Three years after launching Big Bazaar Direct, Future group CEO Kishore Biyani's enthusiasm for online ventures has been tempered by growth concerns
Riding on this change in aspirations, V-Mart a value retail chain is growing close to 22 per cent year-on-year, and is aggressively looking to expand its footprint, with 60 new stores this year.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
The partnership will initially focus on the Future Group fashion brands.
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Dismisses speculation that he would launch a major e-commerce initiative soon.
Discount chain to expand to the east and west, continue with third-party brands.
Saks sells luxury brands such as Jimmy Choo, Giorgio Armani, and Tod's, besides premium brands such as Fila and Puma.
Footfalls will invariably come down to a trickle even after lockdown restrictions go away, and the only way to prevent someone else from poaching your consumer is to go down to the consumer herself. Consumers will prefer products and services to be delivered to their doorstep, hygienically and safely.
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
The near term will be challenging, as most will struggle to adapt to the new regime.
Amazon has shot off yet another letter to market regulator Sebi, accusing Future Retail of insider trading and called for an investigation as the US online retailer looks to ratchet up pressure against the Future-RIL deal. Future Group, however, vehemently denied the charges, saying these allegations were "Amazon's ill-motivated attempts to throw everything at the situation to stultify the transaction."
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Sales have picked up in the past few days for retailers in the apparel and consumer durables segments.
Some analysts believe convenience stores could be challenged by digital grocery in the future.
Local traders are evaluating other options rather in FDI.
E-commerce buyouts: Mahindra, Godrej to leverage on physical stores.
National brands prefer the acquisition route since the southern market is culturally different, reports T E Narasimhan from Chennai.
Recent data from market analytics firm Nielsen shows that the rural market in the country's 630,000-odd villages is pulling down the overall FMCG business.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
Bharti Retail will issue one equity share of Rs 2 each for every share of Rs 2 held in Future Retail
The company's search for a partner in India seems to be grounded once again
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
For the past few years, Avigo has been in talks with many strategic players, including private equity investors, to sell its stake in Spykar.
Future Group said customer acquisition costs, fulfilment costs and other expenses in e-commerce add up to 50 per cent of overall business costs, making it unviable
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
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Reliance, Birla Group, Airtel eye small finance banks.
Be it consumer products, lifestyle or entertainment, spiritual gurus are stepping into business and are finding success
While global competitors Amazon and Walmart are looking to explore B2B online in India, traditional Indian retailers like the Future group and Reliance Retail and e-commerce players such as Snapdeal and Flipkart have no immediate plans in this area.
Regulator seeks clarification on transfer of convertible debt after merger
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Consultants say those selling imported consumer durables, apparel, food products, furniture, etc, are the ones hit the hardest.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
Turbocharged with technology is becoming the Holy Grail of retail.
