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Accel eyes new India fashion e-commerce bet with Newme

Accel, an early investor in Indian e-commerce giants Flipkart and Myntra, is preparing a new fashion e-commerce bet in India even as competition Accel is in advanced talks to lead a $15-20 million funding round into Newme, an Indian fast-fashion e-commerce startup.

India , Ambani-ajio , Mukesh-ambani-ajio , Mukesh-ambani ,

Myntra and Ajio made a solid recovery in 2020, but the fresh Covid-19 surge may dampen their sales

Representational image.
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PTI
India’s two largest fashion e-commerce firms took a hit and made a solid recovery in 2020.
Walmart-owned Myntra and Mukesh Ambani’s Ajio saw a dip in reach when the nationwide lockdown started in March last year. Not only did people stay at home with no option to socialise or attend office, but there were supply constraints and deliveries slowed down.
However, the festive season in India delivered and both the players surpassed pre-Covid reach by the end of the year, data from market intelligence firm Kalagato show.
In a normal year, fashion sales are driven by travel, office wear, general social engagements, sporting activities, festivals and weddings. “The first three got completely wiped, sportswear just became athleisure, so brands were heavily relying on the festival and wedding market to give sales a boost,” Kalagato noted in its report. “This typically happens [in India] around September. And to some extent, that has stayed true.”

India , Mukesh-ambani-ajio , Mukesh-ambani , Usiness-and-economy , Ashione-commerce-firms , Yntra , Jio , Oronavirus-pandemic , Ockdown , Ovid-19-second-wave , Ashion-business

Ambani's Ajio and Walmart's Myntra made a solid recovery in 2020

Ambani's Ajio and Walmart's Myntra made a solid recovery in 2020
Quartz
2 hrs ago
© Provided by Quartz
A vendor arranges clothes at his roadside shop in Kochi
India’s two largest fashion e-commerce firms took a hit and made a solid recovery in 2020.
Walmart-owned Myntra and Mukesh Ambani’s Ajio saw a dip in reach when the nationwide lockdown started in March last year. Not only did people stay at home with no option to socialise or attend office, but there were supply constraints and deliveries slowed down.
However, the festive season in India delivered, and both the players surpassed pre-Covid reach by the end of the year, data from market intelligence firm Kalagato show.

India , Mukesh-ambani-ajio , Mukesh-ambani , இந்தியா , முகேஷ்-அம்பானி ,

Ambani's Ajio and Walmart's Myntra made a solid recovery in 2020 — Quartz India

April 14, 2021
India’s two largest fashion e-commerce firms took a hit and made a solid recovery in 2020.
Walmart-owned Myntra and Mukesh Ambani’s Ajio saw a dip in reach when the nationwide lockdown started in March last year. Not only did people stay at home with no option to socialise or attend office, but there were supply constraints and deliveries slowed down.
However, the festive season in India delivered, and both the players surpassed pre-Covid reach by the end of the year, data from market intelligence firm Kalagato show.
In a normal year, fashion sales are driven by travel, office wear, general social engagements, sporting activities, festivals, and weddings. “The first three got completely wiped, sportswear just became athleisure, so brands were heavily relying on the festival and wedding market to give sales a boost,” Kalagato noted in its report. “This typically happens (in India) around September. And to some extent, that’s stayed true.”

India , Mukesh-ambani-ajio , Mukesh-ambani , இந்தியா , முகேஷ்-அம்பானி ,