Brands
Conscious Chemist partners with GoKwik
Mumbai: Innovative skincare brand Conscious Chemist has announced its strategic partnership with GoKwik, a leading e-commerce enabler, to optimise the shopper experience and reinforce the brand’s commitment to high-speed, continuous and sustainable growth.
Conscious Chemist, recognised for its commitment to using clean and sustainable ingredients, has achieved rapid growth after its feature on Shark Tank India, with revenue multiplying four times and website visitors seeing a jump of five times. Conscious Chemist will now focus on deepening its digital D2C footprint by leveraging GoKwik’s tech and data science capabilities to optimise checkout by creating a seamless login experience, prefilling addresses for the shoppers, extensive payment options, and multiple strategic discounts to accelerate revenue growth.
Within a short span of time, Conscious Chemist is already seeing a surge in order volume by 20 per cent and an uplift in GMV of 88 per cent post-partnership with GoKwik.
“GoKwik has continued to showcase prowess in helping D2C brands scale expansively with their solutions. We are witnessing a conversion uplift of 42 per cent already on our website post-integration with GoKwik. We are positive that this partnership will mark a significant chapter of the next phase of our growth journey.” said Conscious Chemist founder and CEO Robin Gupta.
One in three shoppers in India, shop on GoKwik’s network of 1500-plus brands every day, making it the deepest eCommerce shopper network in India. Leveraging this network data capabilities, GoKwik has created full-stack solutions to cater to every issue of eCommerce brands. The solutions have been instrumental in enhancing the ease of online purchases by bypassing login, prefilling addresses, and providing extensive discounts and rewards and best-in-class payment options. GoKwik also uses AI ML capabilities to reduce returns before delivery, owing to cash on delivery orders, a problem unique to the Indian peninsula.
“Conscious Chemist is a shining example of a brand that resonates with modern consumers who value sustainability, awareness and clean living. They have built a product that shoppers want, and we are now committed to ensuring these products reach shoppers in every part of India. We are delighted to support them in expanding their digital footprint and elevating their growth,” expressed GoKwik co-founder and CEO Chirag Taneja.
Conscious Chemist recently raised 1Cr in debt from Recur Club to expand its marketing, product research and digital footprint. Partnership with GoKwik is also a move towards enabling their future expansion plans.
GoKwik houses over 1500 brands eCommerce brands in its network including Lenskart, Neemans, Man Matters, Good Glamm Group, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space.
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
