GMV
Purplle group raises Rs 1,000 crore from Abu Dhabi investment authority arm, others
Purplle has also announced a Employee Stock Ownership Plan (ESOP) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company Cofounder and CEO said, they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
More worries for China, sales at big e-commerce festival drop for first time
This year the shopping festival failed to stir up much excitement among shoppers, industry experts said, even as major platforms extended offers to a weeks-long period to woo consumers who have been tightening their belts amid a gloomy economic outlook.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
GetVantange invested in over 750 companies, mostly consumer facing firms in FY24
GetVantage, founded in late 2019, has funded 1,500 companies with a combined GMV of $900 million across categories ranging from B2B SaaS, subscription businesses, D2C, eCommerce, edtech, healthtech, cloud kitchens, and nutrition, among others.
Planning to invest Rs 3,000 crores to add 2,000 beds in 3 years: Suneeta Reddy, Apollo Hospitals
Let us look at both ARPOB, it is over 59,000, it is about Rs 59,0330. We have seen an increase in ARPOB of around 12%, but more importantly just going forward, this is because of a better case mix and price, but definitely improved case mix. With regard to volumes, inpatient volumes grew by 6%, outpatient volumes grew by 9%. And our ARPOB is net of doctors’ fees.
Nykaa’s Q4 revenue rises 28% to Rs 1,667 crore
The operating revenue growth was led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter. For the full financial year, BPC saw a 20% year-on-year increase to Rs 5,385 crore.
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Q4 results today: Sun Pharma, Nykaa, Paytm among 162 companies to declare earnings on Wednesday
162 companies to report Q4 earnings on Wednesday. Nykaa expects 24% BPC and Fashion GMV growth, while Paytm faces a revenue decline from RBI actions. Analysts also predict pressure from discounting and lower advertising income.
Nykaa, Paytm to announce Q4 earnings tomorrow. Here's what to expect
Analysts expect Nykaa to continue the stable trend seen in the last few quarters, while Paytm will likely see a decline in core earnings due to RBI's restrictions on the Payment Bank.
Fashion brand Beyoung enters physical retailing, eyes 300 stores
Beyoung expands offline with first store in Bhilwara, Rajasthan, aiming for 300 outlets to increase GMV. H&M, Puma lead online sales. D2C market to hit $100 billion by 2025. Mandar Dandekar emphasizes omnichannel strategy. Phygital Retail Convention in Mumbai discusses D2C brand growth.
Zomato Q4 Results Preview: Steady earnings on cards after solid few quarters
Zomato Q4 Results Preview: In the previous quarter, the food delivery platform saw a remarkable surge in its net profit, skyrocketing nearly fourfold (283%) quarter-over-quarter to reach Rs 138 crore. Furthermore, revenue from operations in the third quarter showed a robust 69% year-over-year increase, reaching Rs 3,288 crore. These figures underscore the platform's substantial growth and increasing demand for its services during that period.
D2C fashion brand Powerlook aims Rs 300 crore GMV this fiscal
Powerlook sets sights on hitting Rs 300 crore GMV, double the previous year. Emphasis on customer satisfaction, timely delivery, and quality products. Strong offline market presence and collaborations with influencers driving growth.
Govt extends deadline for comments on draft digital competition bill till May 15
It has also extended the deadline for submission of comments by stakeholders on the report of Committee on Digital Competition Law (CDCL). The initial deadline is to end on April 15. Earlier, the Ministry of Corporate Affairs (MCA) had invited comments of stakeholders on the report of CDCL as well as draft digital competition bill under e-consultation module by April 15.
Ebitda positive for last two quarters, says Myntra
Myntra posts strong growth, staying EBITDA positive. GMV growth 2x online fashion market. MAU reaches ~60M by 2023 end. Emphasis on non-apparel, premium fashion, Beauty, and Gen-Z.
Flipkart tweaks merit approach, converts hikes into payouts
Flipkart changes increment policy, offering merit-linked payouts and 100% bonuses to employees. Lump sum payments replace salary hikes. Last year, Flipkart had frozen hikes of 30% staff including senior leadership among tough macroeconomic conditions. In January 2023, ET had reported that Flipkart has begun a workforce reduction exercise that could see its total team size decrease by 5-7% and be completed by March-April as part of performance reviews.
Flipkart valuation declines by over Rs 41,000 crore in two years
The valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart.
