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Tata Cliq struggles as losses rise after exit from key categories

Economic Times

Economic Times · 2y ago

Tata Cliq struggles as losses rise after exit from key categories

Tata CLiQ, the e-commerce platform, reports a 16% increase in net losses to Rs 875 crore. The company is facing financial challenges, with rising losses indicating operational difficulties. Despite being backed by the Tata Group, the e-commerce venture is struggling to achieve profitability, reflecting the competitive landscape and potential hurdles in the Indian e-commerce sector.

Related News

Tata Sons Stalls Fresh Investments Into Its Ecommerce, Electronics Ventures : Report

Inc42 · 1y ago

Tata Sons Stalls Fresh Investments Into Its Ecommerce, Electronics Ventures : Report

Tata Digital, the holding company for Tata Group's ecommerce businesses, has reportedly invested around INR 19,000 Cr so far. However, in FY23, the combined losses of Tata Digital's key businesses, including Croma, Tata Cliq, and BigBasket, increased to over INR 4,700 Cr from INR 3,130 Cr in FY22. In response, the newly appointed CEO, Naveen Tahiliani, has implemented measures to manage costs more effectively.

Nykaa sues former executive Asthana who now heads Tata Cliq

Economic Times

Economic Times · 11m ago

Nykaa sues former executive Asthana who now heads Tata Cliq

Nykaa, a beauty and fashion product retailer, has filed a lawsuit against its former chief business officer, Gopal Asthana, who now heads Tata Digital's fashion business, Tata Cliq. Nykaa accuses Asthana of breaching confidentiality, misappropriating proprietary data, and attempting to harm its business by recruiting Nykaa employees to join Tata Cliq. Nykaa is seeking a refund of employee stock option benefits and damages amounting to Rs 24 crore. The Bombay High Court has ordered Asthana to refrain from hiring Nykaa executives for Tata Cliq. Both Nykaa and Tata Cliq have not commented on the matter.

Tata Digital trims losses by 31% in FY25; Croma, 1MG biggest contributors to top-line

YourStory

YourStory · 1m ago

Tata Digital trims losses by 31% in FY25; Croma, 1MG biggest contributors to top-line

Tata Digital reduced its losses by 31% in FY25 to Rs 828 crore, with brands like Tata 1mg and Croma boosting revenues. Despite sluggish revenue growth, Croma emerged as the top revenue generator, while BigBasket faced challenges due to competition. Supermarket Grocery, BigBasket’s B2B arm, also saw a 7% revenue decline. Tata 1mg’s revenue increased by 36%, while Tata Cliq improved its turnover by 19%. Tata Sons invested an additional Rs 1,965 crore in Tata Digital.

Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Economic Times

Economic Times · 7d ago

Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Tata Digital plans to appoint an external CEO, its third since 2019, in a strategic overhaul to address scale-up challenges and streamline its consumer digital portfolio, including BigBasket and Tata Cliq. This follows the exit of former CEO Naveen Tahiliyani due to strategic disagreements. Tata Sons chairman N Chandrasekaran is temporarily overseeing operations, emphasizing operational discipline and profitability. The leadership reset aims to improve delivery efficiency and foster synergies among the company's various verticals.

Tata Digital explores operational integration

Economic Times

Economic Times · 1y ago

Tata Digital explores operational integration

Tata Digital is considering integrating the operational structures of its key assets, including BigBasket, 1mg, and Tata Cliq, to streamline operations and improve market responsiveness. BigBasket is also seeking funding of up to $100 million from parent company Tata Sons. Similarly, 1mg is expected to receive financial support. Tata Digital plans to consolidate its standalone apps under the Tata Neu app to increase consumer engagement and operational efficiency. The company aims to address slower-than-expected growth by appointing a new CEO, Naveen Tahilyani.

Tata Digital stitching ‘value fashion’ plan under its Cliq brand

Economic Times

Economic Times · 1y ago

Tata Digital, the ecommerce arm of the Tata Group, is looking to strengthen its value fashion offering on its platform Tata Cliq to compete with larger players like Flipkart, Amazon India, and Reliance Ajio. While Tata Cliq has a mass-affluent positioning, it is in talks with various brands to enhance its value-for-money offerings. The company is considering partnerships with global and Indian brands to match the breadth of offerings from its competitors. Tata Group's value fashion chain, Zudio, will not be onboarded on Tata Digital's super app Neu at present.

Tatas to enter red-hot quick commerce space with ‘Neu Flash’

Economic Times

Economic Times · 10m ago

Tatas to enter red-hot quick commerce space with ‘Neu Flash’

Tata Group's ecommerce venture Neu is set to enter the quick commerce segment with Neu Flash, offering ultra-fast delivery for grocery, electronics, and fashion products. This move comes as consumer demand continues to rise in metro areas. Neu Flash will be powered by partners like BigBasket for groceries, Croma for electronics, and Tata Cliq for fashion and lifestyle products. Quick commerce is disrupting the retail industry, with players like Zomato-owned Blinkit, Swiggy Instamart, and Zepto leading the market. Tata Digital aims to tap into the online shopping trend while being cautious about heavy spending on consumer incentives.

Zepto VP Jitendra Bagga Exits In Less Than A Year

Inc42 · 8m ago

Zepto VP Jitendra Bagga Exits In Less Than A Year

Jitendra Bagga has resigned as Vice President of Central Operations at Zepto after just nine months. His departure comes amid the company's aggressive expansion, which has seen its dark store count rise from 300 to over 750. Bagga, who oversaw key warehousing projects, left during a critical transition as Zepto relocates its headquarters from Mumbai to Bengaluru. This exit follows that of the Chief Human Resource Officer, highlighting ongoing leadership changes as Zepto prepares for a public market debut in 2025.

ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm

Economic Times

Economic Times · 3m ago

ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm

Naveen Tahilyani has resigned as Tata Digital CEO after just a year, highlighting the Tata group's leadership challenges in their digital sector. Under his brief tenure, the company aimed to revamp its digital strategy, focusing on Tata-owned brands and coherence among its portfolio, including Croma and BigBasket. Tahilyani, who had succeeded Pratik Pal, is expected to assume an overseas role within the Tata group. His departure adds to Tata's ongoing digital transformation struggles.

Myntra secures $54 million fund infusion from parent Flipkart

Economic Times

Economic Times · 1y ago

Myntra secures $54 million fund infusion from parent Flipkart

Flipkart-owned online fashion platform Myntra has received a $54 million investment from Flipkart, its second investment in a year. Myntra has been facing stiff competition from rivals such as Ajio and Tata Cliq. The company has been focusing on expanding its portfolio of international brands, with premium offerings showing strong growth. However, a research note by Bernstein revealed that while Myntra has a 55% market share in the fashion e-commerce segment, users on its app are not transacting as much as before. Flipkart's investment in Myntra comes after parent company Walmart committed $600 million to Flipkart.

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