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Start-Up 12-05-2022

ONDC: Flipkart, Amazons Of The World Look @ Joining

12 May 2022, Mumbai:

Open network for Digital commerce suddenly arouses a lot of excitement within The E-Commerce space.
Flipkart, RIL, and Amazon ONDC is a decentralized platform that connects buyers and sellers.

Can deliver products via their logistics partners.

ALSO READ E-commerce platform faces tough competition
It aims to enable online commerce for small sellers and businesses.

The network will be open to the wider public in Bengaluru, Coimbatore, Delhi, Bhopal, and Shillong by the first week of June.

RELEVANT NEWS New e-commerce players fail to display 'Country of Origin’ on products: Report

Likely to be up and running in 100 cities by August in the entire country buyer.
Logistics companies EKART, DUNZO sign up on platform; Phone pe in final stages of integration.

The bigger eCommerce players have indicated to ONDC that they will support it.

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CREDITS: ET Dt 12-05-2022/ET Research and ONDC research strategy paper (The news article has not been edited by DFU Publications staff).

Start-Up 12-05-2022

ONDC: Flipkart, Amazons Of The World Look @ Joining

Nykaa Fashion launches womenswear brand Little Mistress

10 May 2022, Mumbai:

Multi-brand fashion retailer Nykaa Fashion has launched the UK-based womenswear brand Little Mistress on its platform.

It is a specialist in party wear, fast fashion brand Little Mistress has launched a collection of bridesmaid dresses on Nykaa Fashion in time for the summer wedding season.

ALSO READ NYKAA: India set to become 5th largest beauty market

The brand has launched these dresses in a variety of color schemes. They have been designed to match the bride’s wedding color scheme and the other bridesmaids.

The elegant yet paired-down dresses have been designed with monochrome designs and minimalist details.

They aim to enable the bridesmaids to express their personalities while remaining on the theme.

RELEVANT NEWS Startups 2021: Bought back historic high ESOPS

The first fast-fashion brand to be launched by the namesake group, Little Mistress was awarded the Drapers award for Young Fashion Brand of the Year in both 2012 and 2013 as well as the Independent Young Fashion Brand of the Year in 2013.

The Little Mistress Group launched its second brand Paper Dolls in 2014 followed by its third brand named Girls on Film.

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CREDITS: As per a Fashion Network report.

Start-Up 10-05-2022

Startups: IPOs are delayed & may-not hit public markets in 2022

02 May 2022, Mumbai:

IPOs on hold as startups look to wait out the storm.

Wary SEBI starts asking questions on IPO proceeds pricing other aspects.

ALSO READ Piyush Goyal: Startups need to focus on strengthening ethics & corporate governance

Multiple startup IPOs including that boat a direct-to-consumer brand, Oyo hotels and homes, Snapdeal,Pharm Easy are delayed and may not hit the public markets this calendar year, amid uncertain economic conditions triggered by Geopolitical development and rising interest rates in the US.

RELEVANT NEWS Startups look at pruning costs to stay in shape

What is significant is that country's marketing regulator SEBI has not given a nod to most of these companies despite them having filed their IPO documents more than 4-5 months ago.

It typically takes 2 to 3 months for final clearance from SEBI after filing the DRHP.

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CREDITS: ET Dt 02-05-2022 (The news article has not been edited by DFU Publications staff).

Start-Up 02-05-2022

Startups: IPOs are delayed & may-not hit public markets in 2022

Startups look at pruning costs to stay in shape

28 April 2022, Mumbai:

Startups shed flab as large funding rounds lose stream.

Cos focus on profit, reducing costs.

ALSO READ Nikesh Arora: Startups have to have sustainably profitable model

Startups are looking to prune costs amid the tightening of larger-sized funding rounds. They are doing that by shedding staff.

Handing out pink slips

Mostly late-stage startups that are highly valued & have significant cash burn laying off staff.

RELEVANT NEWS START-UP India Innovation Week 2022: 10-16, January Virtual Form

There is a slowdown in large financing rounds of $100-150$ m.

More than 1800 full-time, contractual employees fired in last few weeks; more jobs cut ahead

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CREDITS: ET Dt 28-04-2022 (The news article has not been edited by DFU Publications staff)

Start-Up 28-04-2022

Startups look at pruning costs to stay in shape

FSN E-Com Operating Nykaa: Grants Fresh ESOPs

10 May 2022, Mumbai:

Nykaa Grants fresh ESOPs, and shares.
Nykaa has both granted new stock options and equity shares to their respective employees.

