The December 2012 issue of IMAGES Retail is e-commerce special. Many e-commerce players in India are growing in double digits month on month. Some have already reached turnovers of hundreds of crores of rupees in a very short span of time, leaving many traditional retailers scrambling to play catch-up by launching e-commerce portals of their own. However, there is a catch – most e-commerce players of India are today chasing top lines, not bottom lines. Transacting customers are the key to good valuations and many online retailers are burning cash at a frightening pace to attract buyers. This is clearly unsustainable. For long-term survival, the industry has to shift focus to creating sound fundamentals and profitability, as our cover story in this issue notes. Retail Excellence column covers leather accessories brand Da Milano which is witnessing a growth of 30 percent per annum. The Entrepreneur section presents the success story of Naresh Khatar of Me N Moms. The top 10 trends in e-commerce space and a report on the huge gap between the estimated potential and the current consumer participation in e-commerce in India are also highlighted. The issue also carries a profile of the Italian leather fashion brand Blue & Blues and a talk with Bharath Rao of Nesta Furniture.