Company News
Shopping spree done, Big Three set to dominate India’s e-comm spaceedit
The coming years are likely to see the three global retail giants Amazon, Walmart (Flipkart) and Alibaba (Paytm) dominating the industry. Specialised players like Pepperfry and UrbanLadder in the furniture vertical will have a longer runway to spruce up their game, as Amazon, Walmart and Alibaba will have a lot more on their plate to consolidate before they look at acquiring these niche players.
Publication – The Hindu Business Line (Print)
Date – May 10, 2018
Swiggy to offer employees $4 Mn worth ESOPs Buy back optionedit
The board has approved its first employee stock repurchase programme. The share buyback or ESOPs, which will be implemented in June, is estimated at over $4 Mn. Further, early this year, furniture player Urban Ladder joined the ESOP bandwagon and offered ESOPs in order to attract senior-level talent, as per the MCA documents filed by the company.
Publication – Inc42 (Online)
Date – May 10, 2018
Competition and Industry News
IKEA announces contest ahead of first India storeedit
IKEA, the Swedish home furnishing company, on Wednesday announced a contest in which the winners will experience behind-the-scenes of its first TV commercial to be shot in Bangkok. IKEA is ready to launch its first store in India in Hyderabad soon, to be followed by Mumbai in 2019.
Publication – Business Standard (Online)
Date – May 10, 2018
Greenply’s AP plant to bridge supply gap in South Indiaedit
Greenply Industries’ new 800 crore medium-density fibreboard plant in Andhra Pradesh will help the company bridge supply gap in southern part of India and give them certain competitive advantage, said Shobhan Mittal, CEO and JMD of the firm. The company is in talks with Swedish furniture giant IKEA for supplying it raw material when the latter starts selling furniture in India.
Publication – The New Indian Express (Print)
Date – May 10, 2018