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Start-Up 23-04-2022

Nikesh Arora: Startups have to have sustainably profitable model

23 April 2022, Mumbai:

Startups in India are growing in scale and size, but are increasingly addressing the needs of global markets, said Nikesh Arora, CEO, and chairman at Palo Alto Networks.

ALSO READ START-UP India Innovation Week 2022: 10-16, January Virtual Form

"What is fascinating is that I am beginning to see a class of startups which are global in nature."

Asked if the cash-burn model of many startups is sustainable, he said, "In the end, you have to build a credible, robust long-term business.

And credible, long-term, robust businesses are built on creating profitability and cash because that's what we value as investors."

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Start-Up 23-04-2022

Nikesh Arora: Startups have to have sustainably profitable model

Nykaa x Estee Lauder foray into 'Salon Business'

21 April 2022, Mumbai:

Nykaa to launch salons with Estee Lauder's haircare brand Aveda.

It will employ a hub-and-spoke model for salons, similar to what wholesaler Metro Cash & Carry does with Kirana stores.

ALSO READ Nykaa aims at 3x retail store count to build its offline presence: CEO Falguni Nayar

The move marks beauty retailer Nykaa’s foray into India’s fragmented wellness and beauty services market dotted with regional chains.

With this move, it teams up to launch AvedaX Nykaa-branded premium unisex hair care salons in India.

Aveda is a vegan hair, skincare, and body care brand, part of the New York-based Estée Lauder Companies Inc.

In India, Aveda’s vary of hair care and physique care merchandise have been retailing since 2018 on Nykaa’s on-line platform and distributed by way of ELCA, which retails varied manufacturers of Estée Lauder.

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CREDITS: ET Dt 20-04-2022 MINT Success News Pehal News (The news article has not been edited by DFU Publications staff)

Start-Up 21-04-2022

Nykaa x Estee Lauder foray into 'Salon Business'

FirstCry plans IPO to raise funds

15 April 2022, Mumbai:

E-commerce startup FirstCry.com plans to file an IPO this month to raise about $700 million in investments.

The online baby product marketplace aims to boost its value to at least $6 billion.

The IPO will include a listing of both new and existing shares.

ALSO READ NIIF-FirstCry proposed deal

Led by Supam Maheshwari, Founder, FirstCry registered profits during the financial year ended March 31, 2021. It could turn its losses into gains with a shift to online shopping.

Formally known as BrainBees Solutions, FirstCry operates an online store featuring products for children and expecting mothers.

It is backed by investors including TPG, SoftBank Group Corp., and PremjiInvest, the family office of Wipro. PremjiInvest plans to buy a stake in the company that was initially supposed to be bought by National Investment & Infrastructure Fund. The deal valued FirstCry at close to $3 billion.

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Start-Up 15-04-2022

NEU Day @Tata Digital: Super App Neu arrives

08 April 2022, Mumbai:

Tata Digital's Super App Neu is open for Biz at last.

Akash Banerjee to head content arm

After several delays, Tata Group finally launched its much-awaited super app Tata Neu for the public on Thursday.

ALSO READ Retailers to centralise omnichannel operations in 2022: Study reports

Tata Neu-Live The Neu

"Tata Neu is an exciting platform that gathers all our brands into one powerful app." Tata Sons chairman N Chandrasekaran said in a LinkedIn post, "Combining our traditional consumer-first approach with the modern ethos of technology, it is an all-new way to discover the wonderful world of Tata."

Tata-owned brands including BigBasket, 1mg. Croma, AirAsia, IHCL, Qmin, Starbucks, Tata Cliq, Tata Play, and Westside will be available on the super app initially. he said. Vistara, Air India, Titan, Tanishq, and Tata Motors will be added soon.

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CREDITS: ET Dt 08-04-2022 (The news article has not been edited by DFU Publications staff).

Start-Up 08-04-2022

NEU Day @Tata Digital: Super App Neu arrives

Lenskart eyes at raising funds

19 April 2022, Mumbai:

Having recently closed a $100 million funding round, eyewear retailer Lenskart plans to raise another $250 million in funding.

The retailer also plans to expand its online presence by making all its brands like Lenskart Blu, John Jacobs, and Vincent Chase available on platforms like Amazon, Myntra, Nykaa, and Tata CLiQ.

ALSO READ Lenskart to expand brick-and-mortar footprint

Madhur Acharya, Vice President- of e-commerce Marketplaces, believes, the brand’s presence on online platforms will help it penetrate smaller cities across India.

It will also enable the company to offer customers a richer experience, a wide variety, and better quality products at affordable prices.

Digital brands will also enable Lenskart to reach a larger audience, adds Acharya.

To differentiate itself from other brands, Lenskart educates consumers on its product and quality standards.

Its data analysis and understanding help the brand to stay ahead of the competition, adds Acharya.

