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<ul><li><keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> – will be expanding its portfolio to launch mobile phones and electronics on <keyword id="4079791" type="PERSON" weightage="20" keywordseo="January-26">January 26</keyword>, a source told Business Insider India.</li><li>Under the pilot phase, JioMart will launch in Navi Mumbai and will soon move to include a lot of other things in e-commerce including pharmacy. </li><li>Just a week ago, JioMart had silently launched as a grocery retail platform.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> e-commerce debut – JioMart – will be expanding its portfolio to launch mobile phones and electronics on January 26, a source told Business Insider India. “Going ahead with the store-driven e-commerce model, JioMart will soon launch a lakh odd stores on its platform, where even if a product is not available on the platform it will tell you where the nearest availability is, all of it is currently under pilot phase,” said the source. When contacted by Business Insider India, Reliance spokesperson refused to confirm or deny the development. Under the pilot phase, JioMart will launch in Navi Mumbai and will soon move to include a lot of other things in e-commerce including pharmacy. Just a week ago, JioMart had silently launched as a grocery retail platform that calls itself ‘desh ki nayi dukaan’. The website says that it is currently available in Navi Mumbai, Thane and Kalyan - suburbs of Mumbai. Reliance is currently calling for pre-registrations from users with savings of as much as ₹3,000. JioMart’s debut is a threat to several e-commerce players who have been scaling up their grocery retail operations like – Amazon, Flipkart to startups like BigBasket, Grofers, Swiggy, Dunzo. For over a year now, rumours of Reliance e-commerce debut had been doing the rounds. See Also: <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-e-commerce-venture-jiomart-makes-a-silent-debut-calls-for-pre-registrations/articleshow/73046911.cms">Reliance’s e-commerce venture JioMart makes a silent debut, calls for pre-registrations</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rushes-to-bring-kishore-biyani-future-group-online-days-after-mukesh-ambani-jiomart-launch/articleshow/73116395.cms">Amazon rushes to bring Kishore Biyani’s Future Group online, days after Mukesh Ambani’s JioMart launch</a>

EXCLUSIVE: JioMart will launch mobile phones and electronics on January 26 and soon, everything under the sun in e-commerce

<ul><li>The barely one-year old <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> will pose a tough competition to <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>'s years of experience.</li><li>JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment. </li><li>But it's experiments come right before the festive season – with Diwali and Dussehra around the corner.</li></ul>Mukesh Ambani’s JioMart has many things in its favour – billions of funding, technological prowess backed by Facebook and Google, and Reliance’s already existing reach across 6,700 cities in India. But during this festive season, the barely one-year-old JioMart will try to give a tough competition to Amazon and Flipkart’s years of experience. JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment. And it's experiments with fashion come right before the festive season – with Diwali and Dussehra around the corner. With the year having seen tepid retail sales so far, the festive push is what every e-commerce platform will be gunning for. Sale, sale, sale Reliance’s recent acquisition of Future Retail and its existing apparel offerings through Reliance Trends, Ajio.com are sure to back up JioMart’s offerings. According to an <a href="https://www.timesnownews.com/business-economy/companies/article/this-festive-season-you-may-get-more-discounts-at-jiomart-than-amazon-flipkart-as-reliance-retail-wages-price-war/659002">ET report</a>, JioMart is also getting ready with deep discounts across fashion and consumer electronics to counter Amazon and Flipkart’s sales. JioMart will be able to leverage its partner brands to offer deals and discounts. <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;">Reliance’s e-commerce offerings </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;">Jio Mart </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;">Ajio.com </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 digital </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;">Home Shop18 </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;">BookMyShow </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;">Reliancesmart.in </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;">NetMeds </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;">Zivame </td></tr></tbody></table> While JioMart just concluded its ‘Festive Ready Sale’ from October 2nd-4th, more sale events from the platform are said to be on the cards. Meanwhile, Flipkart is getting ready with its marquee festive event – Big Billion Day sale, set to begin on October 16. Amazon, too is going to announce the dates for its Great Indian Shopping Festival soon. Ramping up grocery But that’s not it. While diversifying its offerings across categories, JioMart is also doubling down on its grocery segment. According to <a href="https://yourstory.com/2020/10/jiomart-subscription-milk-bread-deliveries-bengaluru-chennai">reports</a>, JioMart is also working on a subscription-based model for dairy delivery – quite similar to MilkBasket and Big Basket offerings. It's also <a href="https://timesofindia.indiatimes.com/business/india-business/jiomart-bets-on-private-labels/articleshow/78455174.cms">reportedly </a>working on private label offerings – a path that its peers in grocery BigBasket and Grofers have already taken up successfully. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-ditches-viacom18-merger-talks-with-sony-has-its-eyes-set-on-building-indias-no-1-ott-and-broadcast-platform/articleshow/78491844.cms">Reliance ditches Viacom18 merger talks with Sony – has its eyes set on building India's No.1 OTT and broadcast platform</a> <a href="https://www.businessinsider.in/tech/news/vijay-shekhar-sharma-fires-the-shots-paytm-launches-its-own-android-mini-app-store-to-take-on-google/articleshow/78484994.cms">Vijay Shekhar Sharma fires the shots – Paytm launches its own Android mini-app store to take on Google</a>