ALSO READ NYKAA: India set to become 5th largest beauty market

Nykaa hundred 100,150 equity shares are allotted to employees who have vested their options.

RELEVANT NEWS Startups 2021: Bought back historic high ESOPS

The overall share capital of Nykaa stands increased to rupees 47,42,05,026

Nykaa had allotted 100,000 optionally convertible preference shares worth a little over rupees 60 crores to employees in January last year.

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CREDITS: ET Dt 10-05-2022 (The news article has not been edited by DFU Publications staff)

Start-Up 10-05-2022

FSN E-Com Operating Nykaa: Grants Fresh ESOPs

Myntra teams up with H&M for an online shopping event

30 April 2022, Mumbai:

Flipkart’s fashion arm Myntra has teamed up with Swedish fast-fashion brand H&M to launch the online shopping event ‘Myntra Brand Fest.

The online shopping event will give customers 15 percent off on summer styles to celebrate the launch of H&M on the platform.

It will promote the brand’s summer collection.

ALSO READ Myntra launches Style Squad to curate collections and content for consumers

Myntra has also launched numerous international brands on its platform.

On April 29, the e-commerce company launched the Australian womenswear brand Forever New on its platform with a selection of summer dresses and separates.

Another recent international brand launched by Myntra includes the JC Collection, which retails a selection of more formal and office-ready women’s dresses.

RELEVANT NEWS Despite persistent retail limitations, H&M returns to pre-pandemic sales levels

Turkish brand Trendyolwas also launched on Myntra on April 28 with a selection of neutral-toned womenswear including summery coats and smart-casual separates.

Other recent international launches include US brand Guess, FreesoulWorld, Nakd, and True Religion.

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Start-Up 30-04-2022

Myntra teams up with H&M for an online shopping event

Myntra x FREESOUL enter in Indian Market

27 April 2022, Mumbai:

Fashion e-commerce major Myntra has partnered with Italian brand Freesoul to launch the brand in the Indian market.

The brand will have a brand store on the Myntra Mall, apart from being featured on Myntra Studio and M-Live, Myntra’s social commerce platform.

ALSO READ Myntra launches Style Squad to curate collections and content for consumers

Founded in 1994, Freesoul is a high-fashion brand that sells denim, athleisure, sportswear, and tailored garments.

RELEVANT NEWS Myntra: Focus area on Live Commerce, Beauty

“Freesoul’s unparalleled affiliation with Myntra will allow the model to achieve and interact with its numerous target market in India and amplify its presence within the nation in the direction of fashion-conscious males, with affinity in the direction of premium trend manufacturers, that look to Myntra for his or her trend wants,” the net trend retailer, a part of Walmart-backed Flipkart Group, mentioned on Tuesday.

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CREDITS: Mint Indian Retailer Dhansutra Fashion Network Pehal News (The news article has not been edited by DFU Publications staff)

Start-Up 27-04-2022

Myntra x FREESOUL enter in Indian Market

Raymond Good glam engages in deal talks

04 May 2022, Mumbai:

Good glamm in talks to buy Raymond's consumer care business.

Rupees 2500 - $2800 cash and stock deal will be one of the largest M&A in the Beauty and Personal care space.

Looking in
Raymond group and its promoters may own a minority stake in Good Glamm group.

ALSO READ Apparel retailers Raymond, Snapdeal, Uniqlo restructure boards

The acquisition will mark Good Glamm's entry into the men's personal care.

Raymond group is expected to carve out its consumer care business.

Good Glamm group is believed to be talking about raising 250 million USD at an evaluation of 1.8-2 to billion USD.

RELEVANT NEWS Good Glamm acquires a majority stake in Organic Harvest

The Good Glamm group is in advance talks to buy the consumer care business of Raymond group which has Park Avenue and Kamasutra brands.

The cash and stock deal is pegged at rupees $2,500 to $2,800 crores.

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CREDITS: ET Dt 04-05-2022 (The news article has not been edited by DFU Publications staff)

Start-Up 04-05-2022

Multibrand e-commerce platform rebrands as ‘Taggd’

29 April 2022, Mumbai:

To appeal to new its new millennial consumers, the multi-brand e-commerce platform Once Upon A Trunk has rebranded itself as ‘Taggd.’

The new branding enables the marketplace aims to highlight its influencer-led commerce strategy.

ALSO READ E-commerce platform faces tough competition

The business adopts digital celebrities and new-age influencers to connect consumers with brands.

The platform focuses on working with young direct-to-customer brands and Instagram boutiques to expand their customer bases.

It helps influencers to create content to promote brands on its platform to reach the most people possible.

