<ul><li><keyword id="154680" type="General" weightage="20" keywordseo="fssai" source="Orion">FSSAI</keyword> invites more than 250 applications for various profiles in the country.</li><li>The online application will start from October 8 till November 7, 2021.</li><li>Candidates will have to appear for an offline written examination.</li></ul><keyword id="6376343" type="General" weightage="20" keywordseo="food-safety-and-standards-authority-of-india" source="Orion">Food Safety and Standards Authority of India</keyword> (FSSAI) is inviting more than 250 applications for various profiles in the country. The online application will start from October 8 till November 7, 2021.<br /><br />Candidates will have to appear for an offline written examination which will be conducted at various centres, selected candidates will further be called for an interview.<br /><br />FSSAI recommends all candidates to carefully fill the online application form and cross verify all the details as no changes will be entertained. If any candidate declares any false information, his/her applicant will be held liable for the same.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specialization<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Principal Manager<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Journalism / Mass Communication / Public Relation / Marketing<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Director<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Admin &amp; Finance and Legal<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Director (Technical)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deputy Manager<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Journalism / Mass Communication / Public Relation / Marketing<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food Analyst<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Technical Officer<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">125<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central Food Safety Officer<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Manager (IT)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Manager <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Journalism / Mass Communication / Public Relation / Marketing and <br /><br />Social Work/ Psychology/ Labour and Social Welfare/ Library Science<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindi Translator<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Personal Assistant<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT Assistant <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Junior Assistant <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3<br /><br /></td></tr></tbody></table><br /><strong>Rules and regulations for all the posts —</strong><br /><br /><ol><li>All the candidates a citizen of India, or a subject of Nepal, Bhutan or a Tibetan refugee who came over to India before 1st January, 1962 with the intention of permanently settling in India, or a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania, Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India.</li><li>Candidates belonging to Other Background Class (OBC)/ Scheduled Caste (SC)/ Scheduled Tribe (ST)/ Person with disability (PwD) shall hold a certificate from the Government of India.</li><li>Each round contains weightage, if any candidate remains absent for any round will not be eligible for the selection.</li><li>If two candidates score the same or equal marks, in that case the candidate with desirable qualification or candidate older in age will be given the preference.<br /></li></ol>Candidates belonging to General and OBC category will have to pay a total ₹1,500 application and intimation charges, while candidates belonging to Women/SC/ST/PwD/ Ex-servicemen will have to pay ₹500.<br /><br />Candidates applying for multiple posts will have to fill the application form separately for each post and will have to bear the charges for each post.<br /><br />Applicants should also note that the selected candidates may be posted or transferred anywhere in India.<br /><br />Interested candidates can seek more information and can apply <a href="https://www.fssai.gov.in/upload/uploadfiles/files/DR_03_Advt_02_10_2021.pdf">here</a>.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/thanks-to-remdesivir-kwality-pharmas-stock-is-up-from-59-to-over-922-in-just-over-nine-months/articleshow/86750890.cms">Thanks to Remdesivir, Kwality Pharma’s stock is up from ₹59 to over ₹922 in just over nine months</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/dmart-and-jiomart-are-offering-deep-discounts-to-catch-up-with-bigbasket/articleshow/86750826.cms"><strong>DMart and JioMart are offering deep discounts to catch up with BigBasket</strong></a>

FSSAI is hiring more than 250 people for various profiles in India