JioMart gets ready for its festive sale debut amidst tough competition from Amazon and Flipkart

<ul><li>The e-commerce debut of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>, is being touted by analysts as the real digital powerhouse for the RIL family. </li><li>Having started with a beta launch in December 2019, <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> officially rolled out to users across the country in May, 2020. </li><li>JioMart went into a fast expansion mode during the coronavirus lockdown in India and has managed to gain an early mover advantage in the country’s smaller towns.</li></ul>JioMart – <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s ambitious e-commerce bet has taken off and how! Having started with a beta launch in December 2019, JioMart officially rolled out to users across the country in May, 2020 and it already has a million daily active users, and 2.3 million active users every month, according to a JPMorgan report. The same report said that, JioMart has already crossed BigBasket and Grofers in terms of daily active users and falls behind Swiggy. Business Insider reached out to BigBasket and Grofers for their comments regarding their daily active users, both the players declined to comment. India’s online grocery segment: The players <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;">Launch date </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;">Presence (no. of cities) </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;">App downloads </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;">Amazon Fresh </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;">August, 2019 </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 </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;">314 million (for Amazon) </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;">Flipkart Supermart </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;">November, 2017 </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;">5 </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;">361 million (for Flipkart) </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;">Swiggy Stores </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;">February, 2019 </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;">30 </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;">89 million (for Swiggy) </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;">BigBasket </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;">October, 2011 </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;">26 </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;">34 million </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;">Grofers </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;">December, 2013 </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;">30 </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;">30 million </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;">JioMart </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;">December, 2019 </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;">200+ </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 million </td></tr></tbody></table>As of December 8, 2020. Source: JPMorgan While other entrenched players like Big Basket and Grofers, who have been around for much longer, still have 7-8 times more app downloads, the rise of JioMart in the last six months only reflects the speed at which Ambani has tried to push his <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> dream. Since its launch, in every three downloads of any online groceries app, two of them have been the one from the house of Reliance Industries (RIL). <div type="image" title="Jiomart downloads." msid="79922658" hostid="261"></div> Even the mightiest need to hustle sometimes JioMart in India sees competition from many players who have existed and dominated the Indian e-commerce market for a long time – including the likes of Amazon and Flipkart. And so, as Ambani, Asia’s richest man, threw his hat into this ring, he decided to go all out: both in the big cities of India and beyond. JioMart operates with an <a