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Marks & Spencer launches its store on e-commerce platform Amazon.in
Marks & Spencer launches its store on

British brand Marks & Spencer has launched its brand store on e-commerce platform Amazon.in, the company said in a statement. As the online fashion retail market in India continues to grow, the move responds to the changing way Indian customers shop and will help complement Marks & Spencer's 56 stores across 27 cities in India. Arun Sirdeshmukh, Head of

February 28, 2017  |  comments ( 0 )  | 

ShopClues appoints Harneet Singh as VP & Head Marketing
ShopClues appoints Harneet Singh as VP &

ShopClues has strengthened its senior leadership ranks by appointing Harneet Singh as Vice President & Head Marketing and Babu Vittal as Head HR. "These new appointments are in sync with Shopclues' path to profitability," said Radhika Aggarwal, co-founder and CBO, Shopclues in a statement. "Both of them come with solid experience in their respective fields and we look forward to the positive impact of their

February 28, 2017  |  comments ( 0 )  | 

Paytm announces crossing a milestone of 200 million wallet users
Paytm announces crossing a milestone of

Paytm has announced that its user base has crossed 200 million Wallets. Within just three years of launching the Paytm Wallet, the company has reached crossed this milestone, making it the most widely used and accepted payment method in the country.  Paytm’s quick and hassle-free payment system has seen it emerging as the preferred method of payment for a wide variety of use-cases ranging from mobile and DTH recharges to electricity

February 28, 2017  |  comments ( 0 )  | 

Top officials from Samsung indicted on bribery and embezzlement, SK prosecutors
Top officials from Samsung indicted on

The heir to the Samsung empire and four other top executives from the world's biggest smartphone maker were indicted on multiple charges including bribery and embezzlement, South Korean prosecutors said. Lee Kyu-Chul, spokesman for the team probing the corruption and power abuse scandal that has seen President Park Geun-Hye impeached, said, "Special prosecutors today indicted Samsung Electronics vice chairman Lee Jae-Yong... for

February 28, 2017  |  comments ( 0 )  | 

Industry experts predict new opportunities for digital payment companies in FY17-18
Industry experts predict new

Digital payments companies are tempering their expectations of a bumper growth this financial year. India’s campaign to get more people to transact digitally has boosted transaction volumes for companies such as Billdesk and CCAvenue. But a simultaneous measure to lower the fees that merchants pay banks for debit and credit-card transactions is threatening to undo the gains. Payment gateways get a share of this fee. Srinivas MN,

February 28, 2017  |  comments ( 0 )  | 

Paytm partners with places of public worship to enable cashless donations
Paytm partners with places of public

Paytm has announced that it has partnered with several places of public worship including Temples, Churches and Mosques among others to enable cashless donations. Devotees can now scan the Paytm QR Codes installed in the premises to pay their donations instantly. Paytm's QR Code-based payment is fast becoming synonymous with mobile payments in India. The company's zero-cost payment system combined with a large customer-base and wide

February 28, 2017  |  comments ( 0 )  | 

Nokia launches three smartphones and re-launches its classic Nokia 3310 feature phone
Nokia launches three smartphones and

Nokia, besides launching its three smartphones, also re-launched its classic Nokia 3310 feature phone in the market. The device has been launched with the same moniker but with some visual upgrades. The dual-SIM supporting new Nokia 3310 runs Series 30+ and features a 2.4-inch QVGA display. There will also be a 2MP camera along with a microSD card slot. As announced by the company the feature phone has a 22 hour talk time and a 1 month standby

February 27, 2017  |  comments ( 0 )  | 

Raymond aims to grow over 20% in branded apparel business
Raymond aims to grow over 20% in branded

Shares of Raymond, which saw surge in volumes in the past few sessions, jumped over 9 per cent to hit Rs 600 mark in trade on Monday amid rising volumes. The stock jumped 9.13 per cent to hit a high of Rs 609.60 on BSE. A total of 2.53 lakh shares changed hands on the counter on BSE till 11.15 am, which were twice the average volume of 1.23 lakh shares for the past two weeks. The stock has rallied from Rs 500 level on February 16, rising about

