reliance retail

Even as quick commerce is slowly fading in many markets and several heavily-funded startups have folded in the past two years, India is emerging as a striking outlier where the model remains vibrant. India’s quick commerce market has witnessed a staggering 10-fold growth between 2021 and 2023, fueled by the sector’s ability to cater to the distinct needs of urban consumers seeking convenience for unplanned, small-ticket purchases. However, despite this rapid expansion, quick commerce has only captured a modest 7% of…

An Indian startup Skill-Lync is the latest company to join the list of tech layoffs. As reported by MoneyControl, the startup that offers an upskilling program has laid off nearly 160 employees. This is the second round of layoffs as the company has already laid off some employees in April this year. “I would like to address the reported layoff figure, which accurately stands at 20%. It is important to note that our current total headcount is approximately 800 employees,” PaneerSelvam said in a statement given to…

Quick commerce platform Dunzo lays off 30% of its workforceTrouble continues at Reliance Retail-backed Dunzo. Crisis seems to be deepening for Bengaluru-based Dunzo, which is backed also by Google. The company reportedly has further delayed salaries. In a note to employees, the company said that it has further delayed the payment of salaries for the months of June and July. Earlier, the company had capped June salary payment at Rs 75,000 and promised to pay the arrears on July 20 (Thursday).What the internal note to…

After starting a distribution price war last year, Reliance Industries’ online wholesale format JioMart has reportedly laid off more than 1,000 employees. According to a report in Economic Times (E), the job cuts at the company come as it aligns operations with the recently-acquired Metro Cash and Carry.“The company has asked over 1,000 people on ground including 500 executives at its corporate office to resign over the past few days. It also plans to have another large round of layoffs with hundreds of employees already…

After starting a distribution price war last year, Reliance Industries’ online wholesale format JioMart has laid off more than 1,000 employees as it aligns its operations with the recently acquired Metro Cash and Carry.This is part of a larger cost-cutting measure over the next few weeks which will include reducing the 15,000 workforce in the wholesale division by two-thirds, three officials privy to the development told ET.“The company has asked over 1,000 people on ground including 500 executives at its corporate office…

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Image Source : RELIANCE AGM JioMart on WhatsApp Meta and Jio have launched an end-to-end shopping experience for Indian users, where they can shop from an e-commerce platform named 'JioMart' by using WhatsApp chat. The new experience will enable customers to browse the JioMart catalogue, add products to the cart and make purchases all within WhatsApp Mark Zuckerberg,…

Image Source : DUNZO Dunzo Reliance Retail-based Dunzos B2B logistics arm, Dunzo for Business (D4B), announced its strategic partnership with the government's Open Network for Digital Commerce (ONDC). The partnership will provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are…

Reliance Industries said on Wednesday US private equity firm Silver Lake Partners will invest $1.02 billion (roughly Rs. 7,489 crores) in its retail business, helping the Mukesh Ambani-controlled company widen its lead as India's biggest retailer.The move also sets the stage for a three-way battle between Asia's richest man, Jeff Bezos' Amazon and Walmart's Flipkart to rope in the Indian middle class customer, many of whom are newly adopting online purchases of food and groceries due to the COVID-19 pandemic.In May,…

India's Reliance has approached investors in its digital business about potentially buying stakes in its retail arm, two sources with direct knowledge of the matter said on Thursday.The oil-to-telecoms conglomerate is looking to attract more investors to Reliance Retail as the business expands rapidly online to take on the likes of Walmart's Flipkart and Amazon's Indian arm.Earlier this year, Reliance, controlled by Asia's richest man Mukesh Ambani, sold nearly 33 percent of its Jio Platforms digital business, netting…