03 June 2022, Mumbai:

AnupVikal, Chief Financial Officer and General Counsel, JaserInfotech, which owns and operates online marketplace Snapdeal, has resigned from his position in the company as a proposed acquisition by rival Flipkart collapsed.

Vikal joined Snapdeal in October 2015 from Aircel, where he also led the telecom operator's finance operations.

RELEVANT NEWS  Snapdeal will offer RuPay cards in collaboration with BoB Financial and NPCI

He may join Essar Oil, which was acquired for a massive $12.9 billion by Russian energy behemoth Rosneft, global commodity trading and logistics giant Trafigura, and United Capital Partners in 2016, as its new CFO.

Prior to joining Aircel, Vikal was the group CFO and head of IT and strategy at InterGlobe Enterprises, which owns and operates the country's leading airline IndiGo.

ALSO READ  Clear focus on value segment helps Snapdeal grow

Vikal's departure is the latest in a list of about a dozen Snapdeal senior executives that have either, already resigned, or are currently in exit mode. These include Pradeep Desai, Vice-President - Product, VirajChatterjee, VP - Engineering, Gaurav Gupta, Head - IT, and Srinivas Murthy, Vice President-Marketing.

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08 June 2022, Mumbai:

Flipkart’s annual End of Season Sale (EOSS), from June 10-17 this year, will host over 200,000 sellersamd more than 10,000 brands. The event will also introduce 24X7 live commerce for the first time on the Flipkart app.

This year’s EOSS event will offer a wide range of apparels to customers looking to refresh their wardrobes. The event will offer a wide variety of styles in casual wear, ethnic wear, formal and seasonal wear to meet the customer demand. These styles will also include -- footwear, men’s and women’s apparel, fashion and travel accessories and kidswear.

ALSO READ Flipkart, Myntra: Rewards Consumers With SuperCoins

Meanwhile, the event is open for all sellers and nrands to participate and some of the top brands that will be present in the sale include home-grown D2C brands like -- Being Human, Ruf&Tuf, Campus, Cultsport, Urbanic, Hershienbox and Mokobara, Fubar, AAdi, Krassa and The Kapas. The event will also include ethnic wear brands such as -- Libas, Biba and MAX along with activewear brands including -- Nike, Puma, Adidas, HRX and Fastrack. For the formalwear selection brands like -- Peter England, Blackberrys, Arrow and Woodland will be there at the event and for kids' wear brands like -- Allen Solly, Jack and Jones and Crocs will be participating.

RELEVANT NEWS Flipkart sells over 200 million fashion products this season

Flipkart has introduced Fashion TV to serve customers from metros and emerging Tier-III 3 and IV towns. This service will allow sellers, brands and influencers to interact with customers in real-time. This unique initiative is aimed at personalising the experience for customers. It will allow buyers to browse an expansive assortment of short format live videos -- just like strolling through a mall and instantly buying the displayed fashion styles.

Flipkart Fashion TV will include four formats of live prime time shows that will include -- brand-led lives, celeb-led lives, game time lives and season’s top trends show. Moreover, participating brands and celebrities will co-host a series of 100 live sessions for 10 hours daily to offer a wide range of time-bound offers that will be released in phases. The company claims that the interactive format is expected to significantly boost customer trust and participation in the event.

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07 June 2022, Mumbai:

E-commerce lifestyle company Madbow Ventures has launched the second store for its in-house brand Streetstylestalk.

The store located at Gurugram is spread across 2,000 sq-ft and will house the latest collection from the brand.

Madbow had entered the offline market in May 2022 with its first store in Gurugram and plans to open eight more stores within 6 months in the Delhi NCR region.

Naveen Mahlawat, Co-founder& CEO, MadBow Ventures says, the newly launched facility is an ultra-modern setup, and we have on-boarded best retail designers to focus on a great understanding of what the people may need when they walk into the store.

The company plans to launch many more stores in the coming months in the Delhi NCR region. These stores will be launched under the different names of our multiple brands, he adds.