February 27, 2017  |  comments ( 0 )  | 

ASSOCHAM concerned over lukewarm response to year-old proposal for keeping shops open all 7 days
ASSOCHAM concerned over lukewarm

Expressing concern over a lukewarm response on allowing small and medium scale shop-keepers to remain open for all seven days, the ASSOCHAM has impressed upon the Centre to ask the states to realise benefits of model Shops and Establishments Bill and adopt the same , for promoting retail trade which is the largest sector employer in the country. Only Rajasthan has so far initiated an exercise for bringing in legislative provisions in sync with

February 27, 2017  |  comments ( 0 )  | 

Godrej Interio targets turnover up to Rs 400 crore in next three years
Godrej Interio targets turnover up to Rs

Godrej Interio, the furniture arm of Godrej Group, is looking to double its mattress segment turnover up to Rs 400 crore in the next three years. Anil Mathur, Chief Operating officer, Godrej Interio, said, "We have around 5 per cent market share in the organised mattress segment now but we are expecting to double our turnover in the next three years. We have a turnover of Rs 170 crore at present from the mattress segment and in the next

February 27, 2017  |  comments ( 0 )  | 

Paytm launches new app on Android and a website
Paytm launches new app on Android and a

Paytm, which was demerged from mobile wallet and payments player One 97 Communications, has launched a separate smartphone application and website for the online marketplace business. The platform called Paytm Mall, inspired by Alibaba's business-to-consumer portal TMall, will focus on structured categories and brand-authorised stores with a focus on electronics, top fashion brands and FMCG categories. The launch of the application comes as

February 27, 2017  |  comments ( 0 )  | 

After Tommy Hilfiger, Calvin Klein, BMI to sell FCUK
After Tommy Hilfiger, Calvin Klein, BMI

The brave and bold four-lettered logo, embossed on the collarless tee, now needs a new patron in India as FCUK’s existing licence holder is looking beyond French Connection for fresh ideas in fashion. "The Murjani Group is trying to sell the FCUK business in India. It will either sell completely or find a strategic investment for the business," said a person directly involved in the proposed divestment. Murjani Group is the owner

February 24, 2017  |  comments ( 0 )  | 

LG Electronics to introduce more India-specific products
LG Electronics to introduce more

LG Electronics will re-enter the low-cost smartphone segment in India by July-August as it aims to get more market share by volume in India, about 70 per cent of which is made up of phones in the sub-Rs 10,000 categories. The company will introduce more India-specific products from now on rather than replicating globally successful models in the country. The Korean consumer durables giant is aiming at double-digit growth in overall revenue in

February 24, 2017  |  comments ( 0 )  | 

DMart IPO buzz brings a windfall for retail stocks
DMart IPO buzz brings a windfall for

Shares of listed retail companies are riding the wave of an impending initial public offer (IPO) by Avenue Supermarts -the owner of DMart chain of stores. DMart, promoted by leading equity investor RK Damani, has whipped up a frenzy in the grey market where its shares are quoting at 25-50% premium to the expected IPO price. This has sparked investor interest in nearly a dozen listed firms involved in either single or multi-brand retail, driving

February 24, 2017  |  comments ( 0 )  | 

MobiKwik to invest Rs 300 crore on acquiring merchants
MobiKwik to invest Rs 300 crore on

Digital wallet MobiKwik, run by One Mobikwik Systems Pvt. Ltd, will invest Rs 300 crore this year on acquiring merchants and users, as it looks to increase its share in the highly competitive payments market. Nearly Rs 50 crore is being invested to set up 13 offices and hire over 1,000 employees, said Daman Soni, MobiKwik's vice president for growth, in a media statement. Soni added, ""By December 2017, the plan is to have 150

February 24, 2017  |  comments ( 0 )  |