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Some <keyword id="1705292" type="UNKNOWN" weightage="100" keywordseo="Indian-e-commerce">Indian e-commerce</keyword> firms, like Urban Ladder, <keyword id="972687" type="COMPANY" weightage="100" keywordseo="Zivame">Zivame</keyword>, FabAlley and <keyword id="1153436" type="COMPANY" weightage="100" keywordseo="Yepme">Yepme</keyword>, are considering turning into <keyword id="1167067" type="UNKNOWN" weightage="100" keywordseo="single-brand-retailers">single-brand retailers</keyword> so that consumers can buy from their stores without foregoing their foreign investments. 
 
It was in November last year that the government had amended its single-brand retail policy to allow foreign-funded retailers to sell products through both brick-and-mortar and online stores. 
 "Now that full clarity has emerged in single-brand policy, we will certainly look at it," Yepme CEO <keyword id="2430540" type="UNKNOWN" weightage="100" keywordseo="Vivek-Gaur">Vivek Gaur</keyword> told <a href="http://economictimes.indiatimes.com/industry/services/retail/ecommerce-firms-like-urban-ladder-yepme-and-others-plan-to-turn-into-single-brand-retailers/articleshow/53936960.cms">ET</a>. "We don't need to do everything from ecommerce to brick-and-mortar stores ourselves but it gives flexibility to pick whatever we want to do," he added. 
 
As per the policy, India allows 100% FDI in e-commerce marketplaces, however, such marketplaces can’t stock or sell on their own. They can only lend their platforms for retailers to sell products. 
 
When these online retailers re-model their businesses into single-brand operation, they would be able to hold and sell their own inventory online, without breaking any of the FDI regulations. 
 
"Currently, we are funded by Indian angel investors. As and when we get foreign money, we will definitely apply for single-brand licence," said Shivani Poddar, cofounder of the Bengaluru-based fashion start-up FabAlley. 
 
As per industry experts, companies are right in leveraging on their brand equity by going mono brands. 
 
"It creates a differentiator, and, second, there are not large brands, so it is a fantastic opportunity for companies like Zivame to capture that space," said Nitin Chhabra, CEO at e-commerce consultancy firm Ace Turtle. 
 
However, not all online players are in for this option. Limeroad and Voonik, for example, said that they want to maintain their marketplace models, thus allowing other retailers to sell their products using these platforms. 
 
<a href="http://www.thehansindia.com/assets/3748_aa2bdfc3-23b1-4431-b822-9674c9ca3c70.jpg">Image source</a>

Indian e-commerce firms could turn into single-brand retailers

Gurgaon-based Fashion e-tailer <keyword id="1153436" type="COMPANY" weightage="100" keywordseo="Yepme">YepMe</keyword> has planned to open 400 stores by the end of this financial year, as a part of the omnichannel strategy that most e-tailers are following in order to boost sales. 
 As of now, YepMe has four stores in Gurgaon, and for its expansion plans, has identified cities including Noida, Meerut, Bengaluru, Hyderabad, Ludhiana and Latur, where it would expand through franchise, CEO <keyword id="2430540" type="UNKNOWN" weightage="100" keywordseo="Vivek-Gaur">Vivek Gaur</keyword> told <a href="http://economictimes.indiatimes.com/small-biz/startups/yepme-to-open-400-stores-by-the-end-of-this-financial-year/articleshow/53482739.cms">ET</a>. While metro cities would have company-owned stores, tier II towns will have franchisee-owned stores. 
 
A new initiative of the company, as a part of its offer of a seamless shopping experience, would be to run similar schemes and offers and allow "anywhere returns" of products, which means that products bought by customers anywhere across different cities could be returned to any store they like. 
 
Founded in 2011, YepMe raised $75 million in September 2015 from investors led by Malaysian state fund Khazanah Nasional Berhad and existing investor Helion Advisors. 
 
<a href="http://images.newsinshorts.com.edgesuite.net/app_assets/images/2016/1jan/17/36434223-0013-0001-6870-000012345678-1453036434431.jpg?resize=1024px:*&amp;">Image source</a>