<ul><li>Nykaa's share prices have crossed the ₹2200 mark, whereas ITC is trying to cross the ₹300 mark, Twitteratis have highlighted.</li><li>The point of contention for this meme is one  — ITC's net profit is much higher than Nykaa's profit.</li><li>Nykaa's profit fell significantly last quarter as Falguni Nayar decided that it was time to acquire new customers.</li></ul>Social media is buzzing with memes asking why Nykaa, a fashion retailer with an annual profit of ₹62 crore (in FY21), is valued more (i.e. at a greater multiple) than ITC, a 111-year old giant that sells cigarettes, consumer goods and hotel rooms, earning a profit of ₹12,934.49 crore in a year.<br />              <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755570" hostid="261"></div><br />The simple answer is, market prices in the future and not the past. But the market can be irrational before it gets the price right. Nykaa’s shares price doubled on the first day of trading, but have started to cool off today. <br /><br />                <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87757344" hostid="261"></div><br />So let’s look at what Nykaa is planning for its future and what the analysts expect the future to look like. Founder and chief executive (CEO) Falguni Nayar is doubling down on the high-margin fashion products, compared to an ITC that wants to move away from cigarettes but the other segments yield very little margin.<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market capitalisation as of Nov 17<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.03 lakh crore (around $14 billion)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.94 lakh crore ($39 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 EBITDA margin <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.61%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.9%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimate for EBITDA margin<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% FY27 (Bernstein)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.4% by FY24 (S&amp;P Global Market Intelligence)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated revenue growth for next 5 years <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65% growth between FY22 to FY27 (Bernstein)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,85,336 by FY24 (Emkay)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>*EBITDA stands for earnings before interest, tax, depreciation and amortisation</em><br /><br /><strong>Nykaa Fashion was launched in 2018 as a curated and managed marketplace</strong><br /><br />Nykaa’s profit was down in the three months ending September because Nayar decided now is the time to acquire customers and get them hooked to the brand. It meant spending more on promotions, which would also help sell <a href="https://www.businessinsider.in/business/startups/news/the-cost-of-selling-its-ipo-has-eroded-half-of-nykaas-profit/articleshow/87715261.cms">the IPO at a higher price</a>. <br /><br />              <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755520" hostid="261"></div><br />Nykaa’s marketing expenses surged four-fold but it managed to get 23 million more new users to visit its platform (both fashion and beauty ecommerce verticals) between July and September 2022. The revenue grew nearly 38% compared to the same time last year.<br /><br /><strong>Here’s why Nykaa spending so much building the fashion vertical<br /></strong><br />According to a report by Spark India Consumption, there are several reasons why Nykaa decided to venture into the fashion ecommerce space — including immense market opportunities and the limited competition, especially when it comes to premium clothing brands that sell online. <br /><br />Fast facts about the potential of fashion retail in India<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metric<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated growth rate<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion retail: Market size<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% compounded annual growth to reach $79 billion till FY19. It declined 35% in 2020 due to the pandemic<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online fashion retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% growth in the last 3 years, market size has doubled since 2017<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fastest growing segment<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Footwear and accessories<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total addressable market<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$152 billion<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Adwaita Nayar, the chief executive of Nykaa Fashion, believes that the trends in the fashion industry change rapidly and therefore an inventory-led model may not work in favour of Nykaa. The same does not stand true for the cosmetics industry. <br /><br />Apart from this, both these verticals cater to the same cohort of customers. Young Indians with “aspirations” and increasing disposable income, a report by Motilal Oswal added. The vertical is set to get a higher tailwind as more young population comes online and the spending capacity in tier-II cities increases, the financial services company added. <br /><br />Nykaa has also been fast to adapt and grab the social commerce opportunity. The company has roped in 1,300 influencers, aside from content marketing, to push its products to peeps on Facebook, Instagram, Twitter and other popular platforms. <br /><br />              <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755491" hostid="261"></div><br />About 2% of Nykaa’s revenue comes from the fashion vertical, as per the company’s red herring prospectus filed last month before hitting the public market. There is a lot of headroom for growth both in terms of revenue and market share. <br /><br />Nayar has also promised that the growth will not be driven by discounts. About 17% of Nykaa’s gross merchandise value (GMV) are sold at full price or at a discount of 10% or lower. Nykaa’s fashion and beauty verticals will move further away from discounts, Adwaita Nayar added in the pre-IPO press conference. <br /><br />But it will be easier said than done. While Nykaa’s cosmetics business is facing competition from Walmart-owned Myntra, Purplle and few other players, its fashion vertical is pitted against e-commerce giants like Amazon, Flipkart, JioMart and more.