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Future Group to announce e-commerce partner soon
MUMBAI: Kishore Biyani-led Future Group is all set to cash in on India’s booming e-commerce sector by announcing an e-commerce partner soon, state multiple media reports.
After Reliance and Walmart, the Future Group, India’s largest listed brick-and-mortar retailer, is also eyeing the online shopping space.
Biyani told Business Standard that the group will start its e-commerce endeavours with the electronics segment, followed by sports. The target is to have the entire Big Bazaar shopping experience online by the end of 2014.
The report further stated that to fund the e-commerce expansion plans, Biyani is planning Rs 2,500 crore worth of disinvestment this year.
Biyani also recently met Amazon founder and CEO Jeff Bezos in Delhi, and stated that he would partner with Amazon to sell its private labels. Reports suggest that he could look for other e-commerce sites as potential partners too.
BS further reports that the group would first take its fashion products online, followed by FMCG, general merchandise, food and others. Thus, the group’s electronics format, Ezone, is expected to go online first, followed by premium food chain Foodhall and hypermarket chain Big Bazaar.
Future Group already operates Big Bazaar Direct, a tablet-based shopping experience that allows kirana stores to act as Big Bazaar franchisees and take customer orders.