This is a rundown of last week’s news updates on eCommerce & Licensing:
Amazon’s largest seller to stop operations in India
Cloudtail India is a wholly owned subsidiary of Prione Business Services, which was in a joint venture with Amazon and Nagavara Ramarao Narayan Murthy’s Catamaran Ventures. The joint partners have decided not to renew their seven-year-old partnership with Cloudtail India, which ends on May 19, 2022. This decision comes at a time when the surveillance of the operations of foreign players in e-commerce marketplaces has increased.
Flipkart and IIM-Sambalpur partner to support MSMEs, entrepreneurs and artisans.
On National Handloom Day, 7th August 2021, ecommerce giant Flipkart announced its partnership with Indian Institute of Management, Sambalpur with a view to promote and support small businesses, artisans, weavers and entrepreneurs. Flipkart is going to lend its expertise and knowledge in e-commerce to help create an operational framework for small business owners. Flipkart aims at helping these small business communities to build and enhance their market reach and help create a sustainable environment for their growth by sharing operational know-how, market and consumer insights. The Memorandum of Understanding will soon be signed by both parties.
Amandeep Lohan shifts boats to Appario Retail.
Amandeep Lohan, previously the Category Leader of Amazon, has now been appointed as the managing director of Appario Retail for a period of five years effective from August 02, 2021. Appario Retail Private Limited is a wholly owned subsidiary of Frontizo Business Services Private Limited. Frontizo is a joint venture between Patni Group and Amazon Asia Pacific Resources Private Limited. Appario Retail Private Limited is a seller on www.amazon.in marketplace and is currently operating in the consumer electronics categories. This move comes in light of the announcement by Amazon and Catamaran’s decision to sever their ties with Cloudtail India.
Amazon to pay customers in case of defective goods
Amazon.com Inc stated that it would be willing to pay for any physical injuries or for any property damage that a customer may incur from defective goods sold on its U.S. platform. Amazon intends to bring in this policy to reduce any future litigation. However, Amazon still maintains that sellers are responsible for such damage.
RBI to issue new licensing regime for UCBs
An expert committee headed by former RBI deputy governor N.S. Vishwanathan will submit its report on a brand new licensing regime for urban co-operative banks (UCBs). RBI had stopped issuing such mandates for nearly 17 years. The committee is expected to identify key constraints and enablers in the fulfilment of socio-economic undertakings of UCBs. They shall also review the current regulatory and supervisory approach towards UCBs.
The expected reforms are:-
- Constitution of a board of management (BoM) for all UCBs with deposits over Rs. 100 crores.
- Framing of modalities for a national umbrella organization.
- Revamping of the National Cooperative Development Policy, 2002
Hershey shakes hands with BAC
The Hershey Company’s global licensing team signed their third deal for the year with Brand Activation Consulting (BAC). BAC is a global licensing agent founded by Michelle McLaughlin and Bob Traub in 2015. The two are set to release a new line of toys. “Fans of beloved brands from The Hershey Company now have even more ways to celebrate their favourite sweets with plush toys, puzzles and games with offerings from some of the most popular toy and recreational companies on the market,” said Michelle McLaughlin, CEO, BAC. Hershey plans to expand further in key strategic pillars with additional products and collaborations with the aim to increase their portfolio.
About the Author
Authored and compiled by Lavanya Anand (IP Associate, BananaIP Counsels)
This post is brought to you by the E-Commerce Law and Consulting/Strategy Divisions of BananaIP Counsels, a Top IP Firm in India. If you have any questions, or need any clarifications, please write to [email protected] with the subject: eCommerce News.
Kindly note that the news bulletin has been put together from different sources, primary and secondary, and BananaIP’s reporters may not have verified all the news published in the bulletin. You may write to [email protected] for corrections and take downs.