20 start-ups that beat decades old companies in valuations.
The country's biggest retailer is splicing and selling businesses as it strives to reduce its mountain of debts. In the long run, his operations need to generate cash flows.
Coming close to Future Retail, after 42 per cent revenue growth.
In a break from the recent trend, retailers, led by Kishore Biyani's Pantaloon Retail (India) Ltd, Raheja-owned Shoppers Stop Ltd and the Lalbhai Group's Arvind Ltd, are experiencing strong growth in the fashion segment, thanks to positive consumer sentiments during the current festive season.
To operate large wholesale markets and imports.
Many private equity funds and retailers, who have long-term vision, will come to India, says Biyani.
The big question, however, is if it can sustain its business model as it grows and expands.
The big question, however, is if it can sustain its business model as it grows and expands.
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it's more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Brand Factory clocked in Rs 1,045 crores worth of sales in FY17, accounting for 27 per cent of the total revenues earned by Future Lifestyle Fashions Retail. But what about the future?
Azim Premji's Rs 175-crore (Rs 1.75-billion) investment in Future Retail will help Kishore Biyani tide through crisis.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
And, Future Group chairman Kishore Biyani, who has copyright on the famous ad tagline, admits even steep discounts didn't help much in many regions this year.
Aditya Birla Nuvo to buy controlling stake in Pantaloons Stores; Biyani gets Rs 1,600-cr boost; deal to create the country's largest fashion retailer.
The Supreme Court on Wednesday took note of the consent of US e-commerce major Amazon and Future group and ordered the resumption of arbitral proceedings before the SIAC tribunal over Future Retail's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd.
Industry estimates R-Day sales are eight times the usual for big retailers.
Kishore Biyani's Future Group will hive off its electronics business into a separate company, as continued promotions and increased competition are taking a toll on its margins.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
Biyani's comments come on the heels of the Committee of Secretaries' recommendations for opening up the multi-brand retail sector to foreign investment, with a cap of 51 per cent and a minimum investment of $100 million by overseas players.
The Delhi high court on Thursday upheld the Singapore Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.
S Rajarathinam is the founder-owner of this retailing giant. We asked him about his opinion on the government's decision to allow 51 per cent foreign direct investment in India's multi-brand retail trade and 100 per cent FDI in single-brand retail trade.
The downsizing is a direct fall-out of the slowdown in the business and the promoter's plan to sell stake in the life insurance business.
Other fashion formats such as 'Central' mall chain, 'Brand Factory' and 'Fashion at Big Bazaar' remain under Future Group and eye expansion
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
The Kishore Biyani-led group is scaling up operations with Foodhall, its latest venture in the food retail space, which would offer a different format to cater to the growing aspirations of consumers.
When Kishore Biyani- led Future Group opened the 200,000 square feet Home Town store in Mumbai's Vikhroli early last year, it became a symbol of the group's giant-sized ambitions in home solutions.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Ventures in areas such as insurance, financial services and logistics valued at Rs 4,500-5,000 crore ; company in talks with PE giants KKR and JP Morgan.
He was at the wedding reception of Vivek Biyani, nephew of entrepreneur Kishore Biyani.
Besides Ezone, Future Group operates other retail formats like Pantaloons, Big Bazaar and Brand Factory.
Raghu Pillai, former director and CEO (operations, strategy and business development) of Reliance Retail, today took over as the chief executive of Kishore Biyani's Future Value Retail. An industry veteran, Pillai talks about his new role with Business Standard.
In an email interview, the Mumbai-based Devdutt Pattanaik spoke to redidff.com about his latest book on the Mahabharata and about what lessons the epic holds for today's times
Kishore Biyani's Future Group has seen a turnaround in home retailing after months of decline, on the back of improved consumer sentiments and focused merchandising plans, a key group executive said.
The shareholders have approved sale of the firm's fashion division, including the entire investment in Home Solutions (Retail) India, to its wholly-owned subsidiary, Future Value Retail and sale of its retail division to subsidiary Future Speciality Retail, Pantaloon said in a filing to the Bombay Stock Exchange.
US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect. In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal.
Future Consumer Enterprise Ltd, the food and FMCG arm of Kishore Biyani-led Future Group, on Friday acquired south India-based convenience store chain Nilgiris for nearly Rs 300 crore (Rs 3 billion).
The Raheja-owned Shoppers Stop, which was so far an up market department chain, is becoming a full service retailer soon. It is increasing its stake in the promoter group's hypermarket chain Hypercity from 19 per cent to 51 per cent.
Payback India has 10 million members now.
Kolkata, which has remained a priority centre for Future Group is also all set to get three more Pantaloon stores by the festive season in 2011. The group has finalised locations for Madhyamgram, Lake Mall and Jessore Road.
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