YepMe aims to open 400 stores by March 2017

The <keyword id="6357808" type="General" weightage="20" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) has attached immovable and movable properties worth Rs 97.79 crore belonging to Ripu Sudan Kundra aka <keyword id="18641" type="General" weightage="20" keywordseo="raj-kundra" source="Orion">Raj Kundra</keyword>, businessman, and husband of Bollywood actor <keyword id="6358615" type="General" weightage="20" keywordseo="shilpa-shetty" source="Orion">Shilpa Shetty</keyword>, under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The attached properties include a residential flat in Juhu, which is in the name of Shilpa Shetty, another residential bungalow in Pune and equity shares in Raj Kundra's name. The financial probe agency had initiated an investigation based on multiple FIRs registered by Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and a number of MLM agents. It has been alleged that they had collected huge amounts of funds in the form of <keyword id="6395759" type="General" weightage="20" keywordseo="bitcoins" source="Orion">Bitcoins</keyword> (worth Rs 6,600 crore in 2017 itself) from the public with false promises of a 10 per cent per month return in the form of Bitcoins. The collected Bitcoins were supposed to be utilised for Bitcoin mining, and investors were to get huge returns in Crypto assets. "But the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets. The probe also revealed that Raj Kundra received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin Ponzi Scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine," ED said in a statement issued on Thursday. The said Bitcoins were sourced out of proceeds of crime collected by Amit Bhardwaj from gullible investors. "Since the deal didn't materialise, Kundra is still in possession and enjoyment of 285 Bitcoins which are presently valued at more than Rs. 150 Crore," said the ED official. During the investigation, multiple search operations were carried out in this case and three persons were arrested. "Simpy Bhardwaj was arrested on December 17, 2023, Nitin Gaur on December 29, 2023, and Nikhil Mahajan on January 16, 2023. All of them are presently in judicial custody as of date," said the official. However, the main accused Ajay Bhardwaj and Mahendra Bhardwaj are still absconding. Earlier, ED had attached properties worth Rs 69 crore. The Prosecution Complaint in this was filed on June 11, 2019, and the Supplementary Prosecution Complaint on February 14, 2024. "The Special PMLA court has taken cognizance of the same. Further investigation is under progress," the official added.

Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty

<ul><li><keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword>, one of India’s most successful VC firms, is back in a new avatar – <keyword id="10135370" type="UNKNOWN" weightage="20" keywordseo="Elevation-Capital">Elevation Capital</keyword>.</li><li>It also announced the closure of its seventh fund in India for $400 million.</li><li>SAIF Partners, when it was formed in 2001, stood for Softbank Asia Infrastructure Fund. </li></ul>SAIF Partners, one of India’s most successful VC firms, is back in a new avatar – Elevation Capital. The firm, which was founded in 2001, has backed several <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in India – seven of which have gone one to become unicorns. With a new fund of $400 million – its seventh fund in India, Elevation Capital joins the likes of Sequoia, Lightspeed Partners, Chiratae Ventures – all of whom have successfully closed their funds in the middle of the pandemic. Rationale behind the rebranding SAIF Partners, when it was formed, stood for Softbank Asia Infrastructure Fund. Even though SoftBank quit as an LP (Limited Partner) back in 2004, the firm had continued with the same branding. “We felt that the name SAIF, while well recognized, didn’t communicate what we stand for to our partners and founders. While the rebranding has been a thought over the years, and (with) a new fund raise in the offing, we thought that the time was prime to think about a new name that echoes our investment ethos better,” said Deepak Gaur, Managing Director. Some of its big investments so far <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MakeMyTrip </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Justdial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FirstCry </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NoBroker </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Urban Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharechat </td></tr></tbody></table> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Assets Under Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over $2 billion until Fund VII </td></tr></tbody></table> New brand, new fund, same investment thesis The new brand Elevation Capital, Gaur added, reflects their investment ethos and commitment to the founders who help redefine their future. Elevation Capital’s seventh fund will continue to work on the same investment philosophy, where the partners will invest in early-stage companies. “We will continue to focus on the Seed/Series A stage. As for the sectors, we will continue to invest across consumer internet (including e-commerce, edtech, gaming, content), consumer brands, global SaaS and financial services,” said Mayank Khanduja, Managing Director. Elevation Capital partners who will make the call for investments <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ravi Adusumalli </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepak Gaur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mayank Khanduja </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mridul Arora </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukul Arora </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivek Mathur </td></tr></tbody></table> While each partner has a target of two investments per year, the firm doesn’t have a set goal for the seventh fund. “We have a long-term orientated approach with our funds and portfolio companies and we are selective in the investments that we make, so that we can do justice to the relationship we have with the founders. We don’t have any target number of investments in a year,” said Khanduja. SEE ALSO: <a href="https://www.businessinsider.in/business/news/justdial-jd-mart-challenges-indiamart-oldest-ecommerce-after-24-years/articleshow/78781834.cms">India’s oldest e-commerce platform is bracing for its first direct challenge in 24 years as Justdial ups its game</a>

INTERVIEW: Here’s why one of India’s most successful VC firms rebranded itself in the middle of a pandemic

India’s online market place <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal </a>laid-off 600 employees recently and warned the co-founders employees for more tough decisions. Well, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is not along in <a href="http://www.businessinsider.in/searchresult.cms?query=layoffs&amp;sortorder=effectivedate">firing its employees</a> as more<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate"> Indian startups </a>are handing out pink slips to hundreds. 
 
The fear of being fired is looming large on employees as many startups have begun giving notices to workers to trim costs, save money and make profits. 
 Apart from Snapdeal, other <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> such as <a href="http://www.businessinsider.in/searchresult.cms?query=craftsvilla&amp;sortorder=effectivedate">Craftsvilla</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=yepme&amp;sortorder=effectivedate">YepMe</a>, Tolexo, etc have laid-off employees recently. 
 "(<keyword id="635221" type="UNKNOWN" weightage="20" keywordseo="Craftsvilla">Craftsvilla</keyword>) has laid off more than 100 staffers in recent weeks, including its entire product and technology teams and most of its operations and marketing teams,” a former senior executive of the company told ET. 
 
