BUSINESS OF E-COMMERCE
E-COMMERCE Amazon India launches Forever 21
Pic courtesy : Forever 21
Amazon India has announced the launch of Forever 21 on Amazon Fashion . The launch has strengthened Amazon Fashion ’ s commitment to bring the latest fashion trends and a selection of choicest global brands to customers ’ doorsteps across the country . The launch adds yet another brand to Amazon Fashion ’ s growing portfolio of women ’ s western wear brands .
The American fast fashion brand has an eclectic mix of over 1,000 trending styles across women ’ s apparel , shoes , bags and jewellery .
Fynd adds 8500 brand stores on its network
Pic courtesy : Fynd
Fynd , India ’ s innovative online fashion portal , has marked its position as the country ’ s largest omni-channel network , with a massive integration channel that spreads to every corner of the country . Fynd , which is on a rampant integration spree with numerous stores added as its partners each month , has already added over 8,500 brand stores on its network .
This has ensured that Fynd provides the fastest delivery of products amongst all the e-commerce players , while maintaining impeccable quality of items .
Fynd has achieved an inventory figure of 500,000 units , which is at par with the biggest e-commerce players in India . Thus , chances are pretty slim for buyers on Fynd to come across those frustrating ‘ Out of Stock ’ notifications .
RETAIL
H & M to begin online sales in India next year
Hennes & Mauritz ( H & M ), the international retailer known for fashion and quality at the best price in a sustainable way , will roll-out online sales in India next year . This is an initiative by the Sweden-based retailer to meet the increasing demand from India . The group ’ s e-commerce sales are estimated to grow by at least 25 per cent per year going forward .
Overall , H & M is continuing to improve the online store and are adding more and faster delivery options , while at the same time further broadening the range of products online . In some of H & M ’ s established markets , online sales account for nearly 25-30 per cent of the total sales .
Zara begins e-sales in India
In line with the ongoing international expansion of its integrated store model , fast fashion brand Zara has begun its online sales in India . The Spanish retailer will be selling its products throughout the country via website and
Pic courtesy : Zara
mobile application .
The range found in all the 21 stores of Zara across eight Indian cities will be available online for selling , said Echevarria Hernandez , chief communication officer of Inditex , in a statement .
In a span of 2-4 working days , the deliveries will be made to metro cities including Mumbai , Delhi , Ahmedabad , Kolkata , Chennai , Hyderabad and Bangalore , while for the remaining areas , it will take around 5-8 working days .
FASHION
Myntra wins India master distribution rights for Esprit
Global casual fashion brand Esprit has granted Indian firm Myntra its master distribution and management rights in India . Myntra plans to curate and facilitate 15 Esprit stores in the country over the next five years and list the brand exclusively on Myntra and Jabong platforms . This will enable Myntra to establish and strengthen Esprit ’ s presence in India .
Pic courtesy : Myntra / Esprit
The association of the two companies started in November 2016 , when the first Espirit collection was launched online on Myntra . Hong Kongheadquartered Esprit , founded in 1968 in San Francisco , has performed extremely well on Myntra ’ s platform , according to a press release from the latter .
HOME TEXTILES
Amazon trying to enter Turkish home textile product market
Amazon has noticed Turkey ’ s potential in e-commerce and is discussing with the Turkish ministry of economy to enter the market there , according to Süleyman Kocasert , chairman of Denizli Exporters ’ Association ( DENIB ), which represents exporters based in Denizli , an industrial city in the country ’ s southwest dubbed as ‘ the capital of textile ’.
Top executives of Luxembourg-based Amazon Europe , hosted by Turkey ’ s ministry of economy , met DENIB exporters and briefed them on possible ways of cooperation and trading methods on the Amazon platform . They also inspected the production technology , quality and delivery speed at the manufacturing sites , Turkish media reported .
As e-commerce in Turkey is in its initial stage with a share of less than 5 per cent of the total home textile product exports , cooperation with Amazon will offer the needed boost to the country ’ s trade , Kocasert said . He expects Amazon to quickly increase its purchases from Denizli .
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