Company looks to increase the use of the platform among offline merchants and retailers
Urban Ladder, which has started selling on marketplaces such as Amazon India and Flipkart, is also looking at offline strategy to expand its retail presence.
Paytm had launched air ticket booking in June 2016, followed by train reservations. The company had reported bookings of over 1-million tickets in September 2016.
“The net impact will set us back by 3-4 per cent on the selling price of the product,” said the manufacturer of an apparel brand sold on Snapdeal, declining to be identified.
The TCS clause mandates online marketplaces to deduct 2% per transaction and hand it over as collection towards GST to the government under the Act. This does not apply to retail sellers offline.
Paytm said its annualised GMV from travel vertical has crossed $500 m
The company has suspended the customer-to-customer courier service within months of its launch. It has also pulled the plug on hyperlocal delivery services being piloted across Bengaluru since March last year.
In February 2016, Snapdeal had put over 200 employees on a Performance Improvement Program and eventually let go of the additional staff.
Ananth Narayanan will continue to be the CEO of both Myntra and Jabong and Soni will be reporting to him in her new role.
According to one source familiar with the development, Kumar will lead the grocery business for the Bengaluru-based online retail major.
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