RELEVANT NEWS Brand Machine Group launches new e-commerce platform

The business is also expanding into Tier II and III locations.

It currently delivers to over 22,000 pin codes across India.

Once Upon A Trunk, now Taggd was launched by Shivaani and Saanchi Jain in 2015 in New Delhi. It focused on selling affordable products and is known currently as the fastest-growing indigenous home-grown and D2C delivery e-retailer.

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Start-Up 29-04-2022

Multibrand e-commerce platform rebrands as ‘Taggd’

FirstCry goes ahead with IPO plans

26 April 2022, Mumbai:

FirstCry Plans $1b IPO, may Seek Sebi Nod Next Month

75% of total issue size to be in OFS, rest in primary: board approves conversion to public Ltd firm.

ALSO READ NIIF-FirstCry proposed deal

A SOURCE SAID...
FirstCry may seek a valuation of close to $7 billion for its debut on Dalal Street.

RELEVANT NEWS FirstCry: Sovereign wealth fund invest, others offload stake in secondary deal

MONEY MATTERS
FirstCry's DRNP filing will be coming at a time when startups like Delhivery had to postpone their listing plans due to market volatility.

The most updated financials of the company will reflect in its draft red herring prospectus (DRHP).

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CREDITS: ET DT 26-04-2022 (The News article has not been edited by DFU Publications staff).

Start-Up 26-04-2022

Zilingo: Suspends its CEO Ankiti Bose

03 May 2022, Mumbai:

Board decision to suspend CEO Bose.

ALSO READ Zilingo Hired An Independent Firm

Singapore-based fashion technology startup Zilingo on Monday said the decision to suspend its Indian origin co-founder and CEO Ankiti Bose over alleged discrepancies in the company's account was taken jointly by the board and not by any individual investor.

RELEVANT NEWS Unicorn Zilingo E-Commerce: The role of e-commerce and digitization in accelerating the adoption of ESG and Sustainable practices

In a strongly-worded statement, the company said Bose made certain harassment-related allegations only after she was suspended on March 31 and no past or present investor nominees on the board were made aware of the harassment claims prior to that.

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CREDITS: *ET Dt 03-05-2022 (The news article has not been edited by DFU Publications).

Start-Up 03-05-2022

Piyush Goyal: Startups need to focus on strengthening ethics & corporate governance

29 April 2022, Mumbai:

Incorporate the list in India: Piyush Goyal tells startups.

ALSO READ Startups look at pruning costs to stay in shape

Amid a series of scandals, commerce and industry minister Piyush Goyal on Thursday asked startups to focus on strengthening ethics and corporate governance, while also suggesting that they should be incorporated and listed in India, instead of leaving the country "just a few dollars more".

RELEVANT NEWS Nikesh Arora: Startups have to have sustainably profitable model

"A little tougher ask probably.

But I would once again urge all of you to incorporate in India and list in India. If you have an issue or problem, please tell us about it.

We will...make every effort to resolve them," Goyal said at a CII event.

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CREDITS: TOI Dt 29-04-2022 (The news article has not been edited by DFU Publications staff).

Start-Up 29-04-2022

Piyush Goyal: Startups need to focus on strengthening ethics & corporate governance

Flipkart strengthens warehouse network with new Bengal fulfillment centre

25 April 2022, Mumbai:

Strengthening its warehouse network, e-commerce major Flipkart has opened a new fulfillment centre at Haringhata in West Bengal.

Spread across 110 acres, the facility will create 11,000 direct and indirect jobs in the area.

It will support around 20,000 sellers from West Bengal and the northeast region by providing them with access to the national market.

ALSO READ Flipkart is a firm believer in real-time transactions

Kalyan Krishnamurthy, the CEO, of Flipkart Group, opines, that the fulfillment centre will further strengthen the supply chain infrastructure in Bengal.

It will also lead to the creation of a technology-led modern warehousing infrastructure across India.

In the past two years, Flipkart has opened around 25 fulfillment centres measuring a total of 27 lakh sq. ft.

RELEVANT NEWS Retail biggies team up to end Amazon-Flipkart dominance in Indian e-commerce

According to a November 2014 report, Flipkart operates through a complex business structure that includes nine firms, some registered in Singapore and some in India.

In 2012, Flipkart co-founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal.

Flipkart's Indian entities are owned by a company registered in Singapore.

The Singapore-registered entity owns eight Indian companies, including Flipkart Internet, the company that runs the e-commerce marketplace Flipkart.com, Flipkart India, the wholesale business, and Flipkart Logistics.

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Start-Up 25-04-2022