Written By Sagar Malviya, ET Bureau MUMBAI: 7-Eleven, the world’s largest convenience store chain, is in advanced talks with India’s Future Group to enter one of the fastest-growing retail markets. If the plan goes ahead, the Kishore Biyani-owned retail company will open and operate small format 7-Eleven stores in India as a master franchisee, said two people aware of the development. A deal may be announced as early as March, they said. “While the stores will have products across categories, foods will have a greater focus,” one of the persons said. Seven & i Group, which owns 7-Eleven among other…
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Written By Deepti Govind P.C. Musthafa, CEO, iD Fresh Food India Pvt. Ltd. (Jithendra M/ Mint) BENGALURU : Azim Premji-funded iD Fresh Food India Pvt. Ltd has an ambitious plan. The company’s founder and chief executive, P.C. Musthafa, believes his newly-launched coffee decoction business has the potential to grow to ₹100 crore in a year. The company, which test-marketed the coffee decoction products in the last three months of 2018, expects the business to generate about ₹2.5 crore in revenue in February itself. “We’re getting good feedback. The products are getting sold out on almost the same day; the travel…
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Written By Aditi Shrivastava, ET Bureau Myntra and other ecommerce retailers like Amazon have been bringing on board new seller entities so as to not flout the regulations which prohibit online marketplaces from owning equity stakes in sellers. BENGALURU: Flipkart’s subsidiary Myntra, which drives a large part of its business through exclusive brand tie-ups and private labels, has clarified that it does not own any equity stake in sellers on its platform thereby complying with the new FDI norms. The move signals a significant restructuring at Myntra since the company continues to sell brands through third-party merchants instead of directly…
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Walmart paid a staggering $16 billion to take control of Flipkart, as it bet on the country’s growing consumption boom. Written By DEBABRATA DAS AND DEEPTI CHAUDHARY In the summer of 1993, less than a year after India’s economy opened up to the world, a little-known supermarket opened its doors at Archana shopping complex in a posh south Delhi neighbourhood. I was barely six at the time, but I still vividly remember the first time I walked through the doors of Nanz Supermarket. The store was larger than anything I had ever seen. Unlike dingy neighbourhood kirana stores, Nanz was…
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With its ‘Shopping on Instagram’ feature, the company will help customers buy products online. Apart from India, the company is expanding the feature to 26 countries from existing 46 countries. Written By Sandeep Soni Instagram even beat out TV in this younger target group, a medium only 3 percent of respondents said was a primary platform. Instagram is planning to compete against e-commerce biggies in India such as Amazon, and Flipkart even as Google too launched its shopping search feature last December. Facebook too had been testing the Indian e-commerce waters in the past. With its ‘Shopping on Instagram’ feature,…
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