24 December 2021, Mumbai:

Snapdeal 2.0 also focuses on positive unit economics. Fashion, home & kitchen, and beauty & personal care account for 90% of Snapdeal sales. E-commerce company backed by SoftBank group, Snapdeal, which filed for IPO this week, has come a long way since 2017, as it struggled to sustain and also called off sale to its rival, Flipkart.

Soon, it started on the Snapdeal 2.0 journey and focused on its core audience- value-conscious mega segment. Snapdeal 2.0 also focuses on positive unit economics.

Fashion, home & kitchen, and beauty & personal care account for 90% of Snapdeal sales.

Snapdeal’s delivered units have grown 86.3% over the last two quarters from 4.61 million in Q4FY21 to 8.59 million in Q2FY22. Its net merchandise value (NMV) also grew 82.48% over the last two quarters.

The company’s trade receivables for six months ended September 30, 2021, were Rs 12.69 crore and its trade receivables turnover ratio was 38.92.

As more Indians, particularly from Tier-II and III cities are now shopping online, Snapdeal enabled users to buy in their local language. The Snapdeal app is available in different languages to engage with customers. Over 70% of the company’s users are from outside Tier-II towns.

For the six months ended September 30, 2021, 13.07%, 14.45%, and 72.48% of its shipped units were purchased by buyers in metro cities, Tier-I cities, and Tier II+ cities, respectively.

Also, 99% of the company’s orders come through mobile phones. In a blog post earlier this year, Kunal Bahl, Co-founder, and CEO, Snapdeal, said, “Our sharp and exclusive focus on the value segment is evident from the fact that more than 95% of the products sold on Snapdeal are below Rs 1,000. The average selling price on Snapdeal is below Rs 500.”

According to RedSeer, approximately 77% of lifestyle retail demand in India is from the value segment, which represents the total addressable market for players in the value segment. Value lifestyle retail was worth $88 billion in FY2021 and is expected to grow at a CAGR of approximately 15% to $175 billion by FY26.

Commenting on Snapdeal’s recent IPO, Anil Joshi, Managing Partner, Unicorn India Ventures, said, “Pre-2015 Snapdeal was one of the prominent e-commerce players.

The initial success also brought in access to money resulting in many acquisitions.

While growing, the company spent a lot of money on unrelated or non-strategic acquisitions. In 2017, things went the other way and the company saw a downfall including a failed acquisition by Flipkart.”

New Indian Express (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18 December 2021, Mumbai:

Social commerce platform Meesho is building a live streaming platform to increase its portfolio of value-added services, people aware of the matter told ET.

The service will be offered to sellers on the platform for a charge, one of them said. "Live streaming will be a big part," the person said. "If you onboard enough influencers on your app, they do the selling for you. You don't need marketing and branding to do the selling for you."

This is a way the company is planning to increase its revenue. The platform runs on a zero-commission model. As of now, advertisements on the platform by sellers are the only source of revenue for Meesho.

Its entry into live commerce comes at a time when large ecommerce players like Flipkart and Myntra and influencer-led platforms such as Glance's Ro poso are trying to replicate the success.

Source: ET dt 20-12-2021 (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22 December 2021, Mumbai:

Nykaa Fashion will offer Indian consumers the Scandinavian fashion label NA-KD. It covers everything from work and leisure to lounge and vacation and includes versatile separates, dresses and jumpsuits, tailored coats and jackets, cozy knits and loungewear, signature denim, and shoes.

Known as one of Europe's top 20 fastest-growing fashion labels, NA-KD is one of the fastest-growing and most digitally savvy fashion brands in Europe. It has tailored suits with fashionable fits and also crazy prints and allows people to express themselves in any color or shape they want to.

So it is not a typically minimalist Scandinavian brand. The target audience is 18 to 35.

NA-KD does a lot of limited edition assortments and a project called ART which is very arty and in the forefront with an eye-catching aesthetic.

The product is trendy and the touch and feel of the product is high quality. Nykaa aims at giving Gen Z and millennial consumers what they are seeking in a very quick-paced fashion market.

It has a keen focus on bringing the best merchandise to the customer whether that’s about celebrating local crafts or finding sustainable brands or whether it’s about bringing international fashion brands to India.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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17 December 2021, Mumbai:

Pritika Swarup is a multi-hyphenate in the true sense. An international model, Columbia University alum, investment analyst, and now, beauty entrepreneur, she’s a name you should know if you didn’t already.

We interviewed her for our July issue, a few months before her brand Prakti Beauty launched in September and she let us in on why it’s a brand to watch out for.

As she launches on the Global Store on Nykaa today, she tells us everything about why she’s looking forward to introducing her hybrid skincare brand to the Indian audience.

A frequent face in fashion glossies worldwide and global campaigns for the likes of Fenty Beauty and Tom Ford, Pritika Swarup’s proximity to the business of beauty has been inevitable, along with a peek into what’s truly missing.

With her skincare brand Prakti (a fusion of her name meaning ‘loved one’ and ‘Shakti’ which stands for ‘female power or energy), she wants to introduce the world to effective skincare that marries traditions and technologies.

She enters the Indian market with both her products, ensuring that the Indian and international launches are in sync.

The making of Prakti Beauty

Swarup hopes to create a brand that’s truly global, inclusive, and empowering. “I set out to build a better product that speaks to my generation, and Prakti is a true representation of who we are—hybrids of mixed cultures, heritage, experiences, multidimensionality, goals, and dreams.

It’s not just about fusing tradition with modernity, it’s about fusing cultures and experiences,” shares Swarup.

