Written By zenger.news CHENNAI, India — American tech mogul Jeff Bezos, who owns Amazon, had one billionaire to fight in the Indian e-commerce space — Mukesh Ambani, who owns Reliance Industries. Now, another — Gautam Adani, who owns the Adani Group — has put a leg into India’s highly competitive e-commerce market, which is expected to grow to $200 billion by 2026. Walmart-owned, and one of India’s largest e-commerce firms, Flipkart has inked a deal with multinational conglomerate Adani Group to build one of its largest fulfillment centers in the financial capital Mumbai. The fulfillment center, a distribution facility where…
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Written By RANJITA GANESAN Aditya Birla Fashion and Retail Ltd (ABFRL) has bought significant stakes in luxury couture businesses of fashion designers Sabyasachi and Tarun Tahiliani. What is the business rationale? Read on The opportunity in Indian wear, or ethnic wear as it is often called, has come to the attention of corporate and private equity investors over the last few years. (Image: Unsplash.com) To up for an occasion, women can get away with a beautiful saree, kajal, and flowers, said Tarun Tahiliani. Most men, in his view, have to choose from contrasting options such as western shirts or 'maharaja'…
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Written By DEBOJYOTI GHOSH After acquiring 51% in Sabyasachi Mukherjee’s fashion house, Kumar Mangalam Birla-led ABFRL has picked up a 33.5% stake in Tarun Tahiliani’s couture label. Tarun Tahiliani, founder and CEO, Tarun Tahiliani Brand Billionaire Kumar Mangalam Birla-led fashion retailer Aditya Birla Fashion and Retail Limited (ABFRL) has announced its second deal with an Indian designer brand in less than a month. The Mumbai-based retailer on Wednesday said that it has acquired a 33.5% stake in fashion designer Tarun Tahiliani’s Goodview Properties Private Ltd (GPPL)— that will own and operate the designer’s eponymous couture label—for ₹67 crore. The deal…
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Written By Shivani Shinde & Samreen Ahmed The deal is the biggest in online groceries space so far, values BigBasket at Rs 13,500 cr; will give exit to investors Alibaba, Abraaj and IFC The total size of the e-grocery market in the country is expected to grow from $1.9 billion in 2019 to $3 billion by the end of 2020 The Tata Group is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket, for about Rs 9,300-9,500 crore, said a source close to the…
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Written By MG Arun From having to sell his business to facing legal challenges on his deal with Reliance and a one-year ban from the capital markets, retail icon Kishore Biyani finds himself indistinctly inglorious circumstances. Kishore Biyani By MG Arun: Kishore Biyani, 59, CEO of the Future Group, whose name became a byword for corporate innovation, is also a close observer of human psychology, a street-smart entrepreneur who often ignored PowerPoint presentations and instead backed his business instincts. Often called the pioneer of organised retail in India, Biyani consistently bet on the Indian consumer’s penchant for physical shopping before…
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