Written By Samreen Ahmad Deal done through subsidiary Tata Digital Ltd; green signal from CCI came last month According to a report by RedSeer and BigBasket, India’s e-grocery market is expected to grow from $1.9 billion in 2019 to $3 billion by the end of 2020 After Tata Sons announced the acquisition of BigBasket on Friday, the e-grocery player’s co-founder and Chief Executive (CEO), Hari Menon, said it is going to be business as usual at the company. “Everything is going to be the same and all the founders will continue to be in the company,” Menon said. Cementing its…
Debojyoti Ghosh, Fortune India April 21, 2021 Billionaire entrepreneur Kumar Mangalam Birla-led retailer Aditya Birla Fashion and Retail Limited (ABFRL) has continued its build-up in the ethnic wear market with its fourth deal since 2019 and second this year. In February, the Mumbai-based fashion retailer picked up a 33.5% stake in fashion designer Tarun Tahiliani’s Goodview Properties—that will own and operate the designer’s eponymous couture label—for ₹67 crore. That was a month after ABFRL acquired a 51% stake in Kolkata-based designer Sabyasachi Mukherjee’s company, Sabyasachi Couture, which sells garments, accessories, and fine jewellery, for ₹398 crore. ABFRL, which owns fashion brands…
Written By zenger.news CHENNAI, India — American tech mogul Jeff Bezos, who owns Amazon, had one billionaire to fight in the Indian e-commerce space — Mukesh Ambani, who owns Reliance Industries. Now, another — Gautam Adani, who owns the Adani Group — has put a leg into India’s highly competitive e-commerce market, which is expected to grow to $200 billion by 2026. Walmart-owned, and one of India’s largest e-commerce firms, Flipkart has inked a deal with multinational conglomerate Adani Group to build one of its largest fulfillment centers in the financial capital Mumbai. The fulfillment center, a distribution facility where…
Written By RANJITA GANESAN Aditya Birla Fashion and Retail Ltd (ABFRL) has bought significant stakes in luxury couture businesses of fashion designers Sabyasachi and Tarun Tahiliani. What is the business rationale? Read on The opportunity in Indian wear, or ethnic wear as it is often called, has come to the attention of corporate and private equity investors over the last few years. (Image: Unsplash.com) To up for an occasion, women can get away with a beautiful saree, kajal, and flowers, said Tarun Tahiliani. Most men, in his view, have to choose from contrasting options such as western shirts or 'maharaja'…
Written By DEBOJYOTI GHOSH After acquiring 51% in Sabyasachi Mukherjee’s fashion house, Kumar Mangalam Birla-led ABFRL has picked up a 33.5% stake in Tarun Tahiliani’s couture label. Tarun Tahiliani, founder and CEO, Tarun Tahiliani Brand Billionaire Kumar Mangalam Birla-led fashion retailer Aditya Birla Fashion and Retail Limited (ABFRL) has announced its second deal with an Indian designer brand in less than a month. The Mumbai-based retailer on Wednesday said that it has acquired a 33.5% stake in fashion designer Tarun Tahiliani’s Goodview Properties Private Ltd (GPPL)— that will own and operate the designer’s eponymous couture label—for ₹67 crore. The deal…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
