Pack-Man presents to you three news headlines - KKR to invest Rs 2,069 crore in Reliance Retail; Apple to boost sales with iPhone 15; Flipkart’s Shopsy gears up for the festive
KKR to invest Rs 2,069 crore in Reliance Retail
A global investment firm Kohlberg Kravis Roberts (KKR) plans to invest Rs 2,069 crore in Reliance Retail Ventures’ stakes, raising to 1.42% from 1.17%. In 2020, the firm invested Rs 5,500 crore in the retail sector.
Pack-Man presents trivia about the brand. Reliance is one of the biggest retailers, which caters to 267 million customers, with an expanded network of 18,500 stores and eCommerce platforms.
Apple eyes sales with iPhone 15
According to IDC, its shipment fell down by 2% last quarter. This has dragged down its overall sales since 2019, and is expected to scale up by next fiscal’s first quarter according to a Bloomberg report.
However, Pack-Man negates this slump since the iPhone is Apple’s largest source of revenue, generating about half its sales. And, with the launch of iPhone 15, Apple will make a huge statement.
Flipkart’s Shopsy gears up for the festive
Flipkart’s Shopsy eyes over twice growth in this festive. The group offers quality items at low values. Pack-Man noticed that currently over half its collection is priced under Rs 200. The upcoming Grand Shopsy Mela will go live in September from 12 to 17. It will offer a wide range of products starting from Rs 9 only.
Kapil Thirani, head of Shopsy, Flipkart said, “In August, Rakshabandhan festival helped boost momentum for the upcoming festive sales. And, India as a country loves to spend during this time.”