Category — India Market Expansion
In an interview with MoneyControl over Amazon’s India strategy to counter a possible merger between India’s largest e-commerce company Flipkart, and its rival Snapdeal, Amazon’s India chief Amit Agarwal said, “… no matter what happens, even after 20 years, customers will want great selection, great product and fast delivery. So I am going to keep my focus on that… our strategy 20 years later in India will be the same.”
Moneycontrol says that the Indian e-commerce sector is undergoing a phase of consolidation. Last year, Tiger Global-backed Flipkart acquired fashion e-tailer Jabong and is currently in talks to acquire Snapdeal. Earlier this month, it raised $1.4 billion from eBay Inc, Microsoft and Tencent. As part of the deal, eBay’s India business was merged with Flipkart’s.
Amazon has been able to grow its market share in India significantly since the time it started four years ago. In 2016, it pushed Snapdeal to the third position to become the second-largest e-commerce firm in India. Currently, its business is very close to Flipkart’s.
April 21, 2017 No Comments
Netflix and Amazon have each set aside about $300 million for acquiring content to attract subscribers in India.
A comparison between the two companies shows that in India, Amazon Prime Video has an early lead over Netflix, with 9.5 million active subscribers since its launch in December, while Netflix has less than half the number at 4.2 million a little over a year after its launch in India. Besides, the subscription amount of about $7.7 is the same at both companies with one difference: Amazon Prime Video’s subscribers get unlimited ad-free, on-demand service for year, while Netflix offers a subscription for a single month.
However, both companies are equally focused on original content and quality to attract new members. The Hindustan Times says: It’s easy to see why India has become the next battle front for Amazon and Netflix for according to venture capitalist Mary Meeker’s Internet Trends report, the number of Internet users in India grew 40% in 2015 to 277 million.
April 15, 2017 No Comments
Colorado-based Crocs aims to double its India business in 3 years by widening its product portfolio and expanding the number of its retail stores. The shoe maker’s Managing director Deepak Chhabra told Press Trust of India, “We are growing at over 35 per cent year-on-year, and are looking at expanding beyond our core beachwear offerings. We plan to expand our brand to a pure casual footwear brand. Over 4-5 years, we want to be a larger player in the casual footwear category and capture 10 percent market share.”
Business Standard reports that currently in India the company has 1,000 points of sales including over 35 exclusive stores, and Chhabra added, “We plan to open 50 standalone stores this calendar year. Going forward, standalone stores will be an important growth channel for us. We want to expand our retail network in East and North-East part of the country.”
April 14, 2017 No Comments
Headquartered in New York City, global impact investor Acumen is planning to launch an India-dedicated fund, as the investor plans on raising funds from India.
The company was incorporated in 2001 by Jacqueline Novogratz, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and individual philanthropists. Acumen’s work in India spans four sectors—healthcare, education, clean energy and agriculture.
Ajit Mahadevan, India director at Acumen said, “Across the four sectors we work in, we will look at these two enabling themes [technology and financing], because on the back of that you can create accelerated impact. All our education companies have a technology element. In agriculture, the focus is on access to markets using technology,” The impact investor is exploring new avenues such as student and school financing, health insurance and MSME debt financing, reports Livemint.
“Acumen has invested over $100 million globally and the largest country is India. About a third of that has been invested in India, around $32 million, making us the largest non-microfinance investor in our sectors,” added Mahadevan.
April 9, 2017 No Comments
New Delhi-based JetSetGo is a digital platform that provides an enterprise management tool for aircraft operators. It offers cloud-based scheduling, aircraft management, and advanced trip-pricing capabilities with an in-built marketplace for services and parts. It also provides customers the ability to compare and book private charters online with the ability to recoup cost of empty travel legs through a demand aggregation model that helps reduce charter costs.
The company either manages or has exclusive marketing contracts for 16 aircraft–ranging from Falcons to Hawkers to Challengers with 7 to 18 seats. This makes it the largest fleet in India, and the outfit operates anywhere from 4 to 20 flights a day, reports Forbes.
Kanika Tekriwal, CEO and Co-Founder of JetSetGo says, “We will soon be the only travel platform for high-end domestic travel and experiences,” she says. “Our focus is to cater to the $18 billion rapidly growing in-bound travel market and to the travel needs of India’s Ultra High Networth Individuals who are expected to triple in number in the next 5 years. They have very different travel needs, which the current ensemble of online travel companies and startups can really not cater to effectively.”
April 7, 2017 No Comments