Big Bazaar Archives - Inside Retail Asia
Amazon India has partnered with the nation’s second-largest retail chain to expand its sales in there.
Amazon India has secured government approval to stock and sell food and groceries.
Hong Kong businesses have been urged to look to the burgeoning Indian retail market for opportunities.
India’s Future Group has bought the Sangam Direct chain of retail stores from Wadhawan Retail Ventures.
One of India’s largest retail conglomerates has applied for a banking licence. Future Group said in a statement it has lodged an application for a Payments Bank Licence with the Reserve Bank of India through its founder, Kishore Biyani. “The group proposes, subject to the grant of the license and the other regulatory approvals, to name the entity, NuFuture Payments Bank. The proposed Payments Bank will work towards extending the Reserve Bank of India’s mandate of financial inclusion …
Kishore Biyani-led company Future Retail is to open 35 new stores over the next 18 months. Future Retail, a unit of Future Group, currently operates 165 Big Bazaar stores. Future Retail says it is targeting revenue of Rs110 billion ($1.7 billion) this year and Rs130 billion ($2.1 billion) the following year. Biyani is focusing on his FMCG businesses and divesting stakes in ‘non-core’ businesses like AND and Biba.