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Flipkart Reports 43% Rise In GMV Growth

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Flipkart, India’s biggest ecommerce company reported a 43% rise in Gross Merchandise Value (GMV) for six months quarter which ended on 30 September 2017. As per a half yearly financial report from Flipkart’s investor Naspers, the ecommerce giant has seen a considerable jump in its market share from the same period a year ago. However, the company did not disclose Flipkart’s GMV. The report states, Flipkart’s share of monthly GMV stood at roughly 58% in June this year, up from 45% in June 2016.

Flipkart, according to the report, has further strengthened its position in the Indian ecommerce ecosystem.  The ecommerce company has been able to consistently hold its own against Amazon India during the recently concluded festive season sale. Despite facing a tough 18 months and loosing considerably market share, Flipkart managed to secure substantial capital from investors such as Tencent and SoftBank.

In the report, Naspers said, “Flipkart, the group’s equity accounted investment in India, continued its growth acceleration and further solidified its market leadership. During the recent festive season sales period, Flipkart captured around 70% of the total ecommerce market.” In the report, Naspers further added Flipkart.com is the category leader in 12 of 20 focus categories, including mobile phones, TVs, laptops and fashion. Currently, Naspers holds a 14% stake in Flipkart.

Meanwhile, Flipkart’s chief rival in the ecommerce industry, Amazon.com, claims it is the second largest player in traffic, accounting for 58% traffic on personal computers, 129% on mobile web and have 52% more app downloads. An Amazon spokesperson also said, “There are no credible third party reports analyzing the growth of the ecommerce sector in India. Though as per the recent Kantar IMRB reports for the festive season, Amazon.in leads with the highest customer share of 44% and order share of 42%.”

Flipkart saw a turnaround in its sales revenue after Kalyan Krishnamurthy took over as the CEO. Recently, mutual fund investor Morgan Stanley also marked up the valuation of Flipkart to $ 9.36 billion for the September quarter. This mark up comes after Morgan Stanley marked down the ecommerce company’s valuation for five consecutive quarters. While Amazon India has successfully built its brand name in the country, it is still facing cut throat competition from Flipkart to capture the Indian ecommerce market which is poised to reach $ 200 billion by 2026.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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