The Open Network for Digital Commerce (ONDC) achieved a new milestone during the T20 World Cup final, recording a record 374,000 orders in a single day. This surge in transactions highlights the ONDC’s ability to handle high-volume events and its growing adoption in India’s e-commerce landscape. Notably, the F&B category experienced significant growth, registering 61,000 orders during the same period.
Evolve Back Resorts, known for its boutique experiential resorts, has achieved a significant milestone: 10% of its total occupancy now comes from direct bookings facilitated by Simplotel’s Hotel E-commerce platform. This achievement highlights the effectiveness of Simplotel’s technology in boosting direct bookings and enhancing online visibility for hotels.
Tatyana Bakalchuk, the founder of Russian e-commerce giant Wildberries, has become the country’s richest self-made businesswoman with an estimated net worth of $7.4 billion. Her journey from an English teacher to a successful entrepreneur started with a small investment of Rs 32,000 during her maternity leave. Now, Wildberries, often called the ‘Amazon’ of Russia, employs 48,000 people and generates billions in revenue. Despite her immense wealth, Bakalchuk remains grounded and continues to take risks to fuel the growth of her business empire.
Nandita Sinha, CEO of Myntra, is a seasoned professional with over 18 years of experience in the e-commerce and FMCG sectors. Her impressive career trajectory includes stints at Hindustan Unilever, Britannia, and Flipkart, where she played key roles in customer growth and brand development. Sinha’s leadership and expertise are driving Myntra’s success as a leading fashion marketplace in India.
Ankiti Bose, the co-founder of Zilingo, a successful e-commerce startup, has been making headlines recently for a legal battle against her former business associates. Bose’s journey from a McKinsey & Company analyst to building a billion-dollar company and then facing allegations of financial misconduct is a story of both triumph and controversy.
Dinesh Agarwal, born in 1969, is an Indian entrepreneur who founded IndiaMart, a leading online directory for suppliers and exporters. His journey began in Kanpur, where he pursued a degree in computer science and later gained experience at CMC and HCL. Agarwal recognized the potential of the internet in India and launched IndiaMart in 1995, overcoming initial challenges to build a successful business. Today, IndiaMart has a market capitalization of Rs 15,980 crore and has made Agarwal a successful entrepreneur with a net worth of Rs 5,316.9 crore.
Online food delivery platform Zomato has invested Rs 300 crore in its quick commerce arm, Blinkit, and Rs 100 crore in Zomato Entertainment, its events arm. This investment brings Zomato’s total investment in Blinkit to Rs 2,300 crore since acquiring it in August 2022. Meanwhile, Zomato has said that Blinkit turned adjusted EBITDA positive in March, with the online food delivery platform clocking Rs 194 crore in adjusted EBITDA for the January-March quarter of FY24. The consolidated adjusted EBITDA improved by Rs 369 crore as compared to the same quarter last year. The adjusted revenue was Rs 3,873 crore, a 61 per cent growth (year-on-year) for the quarter, as food gross order delivery (GOV) grew 28 per cent (on-year).
Indian e-commerce companies are experiencing unprecedented growth, driven by increasing smartphone adoption and a vast consumer base. Industry experts believe that major players such as Reliance-controlled JioMart, Walmart-owned Flipkart, Amazon, and Tata Digital have the potential to rival Alibaba in China. These companies are expected to benefit from the country’s growing e-commerce landscape and the potential for vertical e-commerce businesses to thrive.
French luxury conglomerate LVMH and Chinese e-commerce giant Alibaba have deepened their partnership to leverage Alibaba’s cloud and artificial intelligence capabilities. This strategic alliance aims to bolster LVMH’s presence in China, a key market for luxury goods. As pandemic-driven e-commerce growth continues and high-end brands embrace online shopping, the partnership reflects a growing focus on omnichannel retail experiences.
Walmart’s international president and CEO, Kathryn McLay, has indicated that the company is exploring the appropriate time for its Indian subsidiary, Flipkart, to go public. During the company’s earnings call, McLay highlighted the strong performance of Flipkart, including positive EBITDA for Myntra in the last two quarters and growth in premiumization.
