THE ‘E-COM’ KINGS!
E-commerce seems to have become the biggest retail story in India in the past few years. The e-commerce business in India is expected to be worth over $70 billion by 2020. And the ones who took the plunge early are reaping heavy rewards already. The men who lead these profitable ventures are the new kings of Indian retail.
Latif Nathani, MD, eBay India,
Praveen Sinha, co-founder & MD, Jabong,
Kunal Bahl, CEO, Snapdeal,
Amit Agarwal, vice president, Amazon India,
Sachin Bansal, CEO, Flipkart and
Ashutosh Lawania, co-founder, Myntra,
are the new gurus of Indian retail. A few years back, one would have never imagined that sales in these e-commerce ventures would boom like they have done lately.
Some of the facts and figures surrounding the sales and acquisition figures of these ventures is astounding. EBay recently pumped around $134 million into Jasper Infotech Pvt Ltd, which owns Snapdeal as their strategy to take on Amazon in India.
Rohit Bansal started Snapdeal in 2012 with just five sellers and today has over 50,000 sellers. At Amazon, they launched Junglee.com in 2012, which enabled retailers to advertise their products to millions of Indians free of cost. Their programmes-Sell on Amazon & Fulfillment by Amazon, were used by over two million sellers to sell to over 200 million customers.
Flipkart was launched with an investment of just Rs4 lakhs and later got four rounds of venture capital funding before it acquired Myntra for around $330 million. Today, Flipkart directly employs over 10,000 people selling to over millions of Indian customers and is all set to invest in technology.
Jabong’s is another success story to emulate their warehouse in Haryana stocks over 20 lakh products and has over 1,000 trendy international high street, Indian ethnic and designer brands with over a lakh styles.
Myntra has always been more focussed on fashion apparel. It tied up with the Fashion Design Council of India last season to become the online fashion partner for the India Fashion Week and also launched the Indian by Manish Arora collection in 2013. With over 600 fashion brands in their kitty and over 50 million online clients a month, their turnover has been record breaking.
And all these success stories have one thing in common - the brains behind the business. These new age retail heads are not just passionate about what they do, they have also got their business mantra in the right place. In the coming years, they are sure to rule the retail sector in a growing economy, where fashion and lifestyle are estimated to become multibillion dollar industries.
E-commerce seems to have become the biggest retail story in India in the past few years. The e-commerce business in India is expected to be worth over $70 billion by 2020. And the ones who took the plunge early are reaping heavy rewards already. The men who lead these profitable ventures are the new kings of Indian retail.
Latif Nathani, MD, eBay India,
Praveen Sinha, co-founder & MD, Jabong,
Kunal Bahl, CEO, Snapdeal,
Amit Agarwal, vice president, Amazon India,
Sachin Bansal, CEO, Flipkart and
Ashutosh Lawania, co-founder, Myntra,
are the new gurus of Indian retail. A few years back, one would have never imagined that sales in these e-commerce ventures would boom like they have done lately.
Some of the facts and figures surrounding the sales and acquisition figures of these ventures is astounding. EBay recently pumped around $134 million into Jasper Infotech Pvt Ltd, which owns Snapdeal as their strategy to take on Amazon in India.
Rohit Bansal started Snapdeal in 2012 with just five sellers and today has over 50,000 sellers. At Amazon, they launched Junglee.com in 2012, which enabled retailers to advertise their products to millions of Indians free of cost. Their programmes-Sell on Amazon & Fulfillment by Amazon, were used by over two million sellers to sell to over 200 million customers.
Flipkart was launched with an investment of just Rs4 lakhs and later got four rounds of venture capital funding before it acquired Myntra for around $330 million. Today, Flipkart directly employs over 10,000 people selling to over millions of Indian customers and is all set to invest in technology.
Jabong’s is another success story to emulate their warehouse in Haryana stocks over 20 lakh products and has over 1,000 trendy international high street, Indian ethnic and designer brands with over a lakh styles.
Myntra has always been more focussed on fashion apparel. It tied up with the Fashion Design Council of India last season to become the online fashion partner for the India Fashion Week and also launched the Indian by Manish Arora collection in 2013. With over 600 fashion brands in their kitty and over 50 million online clients a month, their turnover has been record breaking.
And all these success stories have one thing in common - the brains behind the business. These new age retail heads are not just passionate about what they do, they have also got their business mantra in the right place. In the coming years, they are sure to rule the retail sector in a growing economy, where fashion and lifestyle are estimated to become multibillion dollar industries.
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