Category Archives: India

Marks & Spencer Looks to Double Presence in India

Source: WSJ

UK-based Marks & Spencer is aiming to double its number of stores in India in the next 15 months. With stores in 21 cities in India so far, Marks & Spencer is looking to expand into less-developed cities, while increasing its store footprint in larger cities.

By the end of next year, the company hopes to have 100 stores in the country. One challenge faced by the company may be finding the right locations for new stores as there is intense competition for prime retail locations even though there is a glut of space in numerous malls.

Source: Marks & Spencer Looks to Double Presence in India – WSJ

India’s Yepme raises $75 mln from investors led by Khazanah

YepMe

In series of funding for upcoming fashion startups, India’s YepMe recently raised USD75 million from investors led by Malaysia’s state fund, Khazanah National Berhad.

Unlike many other fashion startups, YepMe makes its own brand name clothing line, in addition to selling other brands on its website.

Source: India’s Yepme raises $75 mln from investors led by Malaysia’s Khazanah | Reuters

Snapdeal will now refund cash instantly

Source: Tech in Asia

One of India’s largest ecommerce companies, Snapdeal, announced that it will be introducing a new instand refunds system in its store, to attract more first time users to shop on its site.

Snapdeal has agreed to use the system refund all types of purchases, including offline and Cash-On-Delivery transactions. Snapdeal’s announcement comes after Flipkart made a similar move to provide refunds within 24 hours of receiving a returned product.

Source: Snapdeal will now refund cash instantly | Tech In Asia

5 Reasons India Could Become the World’s Next E-Commerce Giant

Source: WSJ

In a latest report published by the Wall Street Journal, authors Aditi Malhotra and Eric Bellman explain why India could become the next ecommerce giant. Below is a summary;

  1. Only about 20% of Indians have access to the Internet today. This number is expected to rise quickly with the proliferation of cheap smartphones in the market.
  2. Less than 1% of Indians shop online. In comparison, China was at this same level about 7 years ago.
  3. Currently, only 8% of India’s retail sales come from modern trade channels, compared to 20% in China.
  4. 85% of Indians live in small towns with population of less than 500,000. There are typically few or no modern trade channels available in such locations.
  5. Around 14% of Indians access the Internet through smartphones today. The report forecasts that number to rise to 40% in the next 3 years.

Source: 5 Reasons India Could Become the World’s Next E-Commerce Giant – WSJ