Online news

21 May 2019
Online grocer now delivers to 26 cities in India. Targeting to double its revenue by 2020 Leading Indian online grocer Big Basket recently announced its aim to double turnover by FY20. At the launch of its latest operations centre in Kochi, its CEO Mr. Hari Menon, disclosed that sales revenue in 2019 was about US$460m and it is targeting to earn US$904m by the end of 2020. To support its...
16 May 2019
Alibaba Group announced financial results for the quarter ended 31 st March 2019. Strong performance with growing user base The group reported strong performance for the quarter. Daniel Zhang, Chief Executive Officer of Alibaba Group commented that “ Alibaba is becoming synonymous with everyday consumption in China, growing our base to 654 million annual active consumers and extending our ...
15 May 2019
Rakuten has published its results for the first quarter, with Group revenue up 15.9% to JPY280,294m (US$2.5bn) compared with the same period last year. Internet Services revenue up 13.8% Year-on-year revenue from Internet Services, Rakuten’s core business including ecommerce and travel booking services, increased 13.8% to JPY169,975m (US$1,5bn). Profit jumped 620.8% to JPY111,645m (US$1bn) ...
15 May 2019
Honestbee will stop delivering food from restaurants and temporarily suspend laundry service in Singapore from 20 May.  Strategic review to optimise business The retailer will continue to operate its grocery delivery service and cashless supermarket called habitat in Singapore. However, shoppers will not be able to order food and laundry delivery services from next week. The retailer announ...
09 May 2019
The Chinese ecommerce giant confirmed this week that it has closed its office in Australia less than 15 months after opening in February last year. A measure to mitigate losses JD.com’s Australian office in Melbourne, where Alibaba also has an office, was a step for the company to work closely with Australian suppliers and sell Australian goods, including food, wine, health supplements, vit...
03 May 2019
Honestbee CEO and cofounder Joel Sng has stepped down from his position, making way for Brian Koo who is part of the family that controls South Korea's LG. LG is one of the largest company in South Korea. It oversees US-headquartered investment fund Formation Group, a key investor and shareholder in honestbee. Fresh funding likely for the startup Mr Koo wrote in an e-mail to the company tha...
01 May 2019
 JD.com plans to invest CNY6.5bn (US$965.1m) in Thailand over the next three years to strengthen its fresh food business. Offering shoppers more choices In partnership with Yonghui, JD.com plans to import large quantities of durian, mangosteens, coconuts and other fruits from Thailand worth CNY5bn (US$742.4m). JD.com itself will also source an additional CNY1.5bn (US$222.7m) worth of fruits...
29 April 2019
Online grocery and food delivery service temporarily ceases operations in Hong Kong and Thailand. Intense competition forces retailer to rationalise operations Honestbee, the operator of habitat by honestbee, has suspended operations in Hong Kong, Thailand and Philippines. In a statement released by the retailer, it says that it is taking this action to “ simplify what we do and how we do i...
29 April 2019
Making use of the funds raised from most recent round of investments. Currently operating in 25 cities in the country Backed by Alibaba, India’s BigBasket has announced plans to scale up its supply and distribution chains. From its existing network of 18 large and 80 small distribution centres, the retailer will expand to 20 large and 100 smaller centres by June.   With the increase in d...
24 April 2019
AEON has partnered online grocery delivery company HappyFresh in Malaysia to provide shoppers greater convenience. Purchasing groceries on HappyFresh mobile app AEON Malaysia continues to step up its ecommerce initiatives. It previously announced partnership with Honestbee , and now is allowing customers to buy groceries via the HappyFresh mobile app. Users will be able to choose from appr...