Big boys of retail want to move online

New Delhi: Brick-and-mortar retailers such as Future Groups’s Big Bazaar and Aditya Birla Retail are understood to be ramping up their back-end to gear up to the e-commerce revolution. The idea is to find additional revenues, reach out to Net-savvy consumers as well as mitigate costs related to real estate among others. Players such as […]

ShopClues plans to raise $50 million

ShopClues.com, India’s first and the largest managed marketplace firm, is looking to raise $30-50 million (Rs 180-Rs 300 crore) in private equity (PE) investments. The Gurgaon-based company is understood to have initiated talks with PE players such as Warburg Pincus, SoftBank, Digital Sky Technologies and Goldman Sachs for this round of fund-raising, which is expected […]

Flipkart launches payment gateway solution for merchants

Flipkart, India’s largest e-commerce company has launched its own payment gateway service called PayZippy. The current version of PayZippy will only power card payments for websites and mobile sites of Indian merchants. The company however said it would soon launch a larger customer-centric payment gateway solution. “This launch is a pre-cursor for a larger customer-centric […]

MNC retailers may get to enter smaller cities too

NEW DELHI: The government may allow foreign multi-brand retailers to set up stores in cities with a population of less than a million, a measure that is part of the possible relaxation of norms that the department of industrial policy and promotion (DIPP) is examining. A senior official said the commerce and industry ministry might […]

Biyani reboots retail ambition with ‘I am in’

A year after selling off the Pantaloons fashion piece to Aditya Birla Nuvo for R1,600 crore in a bid to deleverage his business, Kishore Biyani is back in business. His Future Group is set to re-enter the fashion space with an altogether new store brand ‘I am In’. As in the case of Pantaloon, the […]

EPFO to launch online provident fund claim settlement facility in July

New Delhi: The Employees’ Provident Fund Organisation (EPFO) will launch online provident fund transfer and withdrawal facility in the first week of July, benefiting over 50 million subscribers. “We are planning a soft launch of facility to apply online for transfer and withdrawal of the provident fund on July 3 or 4,” K K Jalan, […]

Walmart may face fresh probe in lobbying issue

New Delhi:  Walmart may face a fresh probe into its lobbying activities for entering India, after issues raised by a one-man inquiry committee set up by the government, were stonewalled by the global retailer. The inquiry conducted by the panel remained inconclusive and it was not satisfied with the replies provided by the US-based retail […]

Food chains creating Buzz in Chandigarh

With Buzz opening today a swank and up-market fast food restaurant in Chandigarh, the city has suddenly become a hot spot for food chains. Buzz – a franchise of Buzz Delhi – comes on the heels of Underdoggs, Coffee Bean & Tea Leaf, Rajdhani, NYPFC, KFC, Sindhi’s, Nandos, Spanish Spaghetti, Sams Pizza, McDonalds, Sundrams and […]