News

Stores

Paul Howell

, India

Published:

3 years ago

Tata's backing offers competitive edge for India's BigBasket

The conglomerate is in the final stages of buying a 60% stake in the retailer for $1.3b.

The backing of Indian conglomerate Tata Group will be extremely valuable for online supermarket platform BigBasket as major competitors Flipkart and Amazon sharpen their focus on the food and grocery sector, according to IGD.

According to reports, Tata Group is in the final stages of offering around $1.3b to acquire a 60% stake in BigBasket. Tata is also planning to integrate BigBasket with online pharmacy 1mg, which it plans to acquire.

“If successful, shoppers will be able to buy across multiple categories in food and pharmaceutical, helping create a stronger total offer,” IGD’s senior retail analyst Francis Ramos said.

BigBasket saw a 36% rise in its revenue to $525m (INR38.18b) in FY 2020, but with overall expenses jumping 31% to $605m (INR44.11b), the retailer reported losses of 26%, equating to $97m (INR7.1b).

Also Read

Filipino shoppers still prefer bricks over clicks

Hermès revamps Takashimaya flagship store in Singapore

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Technology offers solution to India’s food waste crisis in restaurants

It can also help improve efficiency and support sustainable practices in the industry.

Technology

2 days ago

India’s e-commerce market to reach $147.3b in 2024

It will be driven by the expanding internet penetration and better digital payment infrastructure.

E-commerce

2 days ago

Food colors market to reach $5.42b by 2031

Still, the market growth is constrained by strict regulations.

3 days ago

Thailand foodservice industry moves to cage-free eggs amidst ethical demand

It is driven by consumers’ expectations for humane treatment of animals.

3 days ago

Exclusives

Brands told to come clean about beauty care

Consumers are more discerning and can easily spot fake ingredient claims.

3 days ago

Swarovski cracks TikTok to scale luxury amongst Gen Zs

The Austrian glassmaker is working with influencers to connect with the Singaporean market.

6 days ago

Starbucks Korea opens high-tech store in Seoul

Its first reserve-only branch features AR art installations and a Mixology Bar.

Decathlon gets closer to hybrid Singaporean shoppers through pick-up service

The world’s largest sporting goods retailer lets clients pick up online orders on the go.Decathlon is building on the success of its pick-up service in Singapore as it progresses toward its target of having 37 locations in the city-state in the next two years, its top official said.

Stores