href="https://www.businessinsider.in/business/ecommerce/news/heres-what-gives-jiomart-an-edge-over-its-competitors-according-to-goldman-sachs/articleshow/79054698.cms">omnichannel</a> flow where it has tied up with kirana stores (mom-and-pop stores) and also uses inventory from Reliance Retail outlets. Ambani’s e-commerce bet made a soft launch in December 2019 in select areas of Thane, Navi Mumbai, and Kalyan. But as the coronavirus lockdown began and the opportunities in e-grocery became more evident, JioMart was quick to act and expanded to over 200 cities. This fast growth across India has given JioMart an early-mover advantage in India’s smaller towns, say analysts at JP Morgan. Given the progress of JioMart in the first year, analysts at JPMorgan peg that Reliance’s e-commerce business may earn an annual revenue of over $59 billion and the net worth may hit $145 billion in the next ten years. A Goldman Sachs report from November 2020 had pegged this omnichannel capability ⁠— using different channels for distribution, both online and offline ⁠— as the reason for JioMart’s growth. “India has 10 million kirana stores, which account for 90% of grocery retail in the country. JioMart has already launched in more than 200 cities, leveraging Reliance Retail’s store network, with kirana partnerships across 20 cities,” said the Goldman Sachs report. JioMart is not just stretching far and wide, it’s also building strength via partnerships and acquisitions Ambani is not just going for geographic expansion but he is also on a spending spree to boost JioMart’s offerings to its customers. According to JPMorgan, JioMart’s stock keeping units (SKU) is only second to Big Basket. However, the comparison didn’t include players like Flipkart, DMart and other new entrants like Swiggy and Zomato. JioMart, with access to the deep pockets of one of the world’s richest man – Mukesh Ambani, has managed to successfully partner up with another of the world’s richest man – Facebook founder Mark Zuckerberg. Facebook pumped in $5.7 billion into Reliance Jio in April 2020, with WhatsApp’s integration with JioMart being a prime focus of the deal. It’s set to be a win-win for both Ambani and Zuckerberg – where Reliance can take advantage of WhatsApp’s 400 million user base to acquire more customers. On the other hand, WhatsApp Pay, Facebook’s debut in the payments segment, will benefit from integrating with JioMart for payments. Another early acquisition made by the company was that of the Mumbai-based Grab-a-Grub. In 2019, Reliance pumped in $15 million for 83% stake in the hyperlocal delivery startup. Reliance has also acquired online pharmacy company <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms">NetMeds</a>, picked up a stake in online lingerie retailer Zivame, and online furniture retailer <a href="https://www.businessinsider.in/retail/news/reliance-retail-acquires-urban-ladder-for-182-crore-at-a-sixth-of-the-startups-peak-valuation-in-2018/articleshow/79230550.cms">Urban Ladder</a>, all of which could further bolster its e-commerce foothold. The acquisition of Kishore Biyani’s Future Retail for almost ₹25,000 crore also gives JioMart access to BigBazaar stores across the country as well. However, Ambani and Biyani are in a <a href="https://www.businessinsider.in/business/news/amazon-got-an-operation-successful-patient-dead-verdict-lawyers-say-the-delhi-high-court-order-is-actually-a-win-for-kishore-biyani-and-future-group/articleshow/79842995.cms">legal battle with Amazon</a> that has challenged the deal both in India and abroad. SEE ALSO: <a href="https://www.businessinsider.in/business/news/amazon-got-an-operation-successful-patient-dead-verdict-lawyers-say-the-delhi-high-court-order-is-actually-a-win-for-kishore-biyani-and-future-group/articleshow/79842995.cms">Amazon got an “operation successful, patient dead” verdict ⁠— Lawyers say the Delhi High Court order is actually a win for Kishore Biyani and Future Group</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-warns-people-against-unauthorized-digital-lending-apps-that-promise-quick-loans/articleshow/79919474.cms">India’s central bank warns people against unauthorized digital lending apps that promise quick loans</a>

