Indian leading fashion retailer Shoppers Stop has completed the transfer of shares worth Rs 180 crore (approx $28.4 million) to Amazon Amazon.com NV Investment Holdings LLC, an investment arm of Amazon.com.
Myntra has said that it sold over 5 million items during its flagship event End of Reason Sale (EORS), held from December 22 to 25, thereby making Myntra’s 7th edition the biggest-ever in terms of sales.
Amazon India has claimed it outperformed Flipkart in the fashion segment for the October & November period, claiming it was the fasting growing marketplace in the country for 2017, according to a top company official.
Myntra is planning to further scale up its offerings in the personal care segment by adding more international brands to its portfolio and expects this segment to contribute 8% percent to overall revenues of the firm.
Indian e-commerce major Flipkart has spent around Rs 642 crore (approx $100 million) to buy back stocks from current and former employees under the company’s Employee Stock Ownership Plan (ESOP) programme.