Future Group indicates interest in joint venture

Date : 14 May 2018

Further consolidation in India grocery market seems likely.

Largest listed retailer in India exploring options

Future Group, led by CEO Mr. Kishore Biyani, is seeking collaborations and partnerships to enhance its market share. In a recent statement, Mr. Biyani said that India’s largest listed retailer may acquire an ecommerce platform or sell a minority stake to a “strong global retailer”. Future Group has held early talks with Amazon, although nothing has been announced yet.

The Future Group has grown consistently over the years through a series of acquisitions of supermarket store chains such as HyperCity and Nilgiri's and Sangam Direct. It currently has a total retail space of more than 13m sq ft, across more than 900 stores in India.

Response to Walmart's acquisition of Flipkart

A strategic partnership would also make sense for Amazon as this would allow them to enter brick-and-mortar retail in India. It also ensures that the ecommerce giant remains competitive in the wake of Walmart’s recent acquisition of a majority stake in Flipkart, India’s leading ecommerce operator.

 

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