Fast trade heavy hitter Getir was in advanced talks to buy rival Gorillasaccording to a Bloomberg report.
The proposed deal would be a combination of cash and equity.
The Bloomberg article noted that “the combination would give getirwhich is backed by Mubadala Investment Co. and Sequoia Capital, scales in key European markets, including the UK and Germany.”
“Gorillas, which last raised funds at a $3 billion valuation a year ago, have been exploring options after investors became more wary of the money-losing industry. Representatives for Getir and Gorillas declined to comment.”
Marks & Spencer CEO Stuart Machinis working on a plan to boost the retailer’s Ocado food delivery operation.
It is embarking on an overhaul to improve the service, with the aim of making the business more efficient and stimulating growth, according to a report by The Mail On Sunday.
Currently, 75% of the M&S grocery range is offered through Ocado. Plans are underway to increase that closer to 100% in the coming months.
A “whistleblower” told The Mail On Sunday that Machin aims to grow Ocado Retail over the next five years to achieve “a leading national market position in online food retailing and a brilliant showcase for the brand.” and the M&S range”.
It is pushing for 700,000 orders a week, up from 367,000 at the end of the last fiscal year in March.
Amazon is to begin offering Venmo as a new payment option for orders placed online and through its mobile app.
we sell, owned by PayPal, allows users to send money to each other. It has increasingly expanded beyond its peer-to-peer functionality, with more online players, such as Shopify and Lululemon, adding it to their offerings.
It will start rolling out to select Amazon customers this week and will be available to US customers on Black Friday.
Amazon it also continues its foray into physical fashion retailing.
The company has opened a second Amazon Style store, with the aim of combining the personalization of e-commerce with the immediacy of physical purchases.
It is located in Easton Town Center in Columbus, Ohio.
Amazon introduced the concept earlier this year in Americana at Brand in Glendale, California.
Chinese fast fashion giant SHEINannounced the launch of SHEIN Exchange, a peer-to-peer online resale destination.
The firm says that in recent years, through community-created Facebook groups and social platforms, its customers have communicated their interest in buying and selling previously owned SHEIN products without the high platform fees they typically must pay.
Available through SHE IN app, a pilot version of SHEIN Exchange is currently available in the US.
Flipkart launched a metaverse offering for consumers to more interactively discover and purchase new products on its app.
The Indian e-commerce giant backed by Walmart has partnered with eDAO, a Polygon incubator, to launch Flipverse.
This is in the pilot stage and will be available on Flipkart’s recently launched platform, FireDrops.
Brands such as Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya and Butterfly India will participate in the first edition.
Flipverse Phase One is an Android-only experience and will be active for one week.