Republic Day week saw modest growth for D2C brands: GoKwik
Ecommerce enabler GoKwik reported a 12.72% increase in sales for direct-to-consumer (D2C) brands on its network during the Republic Day sale week compared to the preceding week, with a nominal 10% rise in Gross Merchandise Volume (GMV). Despite a subdued growth in the first quarter of FY 2024 following strong performance in the last quarter of 2023, Republic Day sales were impacted by macroeconomic factors such as high-interest rates and layoffs.
Creator-focussed startup Wishlink raises $7 million from Fundamentum, Elevation Capital
Wishlink said it will use the funds to scale its core ‘fashion’ category by onboarding over 15,000 content creators and 1,000 brands by the end of the year. The proceeds from the current fundraise will also be used to strengthen user experience, expand into newer segments including beauty and personal care, home decor, health and fitness.
Swiggy loss for first half FY24 narrows to $208 million, food business grows 17%: Prosus
Swiggy, whose major businesses include its core food-delivery platform as well as quick commerce venture Instamart, saw overall gross merchandise value (GMV) growth of 28%.
1mg overtakes PharmEasy in market share in top order change
Tata 1mg had a 31% market share in September 2023 against 19% in October 2022 while PharmEasy slipped to 15% from about 33% during the same period, according to a data analysis by third-party internet market research firm Redseer, which ET has seen.
Diwali magic: Online platforms get back their bang after muted start
According to data from Unicommerce, which helps businesses sell online, order volumes for e-commerce grew about 37% during the festive season sale this year, compared to 2022. In terms of gross merchandise value (GMV), online retail registered a growth of 22%.
There is room for us to take debt, but it is not required this year: Suneeta Reddy, Apollo Hospitals
“This year, there is no need for immediate cash infusion in Apollo HealthCo. It is being supported by Rs 130 crore of EBITDA coming from the backend pharmacy. So, there is cash for growth existing within the company and at the right valuation, we will look at a 10% dilution.”
Delhivery sees narrowed losses in Q2 as revenue grows 8% year-on-year
The year-on-year decline in net loss came in though the company’s topline grew as it managed to keep costs under control. The firm saw its consolidated operating revenue rise 8% year-on-year to Rs 1,941.75 crore for the second quarter of the fiscal.
JSW One set to cross $1 billion mark in GMV this FY
"In fact, we will hit the billion-dollar run-rate ahead of that," he said. The platform, which sells flat and long products of steel, stainless less and cement to micro, small and medium enterprises, has seen its sales surge more than four times to over ₹1,700 crore or about $220 million in the first half of 2023-24 (April-March) compared to the previous year.
Amidst a funding winter, large startups show healthier balance sheets; and other tech stories this week
While some startups have shown profits, even those who haven’t been able to get into the black yet reported strong revenue and Ebitda numbers.
Low-cost ecommerce rivals Shein and Temu shelve US court cases
Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and their subsidiaries, requesting that two legal cases be dismissed "without prejudice" by their judges.
Festive sales may fetch Flipkart up to Rs 36,000 crore in gross sales
This year, during the first week of the festive season sales on ecommerce marketplaces, GMV grew by about 18% to around $4 billion, according to Datum Intelligence, a market research firm.
Online platforms clocked GMV of Rs 47,000 crore during week one of the festive season sale
The 2023 festive season sale in India saw online platforms generating a Gross Merchandise Value (GMV) of Rs 47,000 crore in the first week, a 19% growth compared to the previous year. Despite the majority of the sale period falling during the 'shradh' period, mobiles, electronics, and large appliances accounted for 67% of the GMV. According to Redseer's survey, 30% of consumers who purchased high ASP categories used financing options. In the remaining festive season, over 55% of consumers surveyed plan to make more purchases, with fashion being the top category.
Domestic D2C market to reach gross merchandise value of USD 35 billion by 2027: Redseer
Among the 3PL players, Delhivery, followed by Bluedart, stands out as the preferred partner by brands looking for superior tech, and quick and reliable delivery across a larger set of pin codes, the report noted. Further players like Shadowfax and Xpressbees are used by brands where low-cost shipping is a primary criterion, with Shadowfax's reach being more metro-focused.
India to see Rs 90K cr worth e-commerce sales in festive month this year
India is expected to witness a 18-20% increase in online gross merchandise value (GMV) worth Rs 90,000 crore during the festive month, driven by around 140 million shoppers, according to a report by Redseer Strategy Consultants. The report also predicts that the country's e-commerce industry will reach a GMV of Rs 5,25,000 crore for the entire year.
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