iWorld

Future Group to now tie up with an e-commerce site

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/internet-images/2014/10/09/future.jpg?itok=_fa2Uvyn

MUMBAI: A day after lashing out at e-commerce sites such as Flipkart for undercutting prices, Future Group CEO Kishore Biyani said that he would announce his ‘exclusive e-commerce partner’ soon, according to media reports.

As per the reports, Biyani agreed that he met Amazon founder and CEO Jeff Bezos in Delhi last week, hinting that he might partner with Amazon to sell its private labels.

“We discussed many things like the macro environment, the prime minister and so on,” Biyani told a leading business newspaper talking about his meeting with Bezos.

“We can learn a lot of things from e-commerce players regarding their supply chain and logistics, sourcing and so on,” Biyani added.

The buzz is also that Biyani is expected to meet other e-commerce players for a tie-up.

The group would first take its fashion products online, followed by FMCG, general merchandise, food and others, he further said.

The reports also add, “While tying up with e-commerce portal is a ‘brand strategy’ Biyani said, the group’s own omni channel strategy, set to go live after Diwali, is a retail strategy or extension of his physical stores. He said the group's omni channel strategy will work simultaneously along with retailing on e-commerce partner.”

As part of the omni strategy, the group’s electronics format, Ezone, is expected to go online first, followed by premium food chain Foodhall and hypermarket chain Big Bazaar, a group executive further revealed.

Biyani recently came out strongly against the strategy of e-com firms, accusing them of predatory pricing backed with foreign funding.

Media reports quoted him saying, "Laws in this country do not allow sales below cost price. This is anti-competitive. We (at Big Bazaar and other retail brands) never sell below cost price.”

The future group also launched ad blitz, lashing out at the e-commerce portals with taglines like, "No deal can win the trust of a billion people, you have to earn it.”

His comments came after Flipkart announced that it clocked record sales of $100 million (Rs 610 crore) in just 10 hours of its Big Billion Day sale on 6 October. Rival Snapdeal also claimed to have matched it with its chief saying the portal saw sales of over Rs 1 crore per minute.

But the Flipkart Big Billion Day was far from perfect, the e-commerce portal later apologised for the glitches encountered admitting its ‘failure’ in living upto the expectations of its customers. Acknowledging that it was not adequately prepared for the sheer scale of the event, Flipkart promised to come better prepared next time.

Targeting the e-retailer after it released the apology letter, Future group released another ad with the tagline ‘You can't take a nation for granted even for a day.’

Confederation of All India Traders (CAIT) too has expressed concerns over huge discounts being offered by e-commerce firms. It has asked the Commerce and Industry Ministry to take steps to monitor and regulate online businesses.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/Aditya_Aima-Minal_Sharma.jpg?itok=F9f9_tYJ
Culture Machine reorganises sales team

MUMBAI: Digital media network Culture Machine has reorganised its sales team. Siddharth Narula, who served as the president – revenue, has been promoted to chief revenue officer. He will overlook the expansion of the firm’s technology sales footprint in international markets, starting with South...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/28/SiddharthaRoy-800x800.jpg?itok=AGO2pG8_
Hungama Play partners UK' ITV Studios, to foray into original content

MUMBAI: Video-on-demand (VOD) player Hungama Play has partnered with ITV Studios, a commercial production company in the United Kingdom. With this association, subscribers can now stream popular titles like Jekyll and Hyde, Mr Selfridge, Jericho, Agatha Christie’s Poirot as well as Beowulf to...

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/amzaone%20%281%29.jpg?itok=rPJLBlvy
Amazon & Netflix bag maiden Academy Awards

From wrongly naming the winner for the best film to presenters handling wrong cue cards, this year’s 89 Academy Awards did make news but, for several odds. Not only was La La Land named as the winner of for the best film instead of Moonlight but, reportedly presenters were given the wrong cue...

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/mittal%20%281%29.jpg?itok=uIyWNuJu
Airtel makes roaming data & incoming free

Bharti Airtel, India’s largest telecommunications services provider, today announced radical changes that redefine the value proposition for domestic and international roaming. With this, Airtel mobile customers will be able to carry their numbers across India and the world and stay connected all...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/rock-on%20%281%29.jpg?itok=PP5jeOzQ
Conjuring 2, Fleabag & 'Rock-On 2' digital premiere on Amazon Prime

Are you looking for some adventure filled with comedy and drama? Then, Amazon Prime Video is your place to be! Get ready to relive the ‘magik’ of music with the digital premiere of ‘Rock on 2’.

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/Telcos.jpg?itok=4hKNfhy2
Telcos may offer multi-play OTT for security, energy & appliance control: Report

MUMBAI: The Smart Home is a growing fifth-play opportunity for operators. The global smart home market is growing exponentially, attracting an array of service providers, including technology giants and startups to major media players, device makers, big-box retailers, home improvement companies,...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/27/GPS-800x800.jpg?itok=FlPmmJTS
Smartphone chip market to be worth US$ 5bn by '22: Report

MUMBAI: GNSS Chip Market is estimated to be worth US$ 5.22 billion by 2022. Some of the factors driving the growth of the GNSS chip market include the high penetration of electronic, wearable, and connecting devices; increasing demand for accurate and real-time data; rising demand for high-speed...

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/Ajit%20Pai.jpg?itok=Cx6Lc99E
Small US broadband businesses relieved from needless regulation, piracy protection mooted

MUMBAI: A government decision in the U.S. reminiscent of India's so-called one-window clearance policy has made life easier for small businesses. The Federal Communications Commission (U.S.) has relieved thousands of smaller broadband providers from onerous reporting obligations stemming from the...

iWorld Broadband
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/02/25/SavvyHB%20and%20Dilip%20Venkatraman.jpg?itok=Dh02Tyt9
VideoTap to unveil interactive smart video platform, to deliver dynamic, personalised VOD

MUMBAI: VideoTap Digital, the media technology company, promoted by media veteran Dilip Venkatraman, former CEO of CNN-IBN and IBN7 and Savvy Dilip, former Group CMO of ITV Network, is all set to showcase VideoTap, the next generation video platform at 4YFN - Mobile World Congress at Barcelona....

iWorld Video On Demand

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories