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Time of India
14-07-2025
- Business
- Time of India
Amazon Prime Day boosts sales across categories, but smartphones lag
Academy Empower your mind, elevate your skills Ecommerce marketplace Amazon 's Prime Day flagship sale event, through which it offers discounts and promotions for its Prime members, saw three- to fourfold growth in sales for certain brands across electronics, beauty and personal care (BPC), home and decor, and fitness categories compared to last year's Amazon, Prime Day serves as an important mid-year sales boost ahead of the three-month-long festive shopping season from September to November. It also acts as a pulse indicator for these sales, helping brands and marketplaces estimate potential sales volumes during the festive season, which accounts for nearly half of the annual gross merchandise value (GMV) for online retailers The trends assume particular significance given the overall sluggishness in ecommerce and increasing customer preference for rapid Kolli, founder and chief executive of home and kitchen products brand Solara, said that on the first day, the company saw a five- to sixfold increase over business as usual and that it doubled sales from last year's Prime Day. 'With all the quick commerce, we weren't sure how it would perform, but it surprisingly did very well. Another surprising and good thing is that generally, when Amazon sales happen, our website traffic goes down. But this time, our website traffic is actually up compared to regular days. I think that reflects overall strong consumer demand this time around,' Kolli to a Bain & Company-Flipkart report, India's ecommerce sector is estimated to have grown by 10–12% in 2024, down from over 20% in previous years.A founder of a new-age footwear brand, however, said that discounts were similar to last year's Prime Day, adding that this period is often used by some brands to clear out inventory ahead of the upcoming festive season sales.'We've witnessed a fourfold growth in sales compared to the same period last year. The majority of the demand continues to come from metro cities. Given the performance so far, we're optimistic about the last day as well. We expect to sustain similar growth levels,' said Mohit Jain, founder and chief executive of fashion handbag and accessories brand analysts ET spoke with said that the first day of the three-day event (July 12–14) registered better sales than last year's first day.'Across categories, we're seeing almost a two- to threefold increase in both traffic and order volumes. It's mostly a discount- or deals-driven sale,' said Satish Meena, adviser at ecommerce consultancy Datum Intelligence. However, according to him, the smartphone category has underperformed relative to other segments. 'The smartphone segment has not been that great. It reflects the market itself, which is also down. There was a slight jump in this category, but not as significant as in others,' Meena month, Counterpoint Research revised its global smartphone shipment growth projection for 2025 to 1.9%, lower than its previous forecast of 4.2%, citing a tariffs-driven slowdown in global did not respond to month, Amazon India added five fulfilment centres to its network ahead of Prime Day, in cities like Indore, Bhubaneswar, Kochi, and to Anurag Kedia, cofounder of personal care brand Pilgrim, daily orders have surged by 150%, with strong traction significantly surpassing the brand's 2024 benchmarks. 'We're on track to deliver approximately 2X growth in Prime Day sales compared to last year. Prime Day marks the beginning of the festive sales season for the calendar year, and it has certainly started on a strong note,' he Mumbai-based brand expects a 25–30% spike on the last day, fueled by last-minute shopping and deeper visibility across channels. While metro cities continue to perform well, tier II and tier III cities now account for 50–55% of total orders, he Amazon has said that Prime Day in the US (July 8–11) was its biggest ever, achieving record sales and the highest number of items sold over a four-day period. However, discounts during the event were subdued as some brands and sellers chose not to participate after being impacted by tariffs imposed by former US President Donald Trump.
Time of India
30-06-2025
- Business
- Time of India
AM Green to buy 17.5% stake in Greenko from Orix for $1.28 billion
Orix Corporation will sell its 17.5% stake in Greenko Energy to AM Green for $1.28 billion, while investing $731 million in AM Green's convertible note for a 10% stake. This two-pronged transaction will increase Chalamalasetty and Kolli's ownership in Greenko to 28%, valuing the renewable utility at $7.5 billion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Japanese financial group Orix Corporation has agreed to sell its 17.5% equity stake in Greenko Energy Holdings for $1.28 billion to AM Green (AMG), an entity promoted by Greenko co-founders Anil Chalamalasetty and Mahesh ORIX has also agreed to invest about $731 million in a convertible note issued by AM Green's Luxembourg-based parent, giving them a 10% equity stake in the operating company. ORIX expects to complete both transactions by the end of July, it said in a statement two-pronged transaction, once concluded, will see Chalamalasetty and Kolli cumulatively own 28% of Greenko held via their personal capacity as well as AM Green, valuing the renewable utility at $7.5 billion. Singapore's GIC (58%) and Abu Dhabi Investment Authority (14%) are other key shareholders of Greenko. At March-end, Greenko operated renewable energy power generation facilities with a total installed capacity of 7.3 GW, including solar, wind, and hydroelectric power generation. In addition, Greenko has also completed a 1.7 GW pumped storage project in Andhra Green also has plans to produce 5 million tonnes per annum (MTPA) of green ammonia , with the first 1 MTPA project under construction at Kakinada in Andhra Pradesh, expected to be commissioned in 2026. The project, which includes a green hydrogen unit and ammonia conversion plant at a repurposed urea facility acquired earlier this year from Nagarjuna Group, will cost about ₹12,500 has also signed green ammonia supply term sheets with Uniper SE, an energy company, and Yara Clean Ammonia, a trader and distributor of ammonia. AMG also has a joint venture with John Cockerill to manufacture electrolyzers that are used for producing green ORIX, the renewable energy business is one of its key strategic growth areas. It is developing its power generation business in Japan and outside. ORIX said the sale of 17.5% of its 20% shareholding in Greenko is part of its "capital recycling strategy.""ORIX aims to invest in the next generation of the energy sector (including green molecule) by using part of these funds, an area expected to grow rapidly," the Japanese financial services company said. "This transaction is a key milestone in building one of the world's fully integrated and scalable green energy platforms," said Anil Chalamalasetty, Founder and CEO of AM Green. ORIX's stake acquisition strengthens AM Green's upstream integration through Greenko, AMG said in a these agreements were previously announced in January but terminated in April after the underlying conditions were not met. "However, after further consideration among related parties, we have decided to re-enter into this agreement," ORIX said.
