While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
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.
Some of the domestic biggies like Future Group, Reliance Retail and Aditya Birla Retail, while welcoming the government's move to allow 51 per cent FDI in multi-brand retail and completely open single-brand retail, said it will take time for foreign rivals to make presence felt on their own in the Indian retail landscape.
Entirely new businesses have been built using data to disrupt traditional companies.
Patanjali Ayurved, founded in 2007 by yoga guru Ramdev, is targeting Rs 10,000-crore (Rs 100-billion) revenue in 2016-17
"Online portals are also bleeding heavily and have huge accumulated losses. There is pressure from investors to cut down on discounting."
Reliance Retail follows Future Group in online foray
Reliance has announced that it will roll out its e-commerce platform to as many as 1.2 million retailers and store owners in Gujarat. This is part of a nationwide roll-out that will come later this yea, reports Viveat Susan Pinto.
First, we need to have premiums for catastrophe events, like what they have in the developed countries. Although fire insurance covers accidents and floods, earthquake cover is optional.
Customers want formats which have wide assortment, international products, and so on. Basically, it is an assortment play.
Payback India has 10 million members now.
As and when the sector opens up to FDI, the world's second-largest retailer will automatically get equity in Pantaloon Retail or will enjoy right of first refusal, said the sources.
The movie has attracted 60 brands as merchandise partners and seven media partners
Biyani said he wanted to make amends for the steep pricing of the Future Capital IPO, which resulted in heavy losses for investors.
Future Group's plans to boost on-line sales has come across a cyber hurdle with its flagship e-commerce portal FutureBazaar being hacked and rendered dysfunctional for the last two days.
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
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
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.
Now, a new dawn breaks for Sangeeta Pendurkar, 43, who takes charge mid-month as managing director at Kellogg India.
Diversified conglomerate Future Group's e-commerce venture, futurebazaar.com, has revamped its online business portfolio and expects an around Rs 1,000 crore (Rs 10 billion) revenue over the next 18-24-months, a top company official said.
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.
Future group has gone premium for the first time with Holii. A bag and accessories brand, it was soft-launched in 2009. The prices begin at Rs 700, with most of the bags costing upwards of Rs 1,800.
With Big Bazaar Direct, the company franchisees will visit customers to take orders and the products would be delivered in three to seven days.
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
Vaidyanathan, former managing director and CEO of ICICI Prudential Life Insurance, as a sign-on bonus got 20 lakh (2 million) warrants worth Rs 47.40 crore (Rs 474 million), DNA said.
Vaidyanathan's compensation is 'a performance-linked booty'.
'Anything you buy from any Future outlet should have financing options by us'
Here's what your favourite celebrities have been up to.
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Reliance, Birla Group, Airtel eye small finance banks.
The jury is out on whether India has a big enough audience willing to shell out big bucks for a piece of their favourite celebrity.
The Indian Army on Wednesday issued an advisory asking its personnel not to consume Maggi noodles.
Kishore Biyani, founder and CEO of the Future Group, has emerged as the largest and perhaps the most successful retailer in India. Here he looks back at successes, failures and other defining moments in his entrepreneurial life.
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, the founder of Future Group, plans to more than double retail space to 30 million sq ft by 2013 and push the private labels business.
While some like RPG's Spencer's and Wadhawan group's Spinach say it will encourage them to invest more in cold chains, others such as Aditya Birla Retail and Future Group said the announcement has come too late and helps fresh produce and chilled product suppliers more than retailers.
Big retailers say the events work, but others aren't sure.
The most convincing signs of revival are visible in historically retail-oriented cities such as Mumbai, Bangalore, Delhi, Kolkata and Pune, with the action beginning to perk up in other cities as well.
Consider this: Kishore Biyani's Future Group, which owns the country's largest retailer Pantaloon, is converting the standalone stores of book and music chain Depot into shop-in-shops within Big Bazaar. While the number of Depot shop-in-shops has risen to 123, that of standalone stores has come down to nine. Same with UK-based footwear brand Lee Cooper.
Future Group Founder & CEO Kishore Biyani wants to take his pet theme of 'collaboration' to the next level for a greater share of the consumer's wallet.
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