Tag: BigBasket

BigBasket to launch express online grocery delivery to enhance customer experience

Editor

INDIA –  BigBasket, India’s largest online grocery startup, is set to launch express deliveries, in latest attempt to improve customer experience amid rising competition from rivals such as Amazon, Grofers, Reliance, and Jiomart.   According to a report by ET retail, Big Basket will over the next two to three months introduce a quick-delivery service that will be made within an hour of purchase.  Big Basket previously experimented with express deliveries but pulled back due to a number of logistical problems that it had probably underestimated prior to the launch.  The category is however hotting up with well-capitalized companies like SoftBank Vision…

Read More

Bigbasket partners iD Fresh Food to launch ready to cook brand in India

Editor

INDIA – Bigbasket, one of the largest online grocery service companies in India, has partnered with iD Fresh to launch a ready-to-cook (RTC) label iD Fresho to capitalize on the easing demand for fresh and nutritious food. Bigbasket is a leading player in the online grocery market and has operations 30 cities in India, recording about 15 million customer orders per month. Bengaluru-based iD Fresh delivers its flagship idly dosa and vada batter, along with parota, paneer and filter coffee across 30,000 outlets in the country, and US and UAE.…

Read More

Competition Commission of India approves BigBasket’s 64% stake sale to Tata Digital

Editor

INDIA – The Competition Commission of India (CCI) has given the green light for Tata Sons’ proposal to acquire a majority stake in Alibaba-backed BigBasket. Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought CCI’s approval to acquire a 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases. This is after the group had finalised a US$1.2 billion deal to acquire a majority stake in BigBasket, of which US$200-250 million would be a primary cash infusion into the…

Read More

Indian online grocer BigBasket registers losses in 2020 despite of 36% growth in revenue growth

Editor

INDIA – BigBasket, a leading Indian online grocer, has reported a 26% rise in losses for the 2020 financial year even as it managed to record a 36% growth in revenues, regulatory documents have shown. During the 2020 financial year, losses shot up to Rs 710 crore (about US$97.335 million) from Rs 562.6 crore (about US$77.127 million) in FY19, driven up by a one-time cost of Rs 117 crore (about US$16.039 million). The rise in losses was despite of the company recording a 36% growth in revenues. Revenues rose to…

Read More

Tata Group eyes majority stake in India’s largest online grocer BigBasket

Editor

INDIA – India multinational conglomerate Tata Group is in advanced talks with Alibaba- backed online grocer BigBasket, to acquire a 50% controlling stake for about $1 billion. If successful, the deal could see the Alibaba Group which is the grocer’s largest investor sell its 26% stake along with a clutch of financial investors which include Ascent Capital, CDC Group and the Abraaj Group. The negotiations with Tata Group come at a time when BigBasket is engaged with investors like Temasek, Generation Investment Management, Fidelity and Tybourne Capital, to raise US$350-400…

Read More

Indian Digest: Online food delivery startups BigBasket, Swiggy and Zomato raise funds

Editor

INDIA – The ongoing Covid-19 pandemic induced lock down has let Indians discover the convenience of shopping for food and groceries online leading to a surge in demand. BigBasket, one of the leading online grocer in the country says that the company is getting a lot of traffic without splurging anything on marketing and promotions as a lot of people who would have never used an online service are now ordering online. To support the Bengaluru-based firm with the much-needed capital, BigBasket has raised US$50-60 million in a bridge round…

Read More

India keen to tap into the growing appetite for healthier eating options

Editor

INDIA – The food and beverage industry in India is seeing a very definite change in the healthy food segment supported by the growing demand for healthy, homestyle food by consumers across cities and towns. The country has recorded an upsurge in new health and organic food products for various segments as consumers are increasingly looking to eat right – a trend that has seen several new fast moving consumer goods focusing more on healthy food segment. According to a recent ET Retail report, online food delivery platforms in the…

Read More

India’s online grocery retail market set to reach US$10.5bn by 2023

Editor

INDIA – Online food and grocery retail in India is estimated to hit US$10.5 billion or 1.2% of the overall market by 2023, according to a recent report released by consulting firm Redseer. Redseer forecasts that growth in the sector, which currently accounts for just 0.2% of the overall market, will be driven by an increased assortment of products and efforts like express delivery operations. Currently, online platforms including Bigbasket and Grofers have been the most prominent players in the industry. Bigbasket currently has over 100,000 orders a day, while…

Read More

Indian online grocer BigBasket merges two core arms to speed up delivery

Editor

INDIA – BigBasket, an Alibaba-backed online grocer in India has merged two core business, the on-demand 90-minute delivery and planned next-day orders as it seeks increase efficiencies in its business. The Bengaluru-based grocery said that the reorganization will help in supplying a larger selection of items to its customers in less than 4 hours. The on-demand business offered a smaller range of products, while customers got to choose from a larger range in the case of next-day delivery. According to an update by ET Retail, with the transition, the company…

Read More

BigBasket to invest US$100m in strengthening supply chain in expansion strategy

Editor

INDIA – BigBasket, India’s leading grocery retailer, is set to invest US$100 million (Rs 698 crore) in strengthening its supply chain by setting up vending machines and smaller distribution centres across various cities it operates in.    This follows the US$150 million financial boost that the Alibaba-backed company recently raised, which was led by Mirae Asset-Naver Asia Growth Fund, CDC Group and Alibaba Group. The online grocery platform which operates in 25 cities across India, plans to increase its efficiencies through the investment. The proceeds of the fundraising will also…

Read More