Latest news with #Walmart-owned
Time of India
18 hours ago
- Business
- Time of India
Meesho gets shareholder nod to raise Rs 4,250 crore via IPO
Meesho, which completed its domicile shift from the US to India last week, will file its draft IPO prospectus under Sebi's confidential route, the documents show. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bengaluru-based ecommerce marketplace Meesho has received shareholder approval to launch its initial public offering (IPO), aiming to raise Rs 4,250 crore (about $500 million) in fresh capital, according to filings with the Registrar of approval came after an extraordinary general meeting of the which completed its domicile shift from the US to India last week, will file its draft IPO prospectus under Sebi's confidential route, the documents Meesho's shareholders have also approved the plan to designate founder Vidit Aatrey as the chairman, managing director and CEO of the company.'The proposed offering will include a fresh issue of equity shares aggregating up to Rs 4,250 crore and an offer for sale of equity shares by certain existing shareholders of the company,' the filing is the final step before the company makes its filings with the markets Elevation Capital, Peak XV Partners and Prosus are among the largest institutional shareholders in Meesho owning between 13-15% stake each. Japanese investor SoftBank owns close to 10% stake in the etailer focussed on value retailing at lower price investors in the company include the likes of WestBridge Capital and Fidelity. Meesho's last funding was a $550-million round, which was largely in secondary transactions, through which it was valued at around $3.9 billion – a slight discount to its peak valuation of $5 billion. This round saw new investors such as Tiger Global, Think Investments and Mars Growth Capital participating in addition to existing backers such as Peak XV Partners and WestBridge filings also showed that Meesho has expanded its 2024 employee stock option plan (Esop) by adding 1.1 million options, bringing the total pool to 7.5 million stock options.A presentation by its investor Prosus this week showed that in FY25, Meesho clocked over 1.8 billion orders, a 37% year-on-year growth from 1.3 billion orders in fiscal this IPO, Meesho could emerge as the first horizontal ecommerce company to list on the bourses in India. Its rival firm, Walmart-owned Flipkart , is also in the process of shifting its domicile from Singapore to India, ahead of a planned public issue next year.
USA Today
a day ago
- Business
- USA Today
Sam's Club is locking in prices for 1,000 items this summer. Here's what to know.
Prices on more than 1,000 summer favorites at Sam's Club will stay the same through mid-July, followed by promotional deals through mid-August, the Walmart-owned warehouse retailer recently announced. 'From grilling gear and coolers to pool floats and fresh-cut fruit trays — members can count on consistent value for the season's must-haves,' the company said about the deals while keeping open the possibility of tariff-related price increases on small kitchen appliances. Here's what to know about Sam's Club's plans for the rest of summer. Sam's Club wants to make sure customers don't 'stress over shifting prices or weekly budgeting' Walmart said in its announcement that the company understands Sam's Club customers want to make memories, spend time with loved ones, and have pool days. 'Members want to soak up every moment, not stress over shifting prices or weekly budgeting,' the company wrote in the announcement. Items that are part of the lock-in value program are labeled on the Sam's Club website, and the company will start its July Instant Savings Event on July 23, including household items like dish detergent pods, food, and school supplies. Sam's Club customers are 'very conscious' about what they're buying, exec says Todd Sears, Senior Vice President and Chief Financial Officer of Sam's Club, explained that customers are being 'very conscious and very choiceful about what they're purchasing' in an interview on June 11 When asked how Sam's Club is managing to keep prices low for customers while taking tariffs into account, Sears said this is something the company has done for a while. 'Most of our profit comes from membership income, in fact, 80% to 90%,' Sears said during the 2025 Evercore Consumer & Retail Conference earlier this month. 'We've always strived to keep prices low. And the way you do that is supply chain management, manufacturing out costs, looking at the best countries to source.' For example, on Mother's Day, Sam's Club kept the prices of flowers the same. Sears added that the 'best roses in the world' are imported from Ecuador and Colombia. Sam's Club and Walmart worked with growers in those countries and shifted packaging to the U.S. 'That allowed us enough flexibility to not raise prices,' Sears said. 'We're rewarded with by far our highest flower sales weekend we've ever had.' Members interested in July Instant Savings can visit Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Email her at sdmartin@
