Written By Nishant Sharma Solimo, Symbol, Myx, Vedaka and Presto.You may have bought products from these brands on Amazon India. But what you may have missed is that these, and many other labels, are owned by Amazon Inc. itself.The world’s largest online retailer brought its AmazonBasics label to India in 2015. It launched another brand Solimo, offering home appliances and household items, the same year. The company now sells 10,000 products, including clothi... Source: bqprime
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Written By PRIYANKA PANI As Mukesh Ambani-led Reliance Retail, the retail arm of Reliance Industries, gears to enter e-commerce in the next few months, the key question is whether it can disrupt the market the way Reliance Jio did in telecom. Reliance already has a presence in the online segment with its fashion portal Ajio.com and Reliancetrends.com which compete with fashion e-tailers Myntra, Jabong and Koovs. Soon, it will launch a consolidated e-commerce platform to take on Amazon.in and Walmart-owned Flipkart.com that currently sell everything from vegetables to large home appliances. However, Amazon and Flipkart are marketplaces and not e-tailers…
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Written By Aditi Shrivastava, ETtech Nearly three months after Amazon.com Inc said India's revised foreign investment rules would hurt both customers as well as sellers, the e-commerce giant indicated the impact had been minimal in the first quarter of the year, although the claim could not be independently verified in the absence of India-specific revenue or sales data. While the new rules effective February 1 caused a few days of downtime in certain categories, the overall impact on sales was minimal, Amazon told investors in a conference call after announcing its first quarter results on Thursday. "We did make some…
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Written By Varsha Bansal Jeff Bezos, chief executive of Amazon.com Inc. India in Amazon's largest market outside of the US. (Mint) Bengaluru: Amazon.com Inc.’s retreat from China will allow the e-commerce giant to free up resources to sharpen its focus on India, its largest market outside of the US. The Seattle-based company will shut down its Chinese marketplace business, while shifting its focus to offer mainland consumers overseas products rather than goods from local sellers, says a Bloomberg report. Amazon’s decision to shut its Chinese marketplace business after struggling to compete with local rivals such as Alibaba Group Holding Ltd…
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Written By Writankar Mukherjee, ET Bureau KOLKATA: India’s largest retailer Reliance Retail’s cellphone and consumer electronics retailing business crossed the $5-billion revenue mark in the year to March, underscoring the breadth of its market presence. Sales in these two categories — which account for about a third of the total — through Reliance Digital and Reliance Jio stores more than doubled to Rs 39,170 crore in FY19 from Rs 15,154 crore in FY18, according to the company’s investor presentation made to analysts. Reliance attributed the growth to having the largest network of stores and enjoying a first-mover advantage in many…
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