<br /><br />Despite lower discounts, the company’s average order value was at ₹3,257 in the September quarter across 13 lakh orders. <br />              <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755503" hostid="261"></div><br />Is this growth exciting enough to pay more for every dollar profit from Nykaa, compared to legacy companies like ITC? It’s for the investors to decide.<br /><br />Even then, the comparison should not be done with an ITC or Tata Steel, like the memes have . It has to be compared with other players in similar business. Even on that count, Nykaa’s shares may be a bit expensive, according to analysts at Bernstein who shared the following data in a report dated August 2021.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global beauty and personal care brands<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Forward price to sales* (as of Aug 2021)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nykaa**<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.5x<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L’Oreal<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.8x<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LVMH<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.1x<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estee Lauder<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5x<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*Source: Bernstein<br />**The Bernstein report was published before Nykaa’s IPO. <br /><br />The price-to-sales ratio is calculated by taking a company's market capitalisation ⁠— the number of outstanding shares multiplied by the share price ⁠— and divide it by the company's projected total sales for the next 12 months. The lower the ratio, the more attractive the investment.<br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/startups/news/used-car-startup-cars-24-not-in-a-hurry-for-ipo-like-droom-and-cartrade-com/slidelist/87743891.cms">INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy</a><br /><br /><a href="https://www.businessinsider.in/personal-finance/news/now-you-can-invest-in-global-blockchain-companies-through-this-mutual-fund-heres-how-to-do-it/articleshow/87724967.cms">Now you can invest in global blockchain companies through this mutual fund ⁠— here's how to do it</a><br /><br /><a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-tumble-as-china-continues-its-crackdown-against-mining/articleshow/87738496.cms">Cryptocurrencies tumble as China continues its crackdown against mining</a><br />

Nykaa vs ITC memes are hilarious but it may not be the right comparison

<ul><li>With <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> acquiring Future <keyword id="6354851" type="UNKNOWN" weightage="20" keywordseo="retail">Retail</keyword>, <keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword> is the only remaining major competitor. </li><li>While <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> is India’s richest man, he is followed by DMart owner <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>. </li><li>Here’s how the two businesses function very differently in retail. </li></ul>With Reliance Retail acquiring Future Retail, India’s richest man Mukesh Ambani struck down one major competitor in the industry and now is left with just one more – India’s second richest man Radhakishan Damani.<br /><br />The Indian retail industry, which is worth <a href="https://www.moneycontrol.com/news/business/reliance-retail-future-group-deal-how-will-it-benefit-rils-consumer-facing-businesses-5770431.html">$635 billion</a>, will now see competition grow between Ambani with Reliance Retail and Damani with DMart. While Ambani has size, scale and technology on his side, he has a weaker foothold in the grocery segment that is literally emerging as the ‘bread and butter’ segment for all retail chains.<br /><br /><strong><keyword id="9854872" type="UNKNOWN" weightage="20" keywordseo="ambani-vs-damani">Ambani vs Damani</keyword></strong><br /><br />Even though Damani might have seen a fast rise to take the second richest spot in India, Ambani’s wealth is five times more than his.<br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Worth<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$82.5 billion<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radhakishan Damani<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16.1 billion<br /><br /></td></tr></tbody></table><em>Source: Forbes</em><br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail chain<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market Cap<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.45 lakh crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail*<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3-4 lakh crore <br /><br /></td></tr></tbody></table><em>*Estimated by HDFC Securities</em><br /><br />DMart’s rise was credited to its ability to outbid kirana stores with heavy discounts — powered by smart sourcing— it wooed middle class Indians into organised retail. But now, Ambani with his deep pockets and the recent acquisition of Big Bazaar will pose bigger problems for DMart. <br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of