Connect with us

Business

Flipkart shares insights on helping consumers update their winter fashion wardrobe

Published

on

It’s finally time to discuss winter fashion trends. It’s no secret that 2020 has been extremely out of the ordinary, where people have spent more time in sweatpants and leggings than expected. It’s also been the year where zoom calls have replaced in-person meetings, with the emergence of new and more comfortable fashion trends. With seasons changing and people keen to maintain a good winter wardrobe, India ka fashion capital Flipkart has been catering to all consumer needs to suit every occasion.

Flipkart observed some interesting trends on the platform over the past several months when it comes to winter fashion. Blazers under men’s fashion, witnessed a 50% surgein the search queries on the platform, compared to the same period last year. As for women’s fashion, jackets have grown at a rate of 115%, making it one of the most popular products in the women’s fashion category. Also, with consumers taking precautions more seriously than before even while remaining indoors, there has been a significant increase in demand for sweatshirts and sweatersover the last few months.

This year, Flipkart also gave additional importance to ensuring an affordable collection of winter wear, withvarious brands and sellers ensuring there were offerings for every kind of consumer. In addition to smaller fashion labels, popular fashion brands catered to both affordable as well as premium needs, by offering a range of options, including the latest trends.

“During the current winter season, people have depended on e-commerce for many important needs and to fulfil them, we are continuously working with the best brands and sellers. This winter, consumers have been seeking comfortable and trendy apparel to stay warm, with an increase in demand for items like jackets, sweaters, and hoodies. We witnessed almost 60% growth in winter wear for both men and women, during the last two months of 2020, compared to the same period in 2019,” said Nishit Garg, Vice President – Flipkart Fashion.

source: the Statesman

Business

Hyundai Motor’s February sales jump 26%

Published

on

Hyundai Motor India Ltd’s (HMIL) monthly sales rose 26.4 per cent to 61,800 units in February, the automaker said on Monday. In February 2020, the company had sold 48,910 units.

The firm also witnessed a rise in domestic sales by 29 per cent to 51,600 units as against 40,010 units in February 2020, data showed.

Similarly, its exports rose by 14.6 per cent to 10, 200 units in February as compared with 8,900 units in the same month of 2020.

“The company has been consistently striving to drive a resurgence in sales, thereby contributing towards economic recovery and bringing the industry closer to pre-Covid level sales. With a cumulative sales of 61 800 units in February 2021, Hyundai has recorded growth across segments,” HMIL Director (Sales, Marketing & Service) Tarun Garg said.

He further said that both domestic and export demand have recorded healthy double digit growth last month, reflecting an all-round improvement in buyer sentiment.

source: The Statesman

Continue Reading

Business

Bharti Airtel raises $1.25 billion via issuance of debt instruments

Published

on

Bharti Airtel on Thursday announced that it has successfully raised $1.25 billion via issuance of debt instruments. This is the first ever dual-tranche US dollar bond issued by the company spread across senior and perpetual issuance, the company said in a regulatory filing.

The debt fund raising by the company comes just before the start of spectrum auction valued at Rs 3.92 lakh crore.

“Bharti Airtel (“Airtel”), India’s premier digital communications provider, has successfully priced its debt fund raise of US$1.25 billion through the issuance of its first ever dual-tranche US$ bond offering spread across senior and perpetual issuance,” it said.

“This is the largest issuance by any Indian Investment Grade issuer since January 2019,” it addded.

The company said that the order book was over-subscribed about 3 times on final pricing with peak order book of USD 5 billion at time for final price guidance.

“Airtel has priced US$750 million of senior 10.25 year bonds at a yield of US 10 Year Treasury + 187.5bps for an implied coupon of 3.25 per cent. Simultaneously, Network i2i Limited, a wholly owned subsidiary of the Company priced US$500 million in guaranteed subordinated perpetual NC 5.25 year bonds with a coupon of 3.975 per cent,” it said,

This is the lowest ever yield on 10 year and Perpetual bonds for Bharti Airtel.

“The offering was significantly oversubscribed with very strong demand from several marquee Asian, European and American funds,” the statement said.

“The senior 10.25 year tranche was launched at IPG (Initial Price Guidance ) of 230 basis points (bps) over 10 year US Treasuries and eventually tightened by 42.5 bps to price at 10 year US Treasury 187.5bps. Similarly, the perpetual NC 5.25 tightened by 37.5 bps from its initial price guidance,” the statement said.

Barclays, BNP PARIBAS, BofA Securities, Citigroup, HSBC, J.P. Morgan and Standard Chartered Bank acted as Joint Lead Managers and Joint Bookrunners, while DBS Bank Ltd. & SMBC Nikko was the Co-Managers on the trade.

source: The Statesman

Continue Reading

Business

ED to examine documents to see if Amazon dodged regulators

Published

on

Spelling more trouble for e-commerce giant Amazon, the Enforcement Directorate (ED) will examine its documents over allegations that it dodged India’s regulators, sources said on Friday.

An ED source related to the development told IANS, “We will examine the documents of Amazon, as it has been alleged that it favoured big sellers on its India platform, and used them to maneuver around rules meant to protect the country’s small retailers from getting crushed by e-commerce giants, internal documents show.”

This will be the second time in the span of 20 days that the ED will be probing the e-commerce giant in India. In January, the ED had initiated a probe against Amazon for Foreign Exchange Management Act (FEMA) violations.

The probe is being conducted under various sections of FEMA after the central probe agency recently received a communication from the Union Commerce Ministry seeking “necessary action” against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.

The source said that the financial probe agency’s examination of documents is based on the report of a global newswire, which reported that it dodged India’s regulators.

The report said that two sellers on the e-commerce giant’s India platform – merchants in which Amazon had indirect equity stakes – accounted for around 35 per cent of the platform’s sales revenue in early 2019. It means some 35 of Amazon’s more than 400,000 sellers in India at the time accounted for around two-third of its online sales.

The source, however, refused to share further details.

source: The Statesman

Continue Reading

Newsletters

Enter your email address to get latest updates

Advertisement

Trending

Copyright © 2018 - 2021 Delhi Wire.