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Start-Up 19-04-2022

Zilingo Hired An Independent Firm

14 April 2022, Mumbai:

The investors of Singapore-based B2B fashion e-commerce startup Zilingo have hired an independent firm to investigate a 'matter' that came to light in March, and have put CEO Ankiti Bose on suspension pending investigation, the board members of the tech startup said in a statement to TOI on Wednesday.

The 'matter' being investigated relates to accounting and financial irregularities at the startup, sources told TOI Bose is learned to have disputed the allegations.

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CREDITS: TOI Dt 14-04-2022 (The news article has not been edited by DFU Publications staff).

Start-Up 14-04-2022

FirstCry reports profits in FY’22

07 April 2022, Mumbai:

Documents sourced through Tofler indicate omnichannel baby care-focused firm FirstCry’s profits are likely to double in FY22.

The brand’s profits surged to Rs 215.94 crore during the financial year ended March 31, 2021.

ALSO READ NIIF-FirstCry proposed deal

The Pune-based company’s consolidated revenues jumped over 140 percent from Rs 897 crore in FY 20 to Rs 1,740 crore in FY 21.

Expenses increased to Rs 1,645.3 crore in FY21, from Rs 1,088.1 crore in FY20. Earnings before interest, tax, depreciation, and amortization or Ebitda margin surged to 10.5 percent.

In FY20, the Softbank-backed Unicorn posted a loss of Rs 190.8 crore loss.

It entered the unicorn club in February 2020 with a $296 million Series E cheque from investors led by SoftBank.

The company is currently planning to launch an initial public offering that will be managed by investment banks Kotak Mahindra Capital Co. and Morgan Stanley.

Starting in September 2010, FirstCry is the leading player in the omnichannel baby and mother care products segment.

It currently has around 600 retail stores and is also operational in the UAE.

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Start-Up 07-04-2022

Falguni Nayar, NYKAA, Gets EY Entrepreneur of the Year'21

18 April 2022, Mumbai:

Falguni Nayar has the founder and chief executive officer (CEO) of beauty supply company Nykaa (FSN E-commerce) been named the EY Entrepreneur of the Year 2021, at the 23rd edition of the EY Entrepreneur of The Year India awards.

Ms Falguni Nayar, Founder & CEO, of Nykaa, was today named the EY Entrepreneur of the Year™ in 2021 and will now represent India at the EY World Entrepreneur of the Year Award (WEOY) on 9 June 2022.

ALSO READ Falguni Nayar named in M3M Harun Global Rich List 2022

Shri Bhupender Yadav, Honourable Minister of Labour & Employment and Environment, Forest & Climate Change graced the ceremony as the Chief Guest and addressed the audience.

Dr Bhagwat K Karad, Honourable Minister of State for Finance was the Guest of Honour.

An investment banker turned entrepreneur, Falguni Nayar disrupted a brick-and-mortar industry by taking a digital route to sell beauty products in 2012.

Her start-up, Nykaa, is one of the most profitable start-ups in the country with a strong Omni-channel presence.

Over the last two years, she has diversified from beauty into fashion and lifestyle and has a well-established portfolio of over 2,600+ international brands and 100+ offline stores.

The company recently raised fresh capital for expansion through a blockbuster IPO. Falguni was the recipient of the EY Entrepreneur of The Year Award in the Start-up category in 2019.

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CREDITS: EY (The news article has not been edited by DFU Publications staff)

Start-Up 18-04-2022

ASLEE: Focus on eco-responsible & fashionable products

11 April 2022, Mumbai:

Aslee is a word from the Hindi and Nepali language that translates to Real.

It reflects its attitude towards life and work, the focus on building real, durable, ecologically responsible, and fashionable products.

It is an independently-run entity and everything we do is to bring you better, more sustainably made higher-quality lifestyle products.

ALSO READ START-UP India Innovation Week 2022: 10-16, January Virtual Form

Good brands have charm.

Great brands have souls.

Nitij Singh, who co-founded the startup Aslee with Zoya Wahi is quite proud of their initiative.

KEY DIFFENTIATOR

Packaging waste is a very visible part of the environmental issue.

Its Fabrics

Breathable Bamboo

Many rural Asian communities rely on Bamboo agriculture for work and it is great for the planet because it requires minimal water for growing.

Know More Holistic Hemp

The Hemp plant has been around in Nepal and India for centuries. This plant grows faster than other similar plants and is naturally resistant to fungus.

Know More Native Nettle

The miracle Himalayan plant called Himalayan Nettle is also known locally as ‘Allo’ or 'Bicchu Booti'. The fabric made from this plant stays cool in the summer and warm in the winter.

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CREDITS: Aslee (The news article has not been edited by DFU Publications staff).

Start-Up 11-04-2022

ASLEE: Focus on eco-responsible & fashionable products

BlueKaktus wants to connect 5,000+ vendors

07 April 2022, Mumbai:

BlueKaktus, India's largest fashion and lifestyle digital supply chain network, is on target to connect 5,000 suppliers with brands utilizing its sourcing platform in the next six months.

BlueKaktus' mission, according to the company, is to create a sustainable supply chain by improving lead times, pricing, and performance by giving transparency and agility to garment companies, manufacturing, sourcing, and retailing businesses through its digital solutions.