Mukesh Ambani is taking e-tail by storm⁠ — JioMart already has more daily active users than BigBasket and Grofers

<ul><li>Analysts at <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> expect <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> to garner a 50% market share of India’s <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> segment by FY25. </li><li>JioMart’s expansion, even as competitors like Grofers and Swiggy have limited their presence, will give it an added advantage. </li><li>Barely a year old in the industry, JioMart is riding on Reliance’s power and presence across the country. </li></ul>Mukesh Ambani’s JioMart has been hailed as the next big thing in online <keyword id="1392240" type="PERSON" weightage="20" keywordseo="grocery-retail">grocery retail</keyword>. This, even as the sector sees tough competition from the likes of Amazon, Flipkart, Grofers, Swiggy, and BigBasket, with whom the Tata Group is reportedly in talks for a 50% stake. Analysts at Goldman Sachs expect JioMart to have a 50% market share of India’s online grocery segment by FY25. And here’s why they are bullish about the company’s growth. JioMart’s foray into areas others have refrained from Ambani’s e-commerce bet made a soft launch in December 2019 in select areas of Thane, Navi Mumbai, and Kalyan. But as the coronavirus lockdown began and the opportunities in e-grocery became more evident, JioMart was quick to act and expanded to over 200 cities. And this gives it an edge over others – its presence across India and offline-to-online approach by partnering with kirana stores. India’s kirana retail network of millions of stores remains the primary source of sales for grocery across the country. It has also become the object of fascination for the likes of Amazon, Flipkart. “India has 10 million kirana stores, which account for 90% of grocery retail. JioMart has already launched in more than 200 cities, leveraging Reliance Retail’s store network, with kirana partnerships across 20 cities,” said the Goldman Sachs report. JioMart’s expansion comes even as its competitors like Grofers and Swiggy have limited their presence. Grofers, which is present in 30 cities, sees most of its revenue come in from the top four or five cities. “Even Swiggy, which operates a food platform across 500 cities, mentioned it will restrict grocery to about 20 cities,” said the report. Barely a year old in the industry, JioMart is riding on Reliance’s power and presence across the country. India’s online grocery segment: The players <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;">Launch date </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;">Presence (no. of cities) </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;">Amazon Fresh </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;">August, 2019 </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 </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;">Flipkart Supermart </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;">November, 2017 </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;">5 </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;">Swiggy Stores </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;">February, 2019 </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;">30 </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;">BigBasket </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;">October, 2011 </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;">26 </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;">Grofers </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;">December, 2013 </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;">30 </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;">JioMart </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;">December, 2017 </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;">200+ </td></tr></tbody></table> JioMart’s downloads are surging JioMart’s availability in cities that the other apps don’t service during the nationwide lockdown also helped add to its popularity. During its first quarter (April-June) earnings report, Reliance had said that JioMart clocked big numbers during the lockdown – over 400,000 orders on a single day. In the second quarter, the company said that JioMart continues to scale-up rapidly with a consistent increase in daily customer orders. The Goldman Sachs report showed that the new app downloads for JioMart in recent weeks have been double than BigBasket and Grofers put together. <div type="image" title="Jiomart downloads." msid="79054710" hostid="261"></div> Even while the analysts at Goldman Sachs noted that downloads don’t necessarily translate to transactions on the app, they said, “it is an indicator of initial customer engagement, which can translate into future market share.” JioMart + WhatsApp integration boost? Another advantage lying on JioMart’s side is its possible integration with WhatsApp. During Facebook’s $5.7 billion investment in Reliance in April, it was clear that Reliance Retail would be leveraging WhatsApp’s existing large user base in India to reach out to new customers. In return, WhatsApp Pay’s possible integration with JioMart will give Facebook the much-needed kickoff for its payments feature. “RIL’s foray into the space leveraging its large ofﬂine distribution capabilities, and integration of ability to order groceries through WhatsApp, a platform with &gt;400 mn MAUs in India,” said the report about Reliance’s stronghold in grocery. Tapping newer avenues Meanwhile, JioMart is also expanding beyond groceries; it has recently forayed into fashion, consumer electronics. And it's experiments with fashion came right before the festive season – with Diwali around the corner. According to <a href="https://yourstory.com/2020/10/jiomart-subscription-milk-bread-deliveries-bengaluru-chennai">reports</a>, JioMart is also working on a subscription-based model for dairy delivery – quite similar to MilkBasket and Big Basket offerings. It's also <a href="https://timesofindia.indiatimes.com/business/india-business/jiomart-bets-on-private-labels/articleshow/78455174.cms">reportedly </a>working on private label offerings – a path that its peers in grocery BigBasket and Grofers have already taken up successfully. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-backed-ajio-is-riding-on-the-indian-e-commerce-wave-poses-tough-competition-to-myntra/articleshow/78996579.cms">Reliance-backed AJIO is riding the Indian e-commerce wave — poses tough competition to Myntra</a>

Here’s what gives JioMart an edge over its competitors, according to Goldman Sachs

