Coupang doesn’t plan to enter the Indian market, the company said, refuting a local media report that claimed that the South Korean e-commerce firm had expressed interest in entering the South Asian nation. “Coupang has no plans to enter the ...
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The Shein-Reliance India alliance could offer inspiration for Chinese startups
BrightShein is partnering with Reliance to re-enter India, a strategy which, if proven viable, could set an example for startups grappling with the China backlash amid rising geopolitical tensions. The China-founded, Singapore-headquartered fast fashion giant is teaming up with Reliance ...
Reliance JioMart to cut 11,000 jobs, report says
BrightJioMart, Reliance Retail’s online shopping platform, has laid off over 1,000 employees and plans to cut as many as 9,900 more roles over the coming weeks, according to a report, as the Indian retail giant looks to improve its margins. ...
Disney’s Hotstar loses 8.4 million subscribers as Ambani’s JioCinema ascends
BrightDisney, the global entertainment conglomerate operating a variety of streaming platforms, suffered a 2% contraction in its total subscriber base for the quarter ending March this year. The decline is largely attributed to one specific streaming service: Hotstar. The Disney+ ...
James Murdoch’s fund slashes investment in Reliance-backed Viacom18
BrightJames Murdoch’s venture fund Bodhi Tree slashed its planned investment into Viacom18 to $528 million, down 70% from the committed $1.78 billion, the two said late Thursday as the global weakening economy hammers investors’ appetite. Viacom18, a joint venture between ...
India’s central bank abandons UPI rival project
BrightIndia’s central bank has halted its plans for a high-profile project intended to rival the nation’s dominant payment system, Unified Payments Interface. The project had attracted significant interest from a variety of major conglomerates, tech giants, and financial institutions, including ...
Ambani bats for cricket glory as Disney scales back in India
BrightMukesh Ambani’s Jio, the South Asian telecom powerhouse, has long sought to entice its customer base with a plethora of services aimed at boosting subscriber retention. Despite amassing over 425 million customers and claiming the mantle of India’s top network ...