The Supreme Court of India validated the judgment by Singapore Arbitrator-that had stalled the deal between Future and Reliance group, after the two-judge bench finds merit in Amazon’s objection applicable in India. Amazon had accused Future of violating its pre-existing contracts, while the latter has denied any transgressions. Shares of Reliance and Future dipped by 1.3% and 6% respectively. This tussle could reshape India’s trillion-dollar retail market.
Alphabet and Google CEO Sundar Pichai, in a Tweet, announced that Google has opened its first-ever brick-and-mortar store in New York’s Chelsea where customers will be able to browse and buy hardware and software products made by Google. The product line will include Pixel phones, Stadia, WearOS to Nest and Fitbit devices, Fitbit devices to Pixelbooks. The store also has a gaming area.
Amazon has acquired Perpule, a four-year-old Indian startup helping offline stores to go online. The e-comm firm paid $14.7 mn to acquire the startup in an all-cash deal. Amazon will spend an additional around $5 mn to compensate the employees of Perpule. The startup, which had raised $6.36 mn, provides a mobile payments device to offline retailers for accepting digital payments and help them to have a presence on various mini-app stores — Paytm, PhonePe and Google Pay.
Cloud computing is a vital cog in every firm’s digital transformation journey. Narsimha Rao, Head of Cloud & Infrastructure Solutions, Infosys said that the benefits of the cloud migration can range from cost, agility, expansion, building, launching new products and solutions. Cloud has enabled the retail sector to move or introduce an e-com omnichannel model. Cloud-based systems helped BFSI to pivot to WFH and quickly upgrade customer-facing software.
Microsoft has introduced the private preview of “Cloud for Retail” which aims to connect experiences across the end-to-end shopper journey with integrated and intelligent capabilities. The retail-specific cloud service will centre around driving accelerated time to value by unlocking the power of various Microsoft Platforms. Microsoft aims to give the retailer the flexibility to adopt the capabilities they need to address their most pressing business needs.
TCS said that it will be building the tech infrastructure for US and Canada-based women’s fashion retail chain ‘maurices’. The partnership value wasn’t disclosed. TCS, as its digital transformation partner, will build its greenfield IT ecosystem, optimize its 200 existing apps and software within next 17 months. The tech service provider will also help maurices build a brand-new data analytics platform and an upgraded e-comm platform.