Established in August 2016, MadBowVentures has five in-house brands like Stalkbae, Streetstylestalk, Slaydeal, Lovedamoda, and Slayxo. It has also partnered with leading marketplace players like Myntra, Ajio and Amazon Fashion, etc, to strengthen its presence in the fashion e-commerce space in India.

04 June 2022, Mumbai:

Kidwear sales volume grew by 40 percent on Snapdeal from January- May ’22 as compared to the equivalent period last year.

Occasion wear for children grew by 130 percent growth while the sale of ethnic wear for children increased by 263 percent this year due to families getting the opportunity to meet and jointly celebrate weddings and festivals like Eid, Baisakhi, Pongal and GuddiPadwa. A large part of the demand for kids ethnic wear was centered in Uttar Pradesh, Karnataka and Maharashtra.

Parents shopping for their infants showed higher inclination towards apparel that is stylish, but also provides comfort and convenience. Reusable velcro diapers, Onesies with shoulder flaps that are easy to remove, front open vests and tie knot dresses were some of the popular items preferred by parents. Snapdeal added more relevantant choices from brands like Fashion Dream, Aarika, Mojua and Hopscotch in this regard.

While apparel continued to be the largest part in the kids category, post pandemic buying trends in the kids category have also changed.

An indication of how users are re-organizing their time was visible in the increased sale of outdoor/ sports items like tricycles, ride-ons and skates, where sales went up by 96 percent, while indoor games, art & craft supplies, kids room decor that had gained popularity during lockdowns saw a drop in sales volumes.

There was also increased awareness and desire to buy baby safety products. Sales in this category grew 37 percent with products like knee pads for crawling babies, baby helmets for new walkers and safety harnesses for walking assistance being popular choices. Families also bought finger pinch door guards, foam guards for sharp furniture edges, safety locks to secure cupboards and covers for electric socket points. The addition of brands like Safe O Kids, Brandonn and Amardeep helped augment the selection in this category.

While the overall fashion category grew over the equivalent period last year, footwear was a popular choice amongst both men and women on Snapdeal, with sales of men's casual shoes increasing by 141 percent and sales of women’s slip ons and pumps increasing by 43 percent. Women's fashion saw a rise in the sale of dress materials, maternity wear, and essentials, while Men's fashion saw a rise in chino and polo t-shirts.

01 June 2022, Mumbai:

Flipkart has promoted several of its leaders into newer roles as the Walmart-owned e-commerce giant aims to get listed on the US stock exchange in 2023, as per *a report by Business Standard.

The firm has internally raised its IPO (initial public offering) valuation target to about $60 billion. According to the report, Guddeti Bharath Reddy who joined Flipkart in July 2015 as the head of eKart IT has been promoted as the new Senior Vice President.

RELEVANT NEWS  Flipkart: Hits sale of 200mn fashion products in S/S'22

Similarly, Bharath Ram, Head, OneTech has also been promoted to the role of Senior Vice President. Over the years, Ram has led product, design, engineering and data science for user growth and retention as well as social commerce platform Shopsy and Flipkart Grocery.

Meanwhile, Prajakta Kanaglekarm, Head, HR, Supply Chain has been promoted to the rank of Vice President.

Sridhar Govardhan who joined in 2019 as Senior Director for the CISO org has been promoted to Vice President.

ALSO READ Flipkart: Starts ‘Flipkart Student’s Club’ 

He has been responsible for improving the NIST Cybersecurity Framework (CSF) maturity score for Flipkart and has worked across several internal functions to execute the fairly elaborate and complex security 2.0 programme successfully, noted BS. Also, Shalabh Shrivastava who has varied charters such as customer experience (strategy and design) 3PL and non-large city logistics and the large and furniture supply chain organisation has been promoted as a Vice President.

Last year, Flipkart Group raised $3.6 billion, including from SoftBank, which had exited the firm, valuing the company at $37.6 billion, which was more than a 50 percent rise in a year.

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CREDITS: * Business Standard report.