It's worth mentioning that BlueKaktus started with a few hundred suppliers, quickly expanding to 2,000 in a short period of time, and currently hoping to incorporate 5,000+ businesses.

ALSO READ Through its technology suites, BlueKaktus assists major fashion brands in achieving operational excellence

When compared to last year, when just 1 million clothes were sourced per month, BlueKaktus saw an exponential surge in sourcing, with over 11 million garments sourced per month, with 20 million garments anticipated to be sourced in the following six months.

According to BlueKaktus, the value of the garments obtained is currently worth US $ 120 million each month and is anticipated to reach US $ 250 million per month by the end of the next financial year.

Leading companies such as Myntra, USPA, Arrow, Amazon, Lifestyle, and others are employing the company's technologies to provide improved consumer experiences.

"In the fashion sector, the business model is shifting to on-demand production. Producers are reacting to demand in real-time rather than predicting it. As a result, the principles of fashion are evolving.

"At BlueKaktus, we deliver technology solutions that help manufacturers, sourcing businesses, and retailers reduce lead times, cut costs, and improve performance," said Gunish Jain, CEO of BlueKaktus.

BlueKaktus also intends to be the country's largest fashion and lifestyle digital supply chain firm, contributing to the creation of the new fashion 'pull economy,' according to Gunish.

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CREDITS: Textile Value Chain & Apparel Resources.

Start-Up 07-04-2022

BlueKaktus wants to connect 5,000+ vendors

Neu Tata App: To Host Brands Outside The Conglomerate Too

16 April 2022, Mumbai:

Tata Neu app. to host other brands too.

Tata Neu super app. which houses the Tata Group's various brands from Taj to Westside will host brands outside of the conglomerate, group chairman N Chandrasekaran said on Thursday.

Tata Neu is an open architecture.

There will be offerings outside of the Tata stable, he said, without divulging details.

Similarly, the app's rewards programme, NeuPass, will cover Non-Tata brands.

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CREDITS: TOI Dt 15-04-2022 (The news article has not been edited by DFU Publications staff).

Start-Up 16-04-2022

Neu Tata App: To Host Brands Outside The Conglomerate Too

Flipkart to postpone US listing to 2023

08 April 2022, Mumbai:

Walmart-owned, an Indian e-commerce company, Flipkart plans to postpone its US listing to 2023 instead of this year.

It also plans to raise its IPO valuation target by around a third to $60-70 billion. Earlier, Flipkart had set an IPO valuation target of $50 billion.

ALSO READ Amazon, Flipkart E-COMM announce dates for Republic Day 2022 sales

It aims to delay IPO to boost valuations by focusing on two new businesses, online healthcare services, and travel bookings.

Flipkart acquired Indian travel booking website Cleartrip in 2021, and this week launched a "Health+" app to offer medicines as well as other healthcare products and services.

Last year, Flipkart raised $3.6 billion in a funding round, giving it a valuation of $37.6 billion.

That fundraising helped bolster the company's financial position.

India's IPO market has slowed as enthusiastic retail investors and a pandemic-induced flood of easy money encouraged several Indian tech companies like Paytm and Zomato to go public.

Over 60 companies went public in 2021, raising over $13.7 billion in funds.

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Start-Up 08-04-2022

Go Colors launches its 500th EBO

07 April 2022, Mumbai:

Go Colors, one of the most popular women's bottom wear companies, has opened its 500th Exclusive Brand Outlet (EBO) in Pune, which is owned by Go Fashion (India) Ltd.

Go Colors, Chennai, was founded in 2010 and claims to have an 8% market share in branded women's bottom wear as of FY20. The women's bottom wear business is predicted to rise by 35% in FY25, from Rs. 13,500 crore in FY20 to Rs. 24,300 crore in FY25.

Go Colors will be tapping into this substantial growth potential and significantly growing its market share, given its enormous pan-India brand awareness.

ALSO READ Go Fashion to invest in omnichannel steadily

Go Fashion India Ltd. stated in a statement that it will continue to invest in extending its retail network across regions by establishing roughly 120-130 new shops per year in the long run.

It's also improving omnichannel interactions for a more seamless consumer experience, implementing a technology-driven growth strategy to serve consumers in Tier 1 to Tier 3 cities, and executing its existing and emerging market expansion goals.

"Achieving the milestone of having 500 outlets is a 5-year-old dream come true for us," says Gautam Saraogi, CEO of Go Fashion India.

We look forward to maintaining our unique and creative approach to releasing new designs and creating additional brand locations for our customers in the years ahead, as well as attaining many more similar milestones!"

Go Colors' target market is estimated to rise to Rs. 11,000 crore by 2025, and they want to use their winning growth approach to increase their market share.

With its goods available in a variety of colors and designs, the D2C brand makes use of its first-mover advantage in the bottom wear market with a cutting pricing approach.

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CREDITS: ANI News & Apparel Resources.

Start-Up 07-04-2022