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.