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.
Amazon has acquired Perpule, a four-year-old Indian retail startup in a $14.7 million, all-cash deal, according to a Techcrunch report. The American e-commerce behemoth is also expected to pay an additional $5 million or so to compensate Perpule’s employees.
Perpule offers a mobile payments device to offline retailers to help them accept digital payments and also establish a presence on various mini-app stores including those run by Paytm, PhonePe and Google Pay in India.
“Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process and overall customer experience,” an Amazon India spokesperson said in a statement.
Last year, the Bangalore-based start-up also expanded geographically, bringing its offerings to Southeast Asian markets including Indonesia, Malaysia, Thailand, Singapore and Vietnam.
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Amazon has been pushing into the physical retail space in India, largely in order to expand its delivery network and ease logistical challenges that are notoriously difficult in the Indian market.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.
As luxury marketing hits saturation point in Dubai during the Muslim holy month, global brands are ramping up their local engagement in other Gulf cities including Riyadh, Abu Dhabi and Kuwait City.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.