MULTICHANNEL NETWORKS
Consumer spending on ITCs' goods rises 12 pc to Rs 32,500 crore in FY24
ITC, headquartered in Kolkata, remains optimistic about expanding its FMCG business with a strong portfolio and efficient supply chain, generating a gross revenue of Rs 69,446 crore in FY24.
Canara Bank starts IPO process to take Canara HSBC Life public
The IPO, if approved by the regulators including RBI, the Department of Financial Services, and the union government, will pave the way for Canara HSBC Life's listing on both exchanges.
Reliance Retail partners with UK-based fashion retailer ASOS
India's largest retailer, Reliance Retail, has signed a long-term licensing agreement with UK's leading online fashion retailer ASOS, bringing the brand to India. Reliance Retail will be the exclusive retail partner for ASOS across all online and offline channels in India, introducing its curated portfolio of fashion-led own brand labels through a multi-channel presence and diverse retail formats.
Reliance Retail partners with ASOS to bring brands like ASOS Design to India
Reliance Retail and ASOS have announced a long-term partnership to establish a multi-channel presence for ASOS's own brands in India. Reliance Retail will manage all online and offline channels, including exclusive brand stores, multi-brand store expressions, and digital commerce platforms. This marks ASOS' first country-wide exclusive retail partnership.
A Tesla rival is driving into India. What lies ahead for it
VinFast, a small electric vehicle (EV) maker backed by Vietnam's largest conglomerate, is expanding into India. The company plans to establish a $2 billion EV facility in Tamil Nadu and intends to build a nationwide dealership network. VinFast aims to offer affordable alternatives to Tesla in the Indian market and capitalize on the growing demand for EVs. Despite the challenges of the Indian EV industry, VinFast could have an advantage as one of the first EV-only companies operating in the country.
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DoT revises methodology for levying spectrum charges on captive users
The Department of Telecommunications (DoT) has revised its methodology to charge spectrum charges on captive users, rationalizing fees paid by such players. The new concept is area-based, benefiting industries like Railways, ONGC, BHEL, and mining. The DoT will also provide three months of grace time for setting up networks, with no spectrum charges for the period.
HSBC India launches 'ONDC in a box'
HSBC India has launched 'ONDC in a Box', making it the first foreign bank in India to offer an ONDC-enabled proposition. The Open Network for Digital Commerce (ONDC) enables buyers and sellers to transact on an open, interoperable network without needing to be on the same platform. HSBC India's proposition includes banking services, ONDC modules, and digital payment solutions. The ecosystem partners, Protean eGov Technologies and Shayr Omnichannel, offer front-end applications and multi-channel integration.
DOMS Industries files draft IPO papers
The proposed IPO comprises a fresh issue aggregating up to ₹350 crore and an offer for sale of up to ₹850 crore from existing investors.
Supply chain firm Prozo to add one million sq ft warehousing space every year
Established in 2015 and headquartered in Gurgaon, the company has successfully secured funds totalling Rs 131 crores to date from investors such as Sixth Sense Ventures, JAFCO Asia, among others.
Prozo opens 23,000 sq ft Multi-Channel Fulfillment Center in Lucknow
Sometime back, Prozo had raised a total amount of Rs 45 crores in a Pre-Series B round in form of both debt and equity.
RBL Bank, ICICI Prudential join hands for bancassurance partnership
As many as 398 RBL Bank branches across 28 states will distribute ICICI Prudential Life's protection and savings products, according to a joint press release issued on Wednesday.
Brokerages bullish on SBI Life post Q4 results
The company’s net premium income during the March quarter of FY20 increased to Rs 11,862.98 crore from Rs 11,333.02 crore a year earlier.
Bata to use multi-channel retail strategy to reach more customers
The company, which has a retail network in 450 towns, is further expanding by adding new stores in smaller towns through franchise route.
Netcore Solutions acquires Boxx.ai
Boxx.ai predicts what each visitor is likely to buy next using its proprietary algorithms.
Airtel picks Nokia to put 5G equipment on trial
This trial is part of Bharti Airtel’s strategy to make its network future ready to meet the growing demand for high speed data.
Agritech startup Farmersfz raises investment from Indian Angel Network
Kochi-based agritech startup, Farmers Fresh Zone Pvt Ltd (FarmersFZ) said it has raised an undisclosed amount in seed round of funding from Indian Angel Network (IAN) and its maiden VC Fund, IAN Fund.
DEN Networks exits JV with Star India by selling stake
DEN Networks today exited its 50:50 joint venture with Star India by selling its stake for a total consideration of Rs 40.35 crore.
DEN Networks exits JV with Star India by selling stake
DEN Networks today exited its 50:50 joint venture (JV) with Star India by selling its stake for a total consideration of 40.35 crore.
Facebook goes for "exclusive video" overdrive; offers free advertisement credits to video content creators
Facebook is making an aggressive bid to lure video creators, actors and top artists in India, striking exclusive deals to have first dibs at video content.
Reliance Retail to launch multi-channel shopping across all formats
To tap the fast growing e-commerce segment, Reliance Retail, an arm of Mukesh Ambani-led Reliance Industries, plans to launch multi-channel shopping across all its formats.
Culture Machine raises $18 million from hedge fund Tiger Global Management, Times Internet
The deal, which marks the largest investment in the multi-channel network (MCN) space in Asia, comes amid rising investor interest in the space.
Multi-channel networks get attention from angel investors
Angel investors' consortium headed by Monisha Advani of Emmay, invested in Ping Digital's 2nd round of fundraising leaving about 65% stake with promoters.
Den selects STMicroelectronics chip for its set top boxes
STiH273(Palma) HD cable chipset, selected by Den Network would deliver high-definition content which would be almost five times better in video quality.
Convergys confident about India growth; investing $25 million
"Convergys is an American company, but we are making such huge investments. As we speak, we are investing almost $25 million plus in our real estate."
IMImobile launches cloud-based mobile engagement platform
IMImobile, a mobile data technology provider, today announced the launch of IMImobile OpenHouse, a cloud-based mobile engagement (m-Engagement) platform.
Infotel may scale down 4G gear purchases from Samsung after disqualification in China Mobile tender
RIL-owned Infotel Broadband may cut its 4G gear purchase plans from Samsung after China Mobile disqualified the conglomerate on technical grounds.
Walmart to acquire India-born entrepreneurs' social media site
The world's largest retailer, Walmart has announced acquisition of social media site Kosmix, a Silicon Valley firm founded by two IIT Chennai alumni.
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