stores<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">214<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,784<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6700<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Big Bazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1500<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400<br /><br /></td></tr></tbody></table><br />Ambani sells many more products in many more places whereas Damani has made a name in daily essentials in some parts of the country<br /><br />While Ambani sailed through the lockdown phase, Damani’s single channel approach could also be the reason why the company’s profits took a major hit during the first three months of the current financial year. <br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail chain<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June 2020 profit<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹48 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹431 crore<br /><br /></td></tr></tbody></table><br />Dmart continues to rely heavily on grocery for its revenue but the lockdown has tested his strengths – being an entrenched player with a focussed approach. DMart’s growth plan is based on a cluster based expansion model. <br /><br />While DMart relies on customer visits and its 24*7 stores, having made a tryst with online by accepting orders from housing societies through WhatsApp during the coronavirus lockdown, Reliance has been making strides in ensuring a wide footprint across channels. <br /><br />The lockdown has already tested the immunity of Damani’s model. “Higher exposure to some of the most impacted Indian districts and store closures in Apr (50% of network closed in Apr) manifested into a severe footfall loss, ergo revenue loss for D-MART,” said a report by HDFC Securities.<br /><br /><div type="image" title="dmart revenue chart." msid="77846553" hostid="261"></div><br />Reliance Retail along with its thousands of stores across tier-I, tier-II and tier-III cities has also established its online venture with JioMart. Having started with a pilot run in Navi Mumbai in December 2019, JioMart sprung into action during the lockdown and expanded its offerings to over 200 cities.<br /><br />And Reliance Retail, whose revenue is currently driven by consumer electronics, will see a boost with Future Retail’s strong presence in <a href="https://www.businessinsider.in/retail/news/heres-why-reliance-retail-with-almost-12000-stores-bought-future-retail-which-has-just-1500-outlets/articleshow/77843965.cms">grocery and fashion</a>. <br /><br /><div type="image" title="reliance revenue chart." msid="77846570" hostid="261"></div><br />As a whole company, the variety in Reliance Retail’s offerings will also expose it to the cyclical nature of demand. For instance, some of the luxury products like the Hamley’s Toys or its <a href="https://relianceretail.com/partner-brands.html">partnership</a> with global brands of apparel – Burberry, Armani, Steve Madden, Superdry – may take time to recover from the COVID-19 crisis. <br /><br />So, Ambani has placed his cards on the moneybag of the future – the grocery segment, as according to a <a href="https://www.financialexpress.com/industry/rils-jiomart-to-sell-half-of-all-online-grocery-in-india-facebook-to-help-put-mukesh-ambani-on-top-goldman/2036073/">Goldman Sachs report,</a> Ambani’s e-commerce bet JioMart is poised to sell half of all online grocery in India, which is expected to see 5 million orders every day by 2024. <br /><br />And now, the $635 billion industry will now see a fight for dominance and will test whether Damani’s focus and resilience will be able to withstand the money power of Ambani.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/retail/news/heres-why-reliance-retail-with-almost-12000-stores-bought-future-retail-which-has-just-1500-outlets/articleshow/77843965.cms">Here’s why Reliance Retail with almost 12,000 stores bought Future Retail which has just 1500 outlets</a><br /><br /></strong><a href="https://www.businessinsider.in/policy/economy/news/india-is-bracing-for-the-worst-gdp-data-in-decades/articleshow/77845325.cms"><strong>India is bracing for the worst GDP data in decades</strong></a><br />

Ambani vs Damani ⁠—  India’s $635 billion retail ring will see the country’s two richest men⁠ battle with different strategies

<ul><li>In its recent earnings report, Reliance said that <keyword id="3421090" type="PERSON" weightage="20" keywordseo="Ajio">AJIO</keyword> has scaled new highs with 4x growth in orders from pre-COVID levels.</li><li>AJIO’s latest numbers show that it’s levelling up to Myntra while moving fast ahead of other competitors like Tata Cliq, Snapdeal and Koovs.</li><li>However, Flipkart and Myntra continue to hold 60% market share in online fashion retail, according to a Bank of America report.</li><li>Currently, fashion and lifestyle account for just 9% of the total retail sales of Reliance.