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Business Standard
2 days ago
- Business
- Business Standard
Flipkart bets on livestreaming and videos to win over online shoppers
Flipkart sees video commerce as a key strategy, with two-thirds of Gen Z using videos to shop. Usage is also surging in tier-II and III cities, where video-led formats are gaining rapid traction New Delhi Walmart-owned e-commerce major Flipkart is leaning heavily into social video and livestreaming to attract young shoppers who are glued to their smartphones. The move reflects a broader strategy of the company to seek long-term customer loyalty by making online shopping more immersive and interactive. Online shopping with live commerce Using videos to display and promote products has become one of the company's key new strategies, Neha Agrahari, a director at Flipkart told Bloomberg News. 'Users prefer to watch a video and make a decision' when shopping, she said. Agrahari believes video commerce is a natural progression, particularly with two-thirds of Gen Z consumers now favouring this style of shopping. Notably, 65 per cent of video and livestreaming interactions originate from India's tier-III and tier-III cities. What is live commerce? Live commerce merges real-time product purchasing with audience interaction via chat features or reaction buttons. In China, it has revolutionised the retail sector and emerged as a key sales channel. It now plays a central role in marketing campaigns for Singles' Day—a major shopping event in China—and is widely used as an effective digital strategy to enhance customer engagement and drive sales. Competing for e-commerce dominance Though video-based retailing is not new, Flipkart is banking on the format to outperform rivals such as Inc and Reliance Industries Ltd in the highly competitive Indian market. With around 650 million smartphone users in the country—and over 270 million of them shopping online—India has now overtaken the US as the world's second-largest e-retail market. Flipkart's own data shows that video-led engagement is surging. In the first half of 2025, over 200 million users interacted with videos while shopping on its platform, a significant increase from 75 million in the same period last year. Livestreams and influencers drive engagement Flipkart began integrating video content into its app approximately 18 months ago. These videos promote a wide range of products, from sunscreen to electronics. Livestreams also allow users to ask real-time questions and receive responses from influencers and product experts, enhancing the customer experience. This approach mirrors successful models in China and other parts of Asia, where video-driven commerce is widely used. Other Indian players, including Meesho, which is backed by SoftBank Group Corp, are also adopting similar strategies by hiring influencers to promote products ranging from cosmetics to health supplements. Building studios to boost sales Agrahari stated that video-led shopping is already boosting sales in categories like fashion, beauty, personal care, and home decor. The platform now plans to expand this format to electronics and fitness products. To support content creation, Flipkart is constructing physical studios in Gurugram, Mumbai, and Bengaluru. These studios are designed to offer a seamless shooting and editing experience for its video creators, she said. Growth in livestream engagement Engagement with daily livestreams has seen a dramatic increase — up 17 times compared to last year, according to Agrahari. This growth is partly fuelled by practical and engaging product demonstrations. For instance, users test T-shirts by dipping them in water to check for colour fastness or use various foods to assess kitchen appliances' performance.
Time of India
3 days ago
- Business
- Time of India
Walmart CEO Doug McMillon says, Walmart will announce the next goal for India once ...
