While the rise of Delhivery has been quite spectacular since its beginning in 2011 to become India’s first unicorn in logistics technology space, but it would leave room big enough, unlike e-commerce, food markets etc., for other startups including Ecom Express, Xpressbees, Shadowfax etc. in the e-commerce logistics space. Written By Sandeep Soni E-commerce logistics startup Delhivery this month catapulted to the hallowed unicorn club with the valuation hitting around $1.5-billion mark after it raised around $400 million from SoftBank, Carlyle Group and Chinese conglomerate Fosun. While the rise of Delhivery has been quite spectacular since its beginning in 2011…
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Written By Naveen Menezes & Alnoor Peermohamed, ET Bureau BENGALURU: Ola’s licence to operate cab services in Karnataka is set to be restored after it pays a penalty levied by the state transport department, possibly as early as Monday. The transport department has decided to lift the six-month suspension imposed on Ola on Friday for running “illegal bike taxi services” in violation of its licence after the chief minister intervened. “I convened a meeting on the directions of chief minister HD Kumaraswamy. The chief minister wants the suspension order to be revoked and I have conveyed the same to the…
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After restructuring its prices, the British retail giant is focussing on womenswear and lingerie to expand in India. Written By Ankita Rai After nearly two decades of operations here in India, British retailer Marks & Spencer (M&S) has launched Rethink, its first India-specific marketing campaign. It seems like the brand has done a bit of rethinking itself. The retail major has launched a revamped product range at competitive prices, and also brought in a service proposition by introducing in-store stylists. M&S India has identified womenswear and lingerie as its key focus areas, with an eye on tier II markets for…
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Written By Aditi Shrivastava & Samidha Sharma, ET Bureau BENGALURU | NEW DELHI: In what would be one of the most significant consolidation moves in the sector, Uber Eats, the food delivery arm of the global ride-hailing platform, is in final stages of negotiations to sell its India business to rival Swiggy, three people privy to the development told ET. The deal, which is expected to close by next month, will be Swiggy’s largest acquisition till date, and Uber’s first divestment of its food business globally. The transaction is likely to be a share swap, sources said, giving Uber about…
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Written By Sagar Malviya, ET Bureau MUMBAI: 7-Eleven, the world’s largest convenience store chain, is in advanced talks with India’s Future Group to enter one of the fastest-growing retail markets. If the plan goes ahead, the Kishore Biyani-owned retail company will open and operate small format 7-Eleven stores in India as a master franchisee, said two people aware of the development. A deal may be announced as early as March, they said. “While the stores will have products across categories, foods will have a greater focus,” one of the persons said. Seven & i Group, which owns 7-Eleven among other…
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