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Amazon To Double Down On Indian Investments

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AMAZON TO DOUBLE DOWN ON INDIAN INVESTMENTS,Startup Stories,Amazon Latest News,Amazon Reiterates Plans to Double Down on India Operations,Amazon to double investments in India scale up digital payments,Amazon to double investment in India, add UPI to Amazon Payments,Amazon India to double storage

Ecommerce giant Amazon plans to double down on its investments in India, according to the Amazon India Chief, Amit Agarwal. The future investments will be used to focus on key areas such as its digital payments platform Amazon Pay and the Prime membership program.

Despite homegrown ecommerce firm Flipkart claiming the top position at this year’s month long festive season sale, Agarwal believes this was their biggest season ever. “If we look at last Diwali, more than 70% of the customers repeated (purchases) many times during the year. In fact, one out of every five of them became Prime members. And this year, the number of transacting customers from last year was more than two times,” he added.

Last week, the company claimed to have grabbed a 44% share of the total customers and shopping volume, which was higher than any of its competitors. However, Flipkart disputed Amazon’s claim and maintained that it had been the undisputed leader during the festival season.

Amazon founder and Chief Executive Officer Jeff Bezos made a commitment to invest close to $ 5 billion in the lucrative Indian market. While the Seattle based firm has already invested more than $ 2 billion to scale up its Indian business, Amazon recently pumped Rs. 260 crores in its online payments platform Amazon Pay service.

Meanwhile, many Indian startups, in an attempt to level the playing field, have voiced concerns over the aggressive spending of global giants like Amazon and Uber in local markets. To this end, several founders of homegrown companies have launched the lobby group, Indiatech.org, to rally the government to create policies that serve the interest of smaller Indian companies.

Speaking about the lobby group headed by Flipkart founder Sachin Bansal, Amit Agarwal said, “I am as much as an Indian as anyone else out there and Amazon India is as much an Indian company as other startups. Other startups are as foreign in their investment profile as any other company. So I really don’t understand this. But our focus is very much on serving customers and we are committed to the long term.

Speaking to a news daily, the Amazon India head also stated, “Capital coming (sic) in India, whether it’s VC capital or other companies bringing in that capital, is good for the country. It’s just building more infrastructure and solving so many more problems. So free flow of capital is good for the country.”

SoftBank, which is an aggressive investor in India, has fueled thousands of dollars into several Indian companies like Ola, Uber, Flipkart, OYO and Paytm. Recently, SoftBank along with other venture capital firms like Matrix Partners and Kalaari Capital also joined the lobby group to provide financial and strategic expertise to the member companies.  However, SoftBank’s move to join the lobby group has raised concerns as the venture capital firm is in talks with San Francisco based cab hailing startup, Uber, for a major investment. 

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Quick Commerce Set to Boost HUL’s Revenue

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StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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Acevector Limited Announces New CEOs for Snapdeal and Stellaro Brands

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Acevector

Acevector Limited, the parent company of Snapdeal and Stellaro Brands, has announced significant leadership changes within its organization. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the role of CEO of Stellaro Brands.

Himanshu Chakrawarti to Lead Stellaro Brands

Himanshu Chakrawarti has successfully led both Snapdeal and Stellaro Brands for the past three years. In his new role, he will focus exclusively on driving growth at Stellaro Brands, which houses various apparel brands, including Rangita. Chakrawarti brings over 30 years of experience in the retail industry, having held leadership positions at notable companies such as Trent, Arvind, and the Landmark Group. His extensive background in brand building and retail operations will be instrumental in scaling Stellaro’s growth.

Strategic Focus

Chakrawarti’s shift to Stellaro Brands allows him to leverage his experience to enhance the brand’s market presence and operational efficiency. His leadership is expected to drive innovative strategies that align with consumer trends and preferences.

Achint Setia to Head Snapdeal

Achint Setia takes over as CEO of Snapdeal, bringing a wealth of experience in e-commerce, media, telecom, and government services. He has a proven track record in business building, marketing, strategy, and technology. Prior to joining Snapdeal, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held senior leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft.

Background and Expertise

Setia holds an MBA in Strategy & Finance from the Indian School of Business and completed the Stanford GSB LEAD program in Corporate Innovation. His diverse experience positions him well to lead Snapdeal through its next phase of growth as it navigates a competitive e-commerce landscape.

Focus on Growth and Innovation

These leadership changes are strategically aimed at driving growth and innovation across both Snapdeal and Stellaro Brands. With experienced leaders at the helm of each business, Acevector Limited is well-positioned for continued success in the dynamic Indian market.

Market Positioning

The transition comes at a critical time for Snapdeal as it seeks to strengthen its market position amid rising competition from other e-commerce platforms. Setia’s expertise in digital ecosystems is expected to enhance Snapdeal’s offerings and customer engagement strategies.

Recent Developments at Acevector Limited

Acevector Limited has been actively involved in restructuring its operations to optimize performance across its portfolio. The company has previously made headlines with initiatives such as:

  • The formalization of a group structure encompassing Snapdeal, Unicommerce, and Stellaro Brands.
  • Strategic investments aimed at enhancing technology capabilities and expanding service offerings.

Conclusion

The appointment of Achint Setia as CEO of Snapdeal and Himanshu Chakrawarti as CEO of Stellaro Brands marks a pivotal moment for Acevector Limited. These strategic leadership changes are designed to leverage their extensive industry experience to foster innovation and drive growth across both brands. As they embark on their new roles, the focus will be on enhancing operational efficiencies and adapting to evolving market demands within India’s competitive e-commerce sector.

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