FILE (Harlan Bozeman/The New York Times) Walmart Inc President and CEO Doug McMillon emphasized the company's desire for a level playing field and consistent policies in all countries where it operates, stating that Walmart is well-equipped to navigate the current tariff challenges better than any other retailer. "We operate in many countries, and we consistently ask for a level playing field everywhere," McMillon told the Economic Times when questioned about India. "We engage with various governments, sharing our views on changes needed to better serve customers, but we don't set the rules—we comply with them." Talking about the goal for India market, McMillion said, Walmart will announce the next goal for India once it reaches the target of annually sourcing goods worth $10 billion from the country by 2027. He went on to highlight Walmart's preference for local sourcing and job creation, noting, "We like to buy locally, create jobs, and benefit from shorter lead times, especially for food and consumables." Media reports suggest that the Trump administration is pushing India to grant full access to its $125 billion e-commerce market for companies like Amazon and Walmart as part of ongoing bilateral trade agreement (BTA) negotiations, expected to conclude by next month. McMillon clarified that Walmart is not directly involved in these government-to-government talks. In India, e-commerce giants like Amazon and Walmart-owned Flipkart are prohibited from holding inventory or selling directly to consumers, unlike local firms such as Reliance Retail and Tata Group. McMillon stressed the importance of clear and predictable regulations, saying, "The more things are transparent and consistent, the better it is for business, whether in India or globally." On the possibility of Flipkart holding inventory in India, McMillon noted, "We have expertise in inventory management and would be happy if the rules allowed it, but we leave rule-making to others." Addressing tariffs, McMillon said Walmart's sourcing capabilities give it an edge. "We've been managing tariffs since 2018, and our experienced merchants can adapt by making different sourcing choices," he said. "We prioritize buying locally to create jobs and reduce lead times, though this is easier for food than general merchandise." McMillon underscored Walmart's commitment to low prices, stating, "Keeping the cost of living low is our priority. Low prices are in our DNA, and we aim to maintain a price gap with competitors to deliver value to customers globally." Regarding India, McMillon expressed optimism about Walmart's sourcing goals, saying, "We're on track to source $10 billion annually from India by 2027, with an expanding range of categories. It's encouraging to see this progress." He added that Walmart will continue sourcing from both India and China and will announce new targets for India once the current goal is achieved. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 days ago
- Business
- Time of India
Walmart seeks fair play in global game, says CEO
Walmart Inc president and chief executive officer Doug McMillon said the US-based retail giant would like to have a level playing field and consistency in policy wherever it has a presence, adding that the current tariff turmoil is something that it can navigate better than any other company. 'We operate in a lot of countries and that is what we ask for everywhere (a level playing field), and that's consistent,' McMillon said, when asked about India. 'We engage with lots of different governments and, in those conversations, we share with them what we think should be changed to enable us to better serve customers. But we don't set the rules, and we will be compliant with the rules, whatever those are.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Prices for Villas in Dubai May Surprise You Dubai Villa | Search Ads Undo We like to buy locally, create jobs The Donald Trump administration intends to press India to give online retailers such as Amazon and Walmart full access to its $125 billion ecommerce market , the Financial Times reported in April. Live Events Both countries are in negotiations on a bilateral trade agreement (BTA) that they are trying to finalise by next month. McMillon, 58, said Walmart is not involved in trade talks as those are held between governments. India doesn't allow ecommerce firms such as Amazon and Walmart-owned Flipkart to hold stocks or sell directly to consumers. Locally owned companies such as the units of Reliance Retail and the Tata Group don't face such curbs. 'The more things can be clear and transparent, the better it is from a business point of view,' McMillon said. 'Businesses like consistency and predictability, whether it's in this country or around the world.' Asked how soon it would like to have a model that allows Flipkart to hold inventory in India, McMillon said the company wants to be able to serve customers as well as possible. 'We carry inventory in our businesses around the world. It's a challenge to do that well—we like doing it,' he said. 'It's one area that we have expertise in. And if the rules allowed it, we would be happy about that, but we will leave the choice of what the rules are to someone else.' Walmart will be able to manage the tariff situation, thanks to its sourcing capabilities, he added. 'There was a group of tariffs that were put in place back in 2018—we have been dealing with those,' McMillon said, referring to levies imposed by the previous Trump administration. 'Walmart can manage that situation better than anyone. We have a lot of creative and experienced merchants who can make different choices. Over the years, we have worked on where merchandise comes from. We like to buy locally. We like the benefits of creating jobs for customers by buying locally. We like the benefits of a shorter lead time. That's easier with food and consumables than it is with general merchandise.' Keeping a lid on the cost of living is a priority. 'We want to see low prices,' McMillon said. 'The purpose of our company is to help people save money and live better—low prices are in our DNA. We want to do everything we can, whether it's our own actions or the actions of others to try and create the best possible value for customers. We are bothered by that (tariff situation), I am just saying that we will manage it as well as anyone, and we'll make sure that we have a price gap relative to our competitors so that customers find value with us in every country where we operate.' Walmart will announce the next goal for India once it reaches the target of annually sourcing goods worth $10 billion from the country by 2027. 'It's encouraging to see what's happening here,' McMillon said. 'We are seeing the breadth of categories expand. When we initially set that goal, we had a smaller number of categories involved, but that's expanded.' The company will continue to source from India and China.