In fact, some senior employees aware of the coming troubles had put in their papers a couple of months ago, sources told ET. 
 
Industry experts say the lay-offs could be due to slowing funding, rash decisions by founders, etc. 
 "More (<keyword id="6357067" type="EVENT" weightage="20" keywordseo="layoffs">layoffs</keyword>) will happen throughout 2017. The cleanup has started and most consumer internet companies will go through this,” Harminder Sahni, managing director at consultancy Wazir Advisors, told ET. 
 "While we were preparing for the worst, we still had a little hope. But when it was clear the company was shutting, the main priority was to relocate the employees,” Ipe Walliaveetil, who was senior manager for operations at <keyword id="1112419" type="UNKNOWN" weightage="20" keywordseo="Stayzilla">Stayzilla</keyword>, told ET. 
 
Fashion retailer YepMe recently laid off an unspecified number of people from its warehousing and quality control teams. 
 
"We were planning to break-even in January. But demonetisation hit, (the option for cash payments on delivery) disappeared and sales were down. We decided to move our focus outside of India,” Vivek Gaur, founder of YepMe, which recently began operations in the United Kingdom, told ET.

Working for a startup? Your job is in danger

While <keyword id="150626" type="COMPANY" weightage="100" keywordseo="HM">H&amp;M</keyword> may be excited to dive into the Indian market and a number of marquee fashion brands may want to follow suit to cater to the fast growing brand conscious consumer market that's craving for more options, Indian online fashion retailer <keyword id="1143511" type="COMPANY" weightage="100" keywordseo="Yepme-com">Yepme.com</keyword> is busy trying to build a Zara-like brand of its own so that the new fashion hungry frats in India don't have to look up to the US and European companies for being in tune with the latest fashion trends. 
 
Four years into the business, work is on silently in almost every arena at Yepme - on introducing new range in clothing to foraying into new segment, and raising and pushing big money into brand building (the most crucial bit)! There's special focus on the brand side because that's what it is aiming for - "to become the best fashion brand in India in the next three years" - as Vivek Gaur, the co-founder and CEO of Yepme, tells us. 
 Precisely, why Yepme has not only extended contract with their superstar face <keyword id="6357753" type="PERSON" weightage="100" keywordseo="shahrukh-khan">Shahrukh Khan</keyword>, but it has also roped in south Indian heart-throb <keyword id="6370559" type="COMPANY" weightage="100" keywordseo="Tamanna">Tamanna</keyword>, who became well known in the north recently after she set the box office on fire with Bahubali. The duo will be seen vouching for Yepme's brand new ethnic line in a short film that will flash on your screens from November 1. The timing of launch of ethnic collection has been kept just when the festive season would kick in. 
 
"Apart from the ethnic collection, we are getting into three more distinct areas- premium party wear, active wear and inner wear. The plan is to bring party wear by end of this year (around December when the party spirits are high) and inner wear by Sept-Oct next year which is an altogether new segment for us," said Vivek, adding that the company is eyeing vertical growth and wants to go beyond just offering western casual wear to customers. 
 At the moment, Yepme is deriving 15-20 per cent benefits in the ongoing Big Billion Days and festive season sale on <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword> as a result of being positioned among famous brands like Benetton on the featured banners of e-commerce websites. It, however, aims to cash in more from its presence on these portals once its brand becomes salient. 
 
By virtue of being an online fashion retailer and not an e-commerce website per say, Yepme is not competing with the likes of Snapdeal. "Unlike them, we don't spend money on discounting and schemes. We want customers to come to us not for cheap pricing or discounts but for the brand," says Vivek. 
 
He explains:"On every product that I ship, I make 20-25 per cent margin. That pays for my fixed cost apart from covering the delivery and product cost. So all these costs are covered by way of selling. And all the money that I raise goes into advertising and building the brand. That's how I have a Shahrukh in my TV ads." 
 
With so much investment in building the brand, Vivek aspires to make Yepme global by shaping it as a million dollar brand by 2020. 
 
But there’s no hurry. The prime agenda is to first make India a profitable market for Yepme’s line of products. And that’s not a difficult task for an Indian company at this time. Rivals such as the likes of H&amp;M have to manufacture in India and Bangladesh and ship products back to their country. But for an in house newbie like Yepme wanting to become a fashion brand in the country, the game is sort of easy, or so it seems for now. 
 
With a huge textile base, large garment manufacturing base, technology as good as in the US, excellent resource from fashion institutes to create designs and IITians to analyse fashion trends and behavior- everything is under the same roof. 
 
"We are tapping it. Once your home becomes a big market, there is an aspiration value for your product across countries," says Vivek. 
 
In light of the above facts, why can't the next H&amp;M or Zara be from India!

You Searched For "Vivek Gaur" and got 6 results

Indian e-commerce firms could turn into single-brand retailers

BI India Bureau

YepMe aims to open 400 stores by March 2017

BI India Bureau

Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty

IANS

INTERVIEW: Here’s why one of India’s most successful VC firms rebranded itself in the middle of a pandemic

Sanchita Dash

Working for a startup? Your job is in danger

BI India Bureau

Exclusive: Yepme to soon launch a Zara-like brand in India!

Anushree Singh

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