Retail New for Week ending 24th of February 2018
Myntra is likely to pickup 5% minority stake in Bangalore based company Wildcraft. Wildcraft is a Bangalore based company focusing on outdoor and sportswear products. This in line with the ongoing strategy of Myntra partnering with the brands there by making the products exclusively available on their platforms.
Paytm and Zoomcar has announced partnership to provide seamless experience to its customers. Through this association Zoomcar customers, across their platforms like PEDL, a cycle sharing platform, car sharing platform and ZAP can use Paytm’s payment solutions.
Amazon has increased their seller base to 3 Lakh, they are in the 5th year of operation in India. Amazon aggressively increasing their seller base ever since they started their operation in India, the current focus is to add more and more sellers from the tier 2 and 3 cities. They also adding artisans, weavers from the different locations of India and helping them to sell online.
Pepperfry, the largest furniture marketplace hopes to turn profitable by the year 2019 with a targeted GMV of Rs. 2000 crore. They have currently 25 experience stores across the country planning add another 10 more in the year 2018. The idea of experience studios is to create the brand awareness, they dont sell any products through studios.