The Columbia University alum is as invested in the brand as a founder can be. “I am intimately involved in every aspect of product development, from envisioning each product, to choosing key ingredients, changing textures, reconfiguring formulas, and testing it all with the lab.

For me, Ayurveda was a great place to start because of the holistic philosophy of treating the entire self. We determined early on that we wanted this brand to go beyond beauty with holistic properties,” she adds. In fact, she even relocated to Palm Beach during the pandemic in 2020 so she was closer to their lab.

Vogue (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22 December 2021, Mumbai:

E-commerce platform Snapdeal has announced the appointment of Himanshu Chakrawarti as president of the company, said a statement issued today.

Chakrawarti will lead various functions at the firm to drive its Bharat-focused, value commerce strategy and steer various growth-related and operational initiatives.

Prior to joining Snapdeal, he was the CEO of Unlimited Fashion - Arvind Lifestyle Brands’ value fashion retail chain, where he was responsible for setting the strategic direction and overseeing entire operations including curating brands and assortments, guidance on product designs, and pricing strategy.

He also led the direct integration of over 75 stores with top e-commerce platforms and enabled real-time inventory visibility and fulfillment.

ET   (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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15 December 2021, Mumbai:

The initial public offer (IPO) of Metro Brands was fully subscribed on the final day of the issue. Metro Brands is backed by Rakesh Jhunjhunwala. The poor response is reminiscent of another Jhunjhunwala-backed issue that came last month –Star Health.

The issue also saw an equally poor response from investors. It was eventually subscribed to 79 percent.

Though there is still hope for Metro Brands as QIB investors, who usually come on the last day, may bid in enough numbers to help it sail through. The issue has majorly garnered positive recommendations on the issue but a few brokerages are skeptical over aggressive pricing, the impact of the Covid pandemic on the business, and high dependence on third party brands.

The company is one of India's largest pan India footwear retailers with a strong brand appeal. It is available at a reasonable valuation as compared to its peers. The company is selling shares in the range of Rs 485 to Rs 500 apiece.

At the upper range of the price band, the company will fetch Rs 1,367.51 crores via its initial stake sale.

Metro Brands retails footwear under its own brands of Metro, Mochi, Walkway, Da Vinchi, and J. Fontini as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop, which complement their in-house brands.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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20 December 2021, Mumbai:

With an aim to offer one million styles from over 5,000 brands, Myntra on Friday announced that its 15th edition of biannual flagship event, EORS (End of Reason Sale) goes live from December 18 till December 23.

The 6-day event is slated to cater to the fashion, beauty and lifestyle needs of over 40 lakh unique customers across the country with the demand expected to rise by 2.5X of BAU days.

"EORS is around the corner and we are poised to present the best collection at sharp value offers from across categories, for our customers. Myntra understands the pulse of fashion-conscious shoppers and that gives us an edge in terms of curating the best for every customer cohort," Sharon Pais, Chief Business Officer, Myntra, said in a statement.

"Our 25,000 Kirana partners will play a pivotal role in enhancing the experience of EORS for our customers, while the platform is geared to handle 15000 orders per minute at peak," Pais added.

With over 20 per cent higher traffic over the previous winter edition, Myntra expects about 700,000 new customers during the event, with 45 percent of the overall traffic expected to come from tier 2 and 3 cities and towns.

A total of 60 million visitors are expected during the 15th edition of the upcoming EORS.

During the event, which is powered by boAt as the title sponsor, consumers can handpick their favourite fashion wear, beauty products, accessories, home decor and more at the best possible price points from a range of brands such as H&M, MANGO, Levis, Puma, Nike, Roadster, boAt, Mama Earth, Urbanic and Biba among others.

"We are excited to partner with Myntra as the title sponsor for their upcoming edition 'EORS', which is one of the biggest fashion carnivals in the country. Both Myntra and boAt are quintessential fashion-forward brands and have been able to elevate India's style quotient," said Vivek Gambhir, CEO, boAt.

"We have a long-standing relationship with Myntra as they have played a key role in shaping consumer perception when it comes to audio accessories and smartwatches. This partnership is aimed at celebrating the joy of festive buying and introducing lifestyle brands to the new & growing fashion-conscious population." Gambhir added.

Apart from festive Indian wear, the December edition of EORS also offers the best opportunity to shop for trendy winter wear from a range of domestic and international brands, as well as beauty, skin and hair care products.

Expanding its omni-network further, Myntra has integrated over 350 brands and 2,900 stores across the country under its omnichannel delivery model which is over 1.7X more than the previous winter edition of EORS held in December last year.

Omni-channel services are being offered in over 42 cities and across 1.4 lakh styles, with some of the leading brands integrated under this system over the last three months being Status Quo, Woodland, Soch, and Columbia among others.

Myntra's innovative event constructs such as 'price reveal' and 'early access' went live on December 17 for its Loyalty Programme (Myntra Insider) members where they enjoy exclusive early access to the event, while other shoppers seeking this option can do so by paying a nominal fee.

First-time shoppers can avail a flat Rs 500 off alongside free delivery for a month, while Elite, Select and Icon insiders can enjoy free shipping during the entire event. Insiders can also avail offers of up to 20 per cent on over 150 brands and redeem top brand vouchers against insider points. Myntra's 'shout and earn' programme will allow users to invite their friends to EORS and get extra offers of up to Rs 150 per friend who just visits the EORS page and does not necessarily shop.

On the payments front, there are exciting offers from ICICI Bank, Axis bank and Paytm.

BUSINESS STANDARD  (The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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