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Amazon, Google strengthen investments in India for e-com, cloud services, and digital transformation

26 June 2023, Mumbai

Amazon plans to increase its investments in India to $26 billion by 2030.

This includes an additional $6.5 billion in new planned investments, focusing on boosting the company's e-commerce business, competing against Flipkart and Reliance Retail.

What all you need to know

Growing Tech Landscape

The announcement follows the commitment made by Amazon Web Services (AWS) last month to invest $12.9 billion in India's cloud computing sector by 2030.

Google Joins the Digitization Efforts

In a similar vein, Google revealed its plans to establish a global fintech operation center in Gujarat's GIFT City, investing $10 billion in India's digitization fund. These developments highlight India's growing importance in the global tech industry.

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Birla Group's TMRW targets IPO, expands offline

21 June 2023, Mumbai

TMRW aims to be part of India's growing D2C market; Aditya Birla Group's D2C startup TMRW aims for a future public listing and offline expansion. Led by Aryaman Vikram Birla, the platform plans to onboard external investors for its upcoming IPO.

'House of Brands' entity

TMRW, a wholly-owned unit of Aditya Birla Fashion and Retail Ltd (ABFRL), aims to create a 'House of Brands' by investing in online-born brands with substantial online sales. It intends to acquire and nurture over 30 innovative fashion and lifestyle brands. TMRW has already acquired eight brands, including Bewakoof and Urbano, spending a total of ₹289 crore on majority stakes.

Balancing online and offline presence

While TMRW emphasizes digital opportunities, it also recognizes the importance of offline presence for larger brands. The company plans to grow omnichannel opportunities to cater to customers across various channels.

IPO plans are long-term

TMRW's long-term IPO plans align with its strategy to gradually establish an offline presence for brands that require it.

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Birla Group's TMRW targets IPO, expands offline

Sequoia Capital divests stake in Go fashion

14 June 2023, Mumbai

Sequoia Capital Plans Stake Sale; Venture capital firm Sequoia Capital is set to divest a 10.18% stake in Go Fashion, the parent company of Go Colors, through a block deal, with a floor price of ₹1,135 per share.

Business Separation Strategy Revealed

The block deal is valued at ₹624 crore. Sequoia India, the largest VC firm in the country, holds this stake, as per the shareholding pattern shared with the BSE.

The strategic move follows the decision to establish independent firms

Recent developments include Sequoia Capital's decision to separate its US, China, and India-Southeast Asia businesses into independent firms by March 2024. The China business will be named HongShan, while India and Southeast Asia will become Peak XV Partners.  

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Tech boosts fashion shopping

13 June 2023, Mumbai

Flipkart, a leading e-commerce platform in India, highlighted the transformative impact of technology interventions like Image Search, Video Catalog, Virtual Try-Ons, Video Commerce, and Navigated Experiences on fashion shopping.

Technology Interventions Propel Fashion Shopping

This influence was particularly evident during their recent End of Season Sales, which concluded on June 7th. Customers displayed significant interest in leveraging these advancements to access top fashion brands.

Navigated Experiences Gain Popularity

Notably, Video Commerce experienced a remarkable twofold growth in unique visitors compared to the previous month, with customers spending nearly double the time on the app compared to other shopping methods.

Enhance Online Fashion Experience

Flipkart Fashion emphasized the enriched online fashion experience these innovations provide, especially for first-time shoppers. Flipkart also reported that Bengaluru led the pack with the highest number of shoppers, followed by New Delhi, Hyderabad, Pune, and Kolkata.  

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Fashinza Recognizes Top 25 Fashion Innovators

02 May 2023, Mumbai 

Fashinza, a B2B fashion supply chain startup, has announced its list of the top 25 fashion and sourcing leaders for 2023, showcasing experts with extensive experience in supply chain management within India's top fashion brands.

What all you need to know

The list celebrates innovation, sustainability, and best practices in the fashion industry, including brands like Turtle, Pepe Jeans Innerfashion, Bewakoof, and Wildcraft.

Winners were selected based on their impact and achievements, with an emphasis on sustainability challenges and alternative fabrics.

Fashinza connects fashion brands with experienced manufacturers and uses AI-based technology checks and trend forecasting for agility and resiliency in the supply chain.

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