LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The two e-commerce firms typically hold annual festive season sales ahead of key Hindu festivals Dussehra and Diwali, when many Indian customers make big-ticket purchases such as cars and gold jewellery.
The e-commerce giant is in exploratory talks with India's biggest brick-and-mortar retailer to buy an up to 26 percent stake in India's biggest brick-and-mortar retailer.
Companies like Walmart, which bought a majority stake in Flipkart earlier this year, face increasing pressure to make decisions in light of #MeToo and its worldwide relevance.
The Indian online retailer, owned by Walmart, expects bumper sales during the annual festive season, as it boasts that US rival Amazon Inc is losing relevance in India.
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The acquisition will give the US retail giant a stronger foothold in Asia's third-largest economy, where it has struggled to expand in the last decade.
Launched by two former Amazon employees in 2007, Flipkart has grown to become India's most valuable startup worth $15 billion in 2015.
Krishnamurthy, a former Tiger Global executive, joined Flipkart in June last year as head of its commerce unit.
Enhancing the consumer experience through technology is key to driving long-term growth, Ambarish Kenghe, Myntra's head of product told Reuters on Thursday.
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In the past few years, India experienced its biggest-ever startup boom, with entrepreneurs founding thousands of companies. Now the country is getting its own version of a dot-com bust.
Flipkart’s regular Friday townhall grew tense after employees incensed by hundreds of job cuts openly accused management of betrayal.
Flipkart will buy Rocket Internet SE-backed online retailer Jabong for $70 million in cash to create India’s biggest fashion e-commerce business.
Amazon.com Inc. will invest $3 billion more to build its business in India, stepping up its bet that the country will become a major online-shopping market that will fuel sales growth.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.