Flipkart Introduces an Immersive AR E-commerce Experience with Flipkart Camera
Flipkart Introduces an Immersive AR E-commerce Experience with Flipkart Camera

Flipkart, India’s homegrown e-commerce marketplace, has introduced an immersive e-commerce experience with Flipkart Camera, an  Augmented Reality capability on the Flipkart App. This new offering will enable shoppers to leap from ‘imagining’ to ‘experiencing’ what a product will look like in reality before making a purchase.

With e-commerce today becoming a part of our lives, there is a need and an opportunity to bring real-life purchasing experiences to customers using technologies such as augmented reality. Flipkart Camera aims to make the online experience more engaging and beneficial for customers and help them make informed decisions.

In categories such as furniture, luggage, and large appliances, where customers need to estimate the size and fit of the product and understand its aesthetics before making a purchase decision, customers can have a visual, 3D experience of products using Flipkart Camera.

Another important category where this capability will build customer confidence and remove guesswork is the beauty category, with customers getting a chance to try products virtually before making a decision. With customers increasingly shopping on the go and from the comfort of their homes, this new experience will enable customers to purchase the right product without having to step out given COVID-19 restrictions.

Jeyandran Venugopal, Chief Product and Technology Officer at Flipkart, said, “At Flipkart, we are constantly working towards making e-commerce an inclusive and immersive experience for customers. With the Flipkart Camera feature, we aim to make this experience a notch higher by offering in-house demonstrations of products from the comfort of a consumer’s living room, thereby helping them make an informed decision before purchasing. This technology has far-reaching applications and can improve customer experience manifold while also helping customers find the right product fit.”

 
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Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
Retail India News: Convergent Finance and Samara Capital to Acquire Majority Stake in Agro Tech Foods Limited
 

Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.

Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.

Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.

Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.

Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.

Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.

 

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