</li></ul>In April 2016, at the Lakme Fashion Week, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance announced its big foray into fashion e-commerce with AJIO.com. The segment that has been crowded by the likes of Flipkart, Myntra (along with Jabong back then), Amazon, and others, left little room for AJIO to outshine the others. <br /><br />But the rise of e-commerce, especially as it spreads into rural India has brought about changes in the fashion e-commerce landscape. AJIO, which up until a year ago, wasn’t even counted among the frontrunners is scripting a story of resurgence now. <br /><br /><strong>AJIO’s fast-tracked growth</strong><br /><br /> “AJIO scaled new highs with 4x growth in orders from pre-COVID levels. Its quarterly revenue run rate is now equivalent to full last year’s revenue,” said Reliance during its earnings results on October 30. <br /><br />AJIO’s latest numbers show that it’s levelling up to Myntra while moving fast ahead of other competitors like Tata Cliq, Snapdeal and Koovs. While AJIO’s website visits are higher than Myntra, it lags behind in app downloads and users. <br /><br />  <div type="image" title="Group 2" msid="78997632" hostid="261"></div><br />  <div type="image" title="Group 2 copy" msid="78997646" hostid="261"></div><br />AJIO’s growth can be seen during lockdown when it began to see a spike in the number of app downloads. <br /><br />        <div type="image" title="ajio vs myntra downloads" msid="78996631" hostid="261"></div><br /><strong>What’s working for AJIO<br /></strong><br />Reliance is aggressively pushing ahead with its retail and e-commerce ambitions, and fashion e-commerce is set to play a substantial role. Currently, fashion and lifestyle account for just 9% of the total retail sales of Reliance. <br /><br />Analysts at Goldman Sachs believe that within e-commerce, RIL’s online GMV will reach $35 billion in FY25E with a 31% market share. <br /><br />And for that, Reliance is focusing on grocery and apparel segments with JioMart and AJIO. “RIL’s retail business outperformed peers last quarter and we expect this trend to continue given its omni channel offering driving market share wins,” said the Goldman Sachs report specifically pointing out the download trends of both JioMart and AJIO.<br /><br />        <div type="image" title="reliance revenue chart." msid="78996641" hostid="261"></div><br />For AJIO’s growth, Reliance has opted for the omnichannel approach where the e-commerce site is riding on the inventory of Reliance Trends. “AJIO helps strengthen RIL’s O2O (offline-to-online) capabilities through in-store couponing, aisle kiosks. It does direct deliveries from 350 Trends and 70 Trends Footwear stores,” said the report by Bank of America. <br /><br />The platform has also enabled facilities like ‘Drop at Store with Cash Refund’ and ‘Pick at Store’ while also integrating the endless aisle kiosks where customers can even browse and order products that aren’t currently available in the store. <br /><br />With the deep pockets of Reliance, AJIO has also been able to offer great discounts while also making way for exclusive marketing strategies like the ‘Sneakerhood sale’ on AJIO. The platform has also focused on bringing on board luxury brands. “It offers over 2,50,000 styles of curated collections across its own brand and 1,400+ national and international brands,” said Reliance’s annual report. <br /><br /><strong>Resurgence in Indian e-commerce</strong><br /><br />Indian e-commerce has seen multiple stories of resurgence with a focussed approach with the most popular one being that of Snapdeal, which has bounced back and how, to be India’s third largest e-commerce platform while also solidifying its presence in Tier 2 and Tier 3 markets. <br /><br />However, when it comes to the fashion category, AJIO’s growth will still see hurdles especially as it faces tough competition from the bigwigs like Flipkart and Myntra. “While AJIO is gaining traction, we believe competition is stiff in the online fashion market with Flipkart’s Myntra/Jabong controlling 60%+ of the market,” believe analysts at Bank of America. <br /><br />But the potential remains immense – According to McKinsey’s State of Fashion 2020 report, the Indian clothing market will be worth $53.7 billion in 2020, making it the sixth largest globally.<br /><br />SEE ALSO:<br /><a href="https://www.businessinsider.in/business/corporates/news/reliance-stock-tanks-over-7-post-earnings-to-lowest-in-3-months-heres-what-brokerages-are-saying/articleshow/78996203.cms">Reliance stock tanks over 7% post earnings to lowest in 3 months — here's what brokerages are saying</a><br /><br />

Reliance-backed AJIO is riding the Indian e-commerce wave — poses tough competition to Myntra

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

<ul><li>Damani and his venture <keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s second-quarter results will show whether the billionaire investor and retail tycoon can continue to depend on his strengths solely. </li><li>Damani has competition clouding him from all sides – from the country’s richest man Mukesh Ambani, the 152-year conglomerate TATA Group and the likes of Amazon and Flipkart.</li><li>The question that remains to be answered is whether, for Damani, DMart’s offline retail outlets are enough for the next phase of growth as experts believe staying away from e-commerce isn’t going to help.