Written By Shivani Shinde & Samreen Ahmed The deal is the biggest in online groceries space so far, values BigBasket at Rs 13,500 cr; will give exit to investors Alibaba, Abraaj and IFC The total size of the e-grocery market in the country is expected to grow from $1.9 billion in 2019 to $3 billion by the end of 2020 The Tata Group is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket, for about Rs 9,300-9,500 crore, said a source close to the…
Written By MG Arun From having to sell his business to facing legal challenges on his deal with Reliance and a one-year ban from the capital markets, retail icon Kishore Biyani finds himself indistinctly inglorious circumstances. Kishore Biyani By MG Arun: Kishore Biyani, 59, CEO of the Future Group, whose name became a byword for corporate innovation, is also a close observer of human psychology, a street-smart entrepreneur who often ignored PowerPoint presentations and instead backed his business instincts. Often called the pioneer of organised retail in India, Biyani consistently bet on the Indian consumer’s penchant for physical shopping before…
Written By MONEYCONTROL NEWS The biggest winner in terms of sales was BigBasket, which accounted for 50 percent of the sales growth followed by DMart, Grofers, Spencer’s Retail and StarQuick (Tata) Representative Image (Reuters) Online grocery sales for the largest online and offline retailers grew by a combined 65 percent to Rs 6,820 crore in FY20, while collective losses measured Rs 1,175 crore. The biggest winner in terms of sales was BigBasket, which accounted for 50 percent of the sales growth, followed by DMart, Grofers, Spencer’s Retail and StarQuick (Tata), a report by The Economic Times said. Moneycontrol could not…
Written By Amaan Khanna The news of Jeff Bezos stepping down as the CEO of Amazon.com, Inc. (NASDAQ: AMZN) sent shockwaves across the entire business community. It is being gauged that the move will surely result in ripple effects affecting various global destinations where the e-commerce behemoth operates. So, what’s in store for India post the change? Well, according to industry experts not much, as Amazon had long identified India as a strategic market to expand way back in 2013. Devangshu Dutta, Chief Executive at Third Eyesight, a consulting firm said that the switch in position will not really have…
Written By Aishwarya Ramesh In the light of Aditya Birla Fashion and Retail acquiring designer brand Sabyasachi, we explore the tenets of building a luxury versus a mass market brand. Aditya Birla Fashion and Retail (ABFRL) has announced a strategic partnership with Sabyasachi by signing a definitive agreement for acquiring 51 per cent stake in the latter. Sabyasachi is India’s largest and most influential luxury designer brand, with strong Indian roots and global appeal. The brand straddles categories such as apparel, accessories and jewellery, and has a strong franchise in India, US, UK and the Middle East. The ABFRL platform…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
