 million rupees.
• Executive Departures: The company faced some challenges in Q1, including executive departures and inflation concerns.

Despite these challenges, Nykaa delivered strong revenue growth in Q1.

The company's signature 'Pink Summer Sale' was a major driver of growth, and the BPC segment continued to perform well. Nykaa's pre-tax profit also climbed 16.5% YoY.

Overall, Nykaa's Q1 earnings were robust, and the company is well-positioned for continued growth in the coming quarters.

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14 August 2023, Mumbai

Nykaa Gems, a multi-brand beauty and fashion retailer, has expanded its offerings to include more affordable up-and-coming Indian brands.

Discovery

The move is aimed at supporting local talent and helping shoppers discover new labels. Nykaa Fashion, management maintains that the expansion of Nykaa Gems is part of the company's commitment to promoting Indian design as there is an incredible bunch of designers and talent all over the country who are building amazing new trends and designs.

The platform wants to give them a platform to showcase their work and reach a wider audience.

Widening horizons

Nykaa Gems now feature a wide range of brands, from The Cai Store and House of Fett to Seeaash and Gulaabo.

The retailer also offers a variety of price points, making it accessible to shoppers of all budgets. With the expansion of Nykaa Gems, Nykaa is positioning itself as a one-stop shop for discovering new Indian brands.

The retailer is also hoping to become a more inclusive destination for shoppers, by offering a wider range of price points and brand diversity.

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