</li></ul>India’s second richest man <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> will face the test of times ahead of him. Damani and his venture DMart’s second-quarter results will show whether the stock market expert and retail tycoon can continue to depend on his strengths solely. <br /><br />With coronavirus pandemic taking a toll on offline retail stores, competition rising from Reliance and now, Tata, DMart’s otherwise celebrated stock price too has lost some of its sheen. The stock has fallen by over 22% from its pre-covid highs in February. <br /><br />  <div type="image" title="DMART LATEST." msid="78695584" hostid="261"></div><br /><strong>Competition could cloud Damani’s growth</strong><br /><br />Damani has competition clouding him from all sides. Mukesh Ambani, the country’s richest man, has raised over $5 billion for his retail venture – Reliance Retail, while also acquiring one of their biggest competitors Kishore Biyani’s Future Retail. The 152-year conglomerate Tata Group is increasingly betting on a super app with eyes on acquisition or investment in the likes of <a href="https://www.ft.com/content/3019d5d6-5aba-45b8-9f54-4dc659f086e2">BigBasket</a>, while also being in talks with Walmart for a partnership. And all of this while the likes of Amazon, Flipkart are also doubling down on their Kirana store and grocery offerings, while even raining discounts. <br /><br />“DMart does not believe in any conditional discounts or promotions and also does not time its discounts to a festive or holiday season. Also, for FMCG products that enjoy high turns, DMart offers very low prices (and earns minuscule margins in several cases) in a bid to create the perception of best value,” said a report by Jefferies.<br /><br />His biggest competitor will be Reliance, which with its latest offering, JioMart, could eat into Damani’s profits. And analysts expect that within the grocery segment Reliance and Future’s combined sales could be a threat to DMart. <br /><br />  <div type="image" title="RR + FR vs DM." msid="78695595" hostid="261"></div><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Store count<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">216<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">290<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail (only grocery stores)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">797<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail overall store count<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,800<br /><br /></td></tr></tbody></table><br /><strong>Damani has opportunities but needs to ramp up his e-commerce offerings<br /></strong><br />Analysts at HSBC believe that the big market opportunity in India’s $700 billion retail industry will keep competition alive and also create a space for all players to grow. <br /><br />DMart could also double down on its store count across the country over the next few years. The management has already said that it plans to add 60 more stores by FY22. “We continue to be on the lookout for locations within our clusters and outside, where we can build new stores that can service our target customers,” the company had said.<br /><br />  <div type="image" title="Dmart store." msid="78695607" hostid="261"></div><br />But for Damani and DMart staying away from e-commerce isn't going to help. DMart currently runs 'DMart Ready' – its e-commerce offering in Mumbai alone. While they have always had a loyal customer base walking into its stores, the next phase of growth will need the retail chain to expand its online offerings. <br /><br />DMart has a registered entity called Avenue E-commerce, where the company had invested ₹252.76 crore as of March 31, 2020, however it hasn’t yet created any significant footprint with online retail.<br /><br />"RIL-Future combined gives the new entity a larger footprint for capturing the online grocery pie, especially in the large cities, where consumers equally value convenience and attractive prices. To mitigate this longer-term risk, DMART should deepen and widen the service levels of its DMART ready format, in our view," said analysts at HSBC.<br /><br />Another report by Kotak Institutional Equities too emphasized DMart's need to switch to e-commerce. "DMart needs to bring more cities under its e-commerce network in order to maintain revenue momentum. The competitive intensity would ensure that DMart's margins may not expand significantly, going forward," <a href="https://www.financialexpress.com/industry/dmart-must-ramp-up-e-commerce-network-to-compete-with-jiomart-bigbasket-grofers-others/2088331/">said the report. </a><br /><strong><br />A weak first quarter<br /></strong><br />DMart, which has 216 stores across India, had taken a severe hit during the first quarter. However, with the festive season upon us, including recently celebrated Rakshabandhan and Ganesh Chaturthi, its second-quarter results could bring in little respite. <br /><br />For the first quarter of the current financial year, DMart’s parent company Avenue Supermart had posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore. <br /><br />While most of DMart’s stores are now operational, right after its first-quarter results, the company had said that the future continued to remain uncertain. “Store operations and duration of operation per day continues to remain inconsistent across cities due to strict lockdowns enforced by local authorities from time to time. In addition, in certain cities authorities are once again insisting on selling only essential products. Hence our future revenues continue to remain uncertain,” said the company.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/retail/news/ambani-vs-damani-indias-635-billion-retail-ring-will-see-the-countrys-two-richest-men-battle-with-different-strategies/articleshow/77846555.cms">Ambani vs Damani ⁠— India’s $635 billion retail ring will see the country’s two richest men⁠ battle with different strategies</a><br /><a href="https://www.businessinsider.in/business/ecommerce/news/indians-are-ordering-a-lot-more-online-but-for-cheaper-products/articleshow/78675417.cms">Indians are ordering a lot more online but for cheaper products</a></strong><br />

