The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MUMBAI, India — India's Paytm E-Commerce Pvt Ltd has raised $200 million from China's Alibaba Group Holding and venture capital fund SAIF Partners to expand its online retail business in a market dominated by homegrown Flipkart and US tech giant Amazon.
Alibaba.com Singapore E-Commerce Pvt Ltd picked up a 36.31 percent stake in Paytm E-Commerce for investing $177 million, according to a regulatory filing by the Indian company that runs an online marketplace.
Alibaba and its associates are also the largest shareholders in One97 Communications, which has a stake in Paytm E-Commerce.
SAIF Partners' $23 million investment will give it a 4.66 percent stake in Paytm E-Commerce, the filing showed.
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Alibaba Group is looking to invest outside China as growth slows at home.
In its biggest overseas deal, Alibaba in April agreed to buy a controlling stake in Southeast Asian online retailer Lazada Group for about $1 billion.
Paytm Payments Bank Ltd, another company of the group, houses its electronic payment wallets and planned payments bank business.
Paytm has said its e-wallet service has more than 200 million clients in India.
By Sankalp Phartiyal; editor: Richard Borsuk.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.