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 India said it has enabled exports of Indian-made goods worth $3 billion and created over a million local jobs since it began operating in the Asian nation about a decade ago and about $1 billion of that total was generated since January 2020. More than 50,000 offline retailers and neighbourhood stores are now on the platform, the company’s country chief told local business media.
The e-commerce giant is on something of a charm offensive as its fight against rivals Reliance Industries and Walmart’s Flipkart intensifies in a market Morgan Stanley estimates will see $200 billion annually in e-commerce sales by 2026.
Both Amazon India and Flipkart have also come under fire from the Confederation of All India Traders (CAIT) which says they are responsible for destroying India’s retail sector. Effigies of the two companies were burned as part of a CAIT-led protest last month.
This said, the numbers are illustrative of the frenetic pace of growth in Indian online retail since the outbreak of the pandemic and according to Amazon India chief, Amit Agarwal, also shows the company is on track to fulfil a 2020 commitment made by founder Jeff Bezos to digitally enable 10 million businesses, handle e-commerce exports worth $10 billion and create a million additional jobs in India in the five years to 2025.
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This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
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.