Radhakishan Damani’s strengths are being put to test, and along with it, DMart’s resistance to e-commerce

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore in Q1FY21.</li><li>DMart’s high number of stores meant the company had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. </li><li>For <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, another big challenge is on the cards – If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. </li></ul>Radhakishan Damani, the owner ⁠— with a net worth of $15.6 billion, according to Forbes ⁠— of Avenue Supermarts, which operates the DMart chain of retail stores is watching a dream run come to a near standstill. For the first quarter of the current financial year, DMart’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore. <br /><br />DMart’s share price reflected the investors’ disappointment with a 4% fall on Monday (July 13). <br /><br />While DMart said that the company is less anxious now than it was during April 2020, analysts say the causes of worry are only beginning. The biggest of them is a challenge from Asia’s richest man, Mukesh Ambani. <br /><br /><strong>Higher costs at stores while customers head to kiranas<br /></strong><br />One of Damani’s biggest advantages was the presence of DMart in Tier-II cities, reaching out to a larger market. But analysts at HDFC Securities believe that this very strength has turned into its weakness. “Higher exposure to some of the most impacted Indian districts and store closures in Apr (50% of network closed in Apr) manifested into a severe footfall loss, ergo revenue loss for D-MART,” said the report.<br /><br />DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. <br /><br />The higher number of stores also meant DMart had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. <br /><br />DMart too acknowledged that ‘organized retail’ failed to mark during the lockdown as local kirana stores <a href="https://www.businessinsider.in/retail/news/jiomart-dunzo-swiggy-and-likes-want-to-ride-the-trust-earned-by-indias-kirana-stores-during-the-lockdown/articleshow/76826479.cms">came to the rescue.</a> <br /><br />The company said customers didn’t put ‘value’ as a priority during lockdown. “There is also a sales channel of traditional trade which is smart, agile and resourceful. India still has a strong and resilient network of small shops and neighbourhood stores. They came roaring back after the first 2 or 3 weeks of lockdown serving the needs of an anxious customer the way the customer wanted it - quickly over the counter or through home deliveries,” said the company in a regulatory filing.<br /><br /><strong>A bigger challenge if Reliance and Future Retail join hands<br /></strong><br />DMart’s rise was credited to its ability to outbid kirana stores with heavy discounts powered by smart sourcing and it wooed middle class indians into organised retail. But now the question is – can he beat someone with deep pockets like Mukesh Ambani?<br /><br />If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. Reliance is reportedly close to closing the deal with Kishore Biyani’s Future Retail, as the corporate giant is doubling down investments in the Indian retail sector with its own venture JioMart. <br /><br /><div type="image" title="mukesh ambani" msid="76937031" hostid="261"></div><br />Ambani is already into grocery retail but bagging Big Bazaar would give him an unprecedented reach and market share that would be difficult to beat. So far, the Future Group <a href="https://www.businessinsider.in/business/news/future-retail-share-price-jumps-because-of-a-possible-investment-from-mukesh-ambani-reliance-premji-or-samara/articleshow/76460606.cms">with a big bag of debt</a>, has not been much of a competitor even though it had a headstart over DMart and ten times the number of stores. <br /><br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of stores<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">214<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10901<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6700<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Big Bazaar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2000<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400<br /><br /></td></tr></tbody></table><br /><strong>Uncertainty with lockdowns<br /></strong><br />Even as he prepares for the Ambani challenge, DMart may be bracing for another troubled quarter.  Several of the states in which DMart is operational – Tamil Nadu, Maharashtra, Karnataka, have once again enforced strict lockdowns.<br /><br />As the latest earnings show, despite keeping stores open 24*7 since April 1⁠— and tying up with housing societies and taking in orders through WhatsApp ⁠and delivering them at home— the volumes have tumbled and profits have shrunk severely. <br /><br /><div type="image" title="dmart revenue (1)." msid="76937002" hostid="261"></div><br /><div type="image" title="dmart profits (1)." msid="76937010" hostid="261"></div><br />“Discretionary consumption continues to be under pressure, especially in the Non-FMCG categories. This is impacting gross margins negatively. Store operations and duration of operation per day continues to remain inconsistent across cities due to strict lockdowns enforced by local authorities from time to time. In addition, in certain cities authorities are once again insisting on selling only essential products. Hence our future revenues continue to remain uncertain,” said the company.<br /><br /><br /><br />

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