Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Amazon.com Inc. on Wednesday said it will invest a further $2 billion in India just a day after the country’s largest e-tailer Flipkart attracted $1 billion of fresh funds, raising the stakes in a nascent but fast-growing e-commerce sector.
Flipkart.com, India’s biggest online retailer, raised $1 billion as investors, including Tiger Global Management LLC and South Africa’s Naspers Ltd., increased their stakes.
MUMBAI, India — Online retailers jostling for a chunk of India's $13 billion e-commerce trade are so desperate to avoid snarled roads and inefficient railways that they fly their packages in the passenger cabin of costly commercial flights. The cargo, however, often gets bumped off.
NEW DELHI, India — Prime Minister Narendra Modi's government could allow foreign direct investment in India's e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told Reuters.
BANGALORE, India — Alibaba Group Holding Ltd will name the 28 people who will control the world's biggest e-commerce firm in an update to its initial public offering filing, the Wall Street Journal said, quoting people familiar with the plans.
MUMBAI, India — Flipkart, India's largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors led by internet-focused investment group DST Global, it said in a statement on Monday.
MUMBAI, India — Flipkart, India’s largest multibrand online retailer, agreed to buy competitor Myntra.com as it seeks to widen its lead over Amazon.com Inc. in the country.
MUMBAI, India — With Amazon.com Inc ramping up its presence in India, two local online retailers are preparing for tougher competition with separate deals worth a combined $400 million set to be finalised this week.
STOCKHOlM, Sweden — Swedish fashion retailer Hennes & Mauritz says it has received all the necessary regulatory approvals and plans to open its first store in India in 2014.