Mojo Inshorts

Kishore Biyani led Future Group will defer to get into Ecommerce for next 2 Years

Kishore Biyani led Future Group will defer to get into Ecommerce for next 2 Years

TheStartupMojo

The Startup Mojo is a community which unveils the learning of the startup world to empower the budding entrepreneurs. We sincerely intend to build a network for entrepreneurs, thereby helping them to cross leverage their skills and resources to overcome their early challenges.

With so much happening into the ecommerce space along with the entrance of behemoths like Alibaba and Tencent, it is really a question that even big players are pondering, i.e whether it’s the right time to enter the ecommerce space or not. Most of the players who earlier were tempted to open an online store are now unable to see a clear way through and are feeling timid in front of some of the leading players like Amazon, Flipkart and Alibaba. Read The Ecommerce War has begun between the TRIO – Alibaba, Amazon and Flipkart

Leading to lot of speculation in running the stores one of the India’s leading retail chain group has decided to defer its plan to get into ecommerce business. In one of the statements Kishore Biyani said  “It’s stupid to be in the online space. In lifestyle, the ecommerce industry revenue in India will be around INR 2,500 Cr and losses too will be of an equivalent amount. Mobile and electronics, too, do not make money online. Having burnt our fingers, we have decided to take a break of at least two years before even thinking anything remotely about online”

2 Comments

2 Comments

  1. Yatharth Wise decision. he is a wise businessman...not jumping to foray into everything...

      Reply28 Jun, 2017 12:36 PM

  2. Pingback: AdaniWilmar enters ecommerce with Infibeam | The Startup Mojo

Leave a comment

Your email address will not be published. Required fields are marked *

Most Popular

To Top