Nykaa’s new growth frontier
The markets started the week on a weak note as Sensex ended the day 638 points lower and the Nifty ended below 16,900. Except for pharma and oil, all sectors were in the red as global markets remain spooked by recession fears.
But the falling markets haven't dampened the shoppers who are out looking for the best deal out there during the festive season. Ecommerce giant $5.5 billion in eight days of the festive season, our sources told us.has clocked close to
The festive season also underlines the importance of the D2C ecosystem in India, and YourStory is committed to discovering, showcasing, and amplifying high-potential emerging D2C brands. Brands of New India’s "500 Challenger Brands" initiative is all set to release its final cohort of 100 challenger brands. If you think your brand stands apart from the rest, apply here.
ICYMI: A group of 26 women defied fears of harassment and cycled 200 km around Bengaluru. They weathered rain, traffic and waterlogging to highlight the issue of lack of toilets for women on highways and in villages.
In today’s newsletter, we will talk about
- New growth frontier
- The collapse of an acquisition
- Inside India’s festive sales
Here’s your trivia for today: Which is the largest district in India in terms of size?
Beauty and Wellness
is doing many things at once—growing its premium global brands offering, taking its own brands to international shores, and adding more physical stores in Tier II and beyond cities—to make the most of the festive season and post-pandemic rise in consumer spending.
It hopes that its international brands business housed under its Global Store and its plans for physical stores will help it build momentum in the Beauty and Personal Care (BPC) segment.
- The BPC segment accounted for nearly 89.6% and 93.6% of Nykaa’s total revenues for FY 2021-22 and FY 2020-21, respectively.
- With international brands, Nykaa expects to grab the attention of premium consumers.
- Nykaa is looking to have a total of 300 physical stores in the ‘near term’ to integrate both online and offline shopping offerings.
PayU Payments's much-awaited acquisition of BillDesk for $4.7 billion has been terminated, shortly after it was cleared by the competition watchdog, abruptly ending a potentially crucial deal for India's payments sector.
PayU's Netherlands-based parent, Prosus NV (previously Naspers), said in a statement Monday that the agreement was terminated automatically after certain conditions were not fulfilled by "the 30 September 2022 long stop date".
- Speculation is rife that Prosus may have reevaluated the price it was paying for acquiring the Indian gateway business given the devalued funding winter scenario.
- A merged PayU-BillDesk entity would have made for the largest payments company in India, eclipsing rivals, including and , who have been rapidly gaining scale.
- The deal was also significant because, if it had gone through, it would have been the second-largest buyout in India's internet sector, behind Walmart's $16-billion acquisition of Flipkart in 2016.
- The combined PayU-BillDesk entity would have emerged as one of top online payments providers—both globally and locally—with an annual total payment volume (TPV) of $147 billion.
As the first phase of ecommerce festive sales comes to an end, ecommerce platforms reported nearly 5.4X growth in their overall daily sales. Ecommerce shipment volumes also grew 3X over business-as-usual days during the sale period.
Flipkart and its group companies, India, , and other ecommerce platforms, which conducted sales during September 22 to October 1, reported significant demand from Tier II and III cities during the period.
- Mobile phones saw a slight dip as more consumers shopped offline in the first COVID-free sale event. Nearly 50-60% of all smartphone sales during the online festive period happen in the first week of sale.
- Amazon India recorded a 2X jump in its customer base from Tier II and III cities during the first 36 hours of its festive season sale as they accounted for 75% of its total customer base. Flipkart saw over 60% of customers from Tier II and III cities.
- Apart from smartphones, people from non-metros also shopped largely for unbranded fashion and accessories, followed by beauty and personal care.
News & updates
- Low-cost laptop: Reliance Jio is reportedly gearing up to launch budget-friendly laptops under the price tag of Rs 15,000. It has joined hands with global giants Qualcommm and Microsoft to deliver 'JioBook'.
- Reality bites: Reality TV star Kim Kardashian will pay a $1.26 million fine for not disclosing the $250,000 she received for advertising EthereumMax on Instagram. She and others were sued by EthereumMax in an alleged 'pump and dump' scheme.
- Nobel Prize: Swedish scientist Svante Paabo won the 2022 Nobel Prize in Physiology or Medicine. His key achievements include sequencing an entire Neanderthal genome to reveal the link between extinct people and modern humans.
Here’s what you should watch out for
- Consumer durables retail chain Electronics Mart India will open its IPO, with the price band of Rs 56-59 per share.
- Prime Minister Narendra Modi will inaugurate the UN World Geospatial Information Congress (UNWGIC) in Hyderabad.
Which is the largest district in India in terms of size?
Answer: With an area of 45,674 sq km, Kutch in Gujarat is the largest district in India. Its capital, Bhuj, was the epicentre of a major earthquake in 2001.
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