Kishore Biyani, founder and CEO of Future Group has trolled #flipkart and others on the billionday drama with a print ad that clearly tells etailers : “You can’t take a nation for graned even for one day.”
Kishore Biyani, who over the last 15 years played a very significant role in organized retail business has gone extremely vocal when it comes to ecommerce business (and their discounts).
“These days, the media only looks at e-commerce. However, you must also ask if gross margins of any such company are positive or not. There is hope of survival for them when their gross margins are positive. I’m not saying it is sustainable or it is not sustainable.
“They’re getting private equity money in the hope that one day they’ll have their own products and brands,” [Biyani told PTI].
Future group has been working on several ecommerce initiatives – the latest being Big Bazaar Direct E-commerce store, using which Big Bazaar is targeting 50,000 franchisees by the end of the year through this Franchisee based business model. This will allow consumers to buy Big Bazaar products at their nearest retail store or kiraana outlet.