Tata Digital expands its ecommerce ambition by purchasing Cliq from UniStore

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Tata Digital, the Tata Group’s ecommerce and retail arm, has consolidated all of its ecommerce ventures by transferring ownership of Tata UniStore.

UniStore operates Tata Cliq, a fashion and luxury ecommerce platform that will now be part of Tata Digital. The Tata Group reportedly valued Tata UniStore at INR 750 Cr ($100 Mn) under ‘Project Tulip,’ offering preference shares to Tata Industries and Trent (joint owners of Tata UniStore) to acquire the UniStore business. The move comes after Tata Digital increased its authorised share capital from INR 15,000 Cr to INR 20,000 Cr in order to raise additional funds from Tata Sons. Tata Digital also announced financial results in which its consolidated net loss increased 5.6X to INR 3,052 Cr in FY22 from INR 536.7 Cr in FY21.

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Tata Digital expands its ecommerce ambition by purchasing Cliq from UniStore

, By Team SNFYI
Tech

Tata Digital, the Tata Group’s ecommerce and retail arm, has consolidated all of its ecommerce ventures by transferring ownership of Tata UniStore.

UniStore operates Tata Cliq, a fashion and luxury ecommerce platform that will now be part of Tata Digital. The Tata Group reportedly valued Tata UniStore at INR 750 Cr ($100 Mn) under ‘Project Tulip,’ offering preference shares to Tata Industries and Trent (joint owners of Tata UniStore) to acquire the UniStore business. The move comes after Tata Digital increased its authorised share capital from INR 15,000 Cr to INR 20,000 Cr in order to raise additional funds from Tata Sons. Tata Digital also announced financial results in which its consolidated net loss increased 5.6X to INR 3,052 Cr in FY22 from INR 536.7 Cr in FY21.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
Instacart cuts internal valuation to $10 billion
Next News
FTX customers filed class action to lay claim to dwindling assets
Team SNFYI

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