It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
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.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
From January 1, all these iPhone users will get the Rs 1,499 plan completely free for 1 year, which equals value worth Rs 18,000
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
Walmart, the world's largest retailer, is hoping to get more than 30,000 consumers through its e-commerce pilot project that will be launched in the first week of July.
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
The hottest showstoppers at Lakme Fashion Week Spring/Summer 2016.
M&S operates in a joint venture with Reliance Retail.
Nita Ambani, wife of Reliance Industries Chairman Mukesh Ambani, has been recommended for appointment as a director on the board of the company.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
Consolidated revenue rose to a record Rs 163,854 crore.
The company would venture into khadi products and animal feed this year, Ramdev said.
Declaring that the plans will come at less than one-tenth of global rates, Ambani said Jio Fiber plans will be priced between Rs 700 to Rs 10,000 per month "to suit every budget".
Reliance Retail follows Future Group in online foray
A confident, assertive single woman is finding her way into popular advertising narratives.
The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
The introduction of the two new products is an indication of the importance of India as a market.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
Navil Noronha stepped out of the shadows to address the media for the first time during the company's recent IPO.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
Some analysts believe convenience stores could be challenged by digital grocery in the future.
Since allowing FDI in multi-brand retail has been left to the states, Indian companies may not benefit as foreign investors are wary of the politics.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
E-commerce buyouts: Mahindra, Godrej to leverage on physical stores.
While brick-and-mortar retailers have been the most vocal in their protests, e-tailers do not seem to be in a hurry.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Polling in Rajarajeswari Nagar constituency has been deferred to May 28.
Avenue Supermarts, which runs D-Mart, posted a 47 per cent jump in net profit in the March quarter and its revenue and operating profit went up 41 per cent. The company's chief executive and managing director, Neville Noronha, talks to Raghavendra Kamath about strategy.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
E-commerce pilot for wholesale begins from July in Hyderbad and Lucknow
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
Why should Reliance Digital position itself as an alternative to Chadhaji's store? It simply doesn't make good business sense, says Sudhir Bisht.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
12,000: Number of people Flipkart plans to hire in FY15.
