Amazon plans to hire an additional 250,000 workers in the United States for the upcoming holiday shopping season. It’s 67 per cent increase compared to the number of hires made in the previous two years. The decision is part of Amazon’s efforts to expand its next-day delivery services for customers. This hiring surge follows Amazon’s […]
Reliance Retail, under the control of Mukesh Ambani, is reportedly engaged in discussions with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, regarding a potential additional round of investments totaling around USD 1.5 billion. These talks are part of an internal objective to secure USD 3.5 billion in investments by […]
Multinational retail giant Walmart has recently completed a significant financial transaction, purchasing hedge fund Tiger Global’s investment in the renowned Indian e-commerce firm, Flipkart, for a staggering USD 1.4 billion. This acquisition, reported by The Wall Street Journal based on information from Tiger Global’s letter to investors, places a valuation of USD 35 billion on […]
At an investor conference, Walmart’s Chief Financial Officer, John David Rainey has said that Walmart’s Flipkart marketplace and PhonePe payments business in India has the potential to become USD 100 billion businesses due to their strong growth. While specific sales figures for Flipkart and PhonePe are not disclosed by Walmart, the company has emphasised the […]
The global retail giant Walmart is geared up to boost its exports from India, aspiring to reach an annual revenue of USD 10 billion by 2027, according to the news agency PTI. It’s been reported that the organisation is seeking to source toys, shoes, and bicycles from Indian suppliers. Also, Walmart intends to establish new […]
Walmart is laying off more than 2,000 workers at five US warehouses that fulfill website orders, weeks after America’s largest private employer warned it’s in for a tough year ahead, CNN Business reported on Tuesday. The retail giant is cutting more than 1,000 jobs in Texas, 600 jobs in Pennsylvania, 400 in Florida and 200 […]
Citykart, a retailers focusing on family fashion retail in Tier-II, Tier-III and Tier IV towns North and East India, has appointed Ritesh Rathi as its President and COO. Ritesh joined Citykart in February 2023 and will oversee the Strategy, Retail Operations, HR, Marketing, Supply Chain Technology and overall Growth of the business. With more than […]
Walmart Inc. and other PhonPe shareholders will have to pay nearly USD 1 billion in taxes after the digital payments company relocated its headquarters to India, according to the media report. The bill is the result of the relocation and increase in value of PhonePe which Walmart acquired a majority stake in after acquiring parent […]
Connected lifestyle tech brand Noise has announced the appointment of Smeer Chopra as its Chief Financial Officer. In his new role, Chopra will lead the company’s strategic initiatives around financial advisory, optimising costs, establishing and strengthening process efficiency and driving fiscal and financial governance, the company said in a statement. Amit Khatri, Co-founder of Noise, […]