<ul><li>The <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> is looking to foray into the <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> and payments segments in India.</li><li><keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> is India’s second richest man, with just <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> ahead of him.</li><li><keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Group is reportedly planning on offering <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> and e-commerce services through the Adani One app.</li></ul> Gautam Adani-led Adani Group has a diverse portfolio, from ports to energy and more. The conglomerate is now reportedly looking to enter the e-commerce and payments segments as the group diversifies. According to a report by Financial Times, the Adani Group is in talks to enter the e-commerce and payments segments as it wants to expand its digital business to take on Mukesh Ambani’s <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and Google in India. While the Adani Group has a stake in several businesses, it has yet to make its presence felt in consumer-facing segments. <cmsannotation type="cmsannotation" annotationid="Talks on for payments license, credit card" comment="subhead" text="Talks on for payments license, credit card">Talks on for payments license, credit card</cmsannotation> The Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. <cmsannotation type="cmsannotation" annotationid="Push for ONDC" comment="subhead" text="Push for ONDC">Push for <keyword id="19987599" type="General" weightage="20" keywordseo="ONDC" source="keywords">ONDC</keyword></cmsannotation> The Adani Group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). With ONDC’s interoperable networks, companies do not have to invest in developing their own e-commerce platforms or payment systems. The ONDC services will reportedly be available on the company’s Adani One app, which was launched in 2022. The Adani One app currently offers travel services such as flight and hotel bookings. The services will initially be aimed at the company’s gas and electricity customers, offering them incentives to use their app in the form of cashback and discounts. <cmsannotation type="cmsannotation" annotationid="To take on Mukesh Ambani" comment="subhead" text="To take on Mukesh Ambani">To take on Mukesh Ambani</cmsannotation> Mukesh Ambani and Gautam Adani, who are the top two<a href="https://www.businessinsider.in/india/news/top-25-richest-people-in-india-in-2024/articleshow/110149894.cms"> richest people in India</a> have been competing for the top spot, with Adani occupying the top spot for a while. Gautam Adani’s net worth took a hit after a sharp decline in Adani Group shares during the Hindenburg saga. US-based research firm Hindenburg had released a report on the Gautam Adani-owned companies in late January in 2023, alleging stock manipulation among others. Adani Group’s<a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-mukesh-ambani-to-become-indias-richest-man/articleshow/106564235.cms"> shares rallied</a> after the country’s Apex Court passed a<a href="https://www.businessinsider.in/stock-market/news/adani-hindenburg-sc-verdict-sees-pack-rally-with-adani-energy-solutions-in-the-lead/articleshow/106505824.cms"> verdict</a> in favour of the group. Adani even went on to emerge as India’s richest man by adding $7.67 billion to his net worth in a short span. While Mukesh Ambani reclaimed the top spot, the gap is once again narrowing. According to the Bloomberg Billionaire’s Index, Gautam Adani’s net worth has now surged to $109 billion, just behind Mukesh Ambani who is valued at $114 billion, bringing down the gap to $5 billion. In the last year, Adani’s wealth has surged by $25 billion, while Ambani’s wealth has surged by $17.3 billion. Despite this surge, Adani’s wealth is yet to reach its peak of $119 billion. Adani’s new ventures will take on Mukesh Ambani’s JioMart and JioFinance, which is expected to soon begin offering payment services. Additionally, it will also take on Google Pay, one of India’s most popular UPI platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-launches-new-annual-ad-free-subscription-plan-at-a-discount/articleshow/110486706.cms">JioCinema launches new annual ad-free subscription plan at a discount</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google

<ul><li>Last week, <keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> had restructured and rebranded its grocery business to Meesho Superstore.</li><li>The company has emphasised that all impacted employees have received severance packages and outplacement assistance.</li><li>It also mentioned that the redundancies do not impact its core Meesho marketplace business, where they continue to hire.</li></ul>Facebook-backed ecommerce company Meesho has laid off 150 employees from its grocery business, which was restructured and rebranded to Meesho Superstore last week. The seven-year-old company had decided to integrate its grocery vertical into the main shopping app in this restructuring, which led to a few “redundancies”. Meesho has confirmed the layoffs, highlighting that the impacted employees have received severance packages and outplacement assistance to secure new opportunities outside the company. “About 150 full time employees will be impacted by the restructuring of Meesho Superstore, which is aimed at bringing in efficiencies,” the company’s spokesperson told Business Insider. The company currently has a workforce 2,000 employees and it is not planning to downsize any further. The company, in a blog post <a href="https://meesho.io/blog/meesho-streamlines-grocery-business-to-drive-efficiencies">published </a>on Monday, also mentioned that the redundancies do not impact its core Meesho marketplace business, where they continue to “hire and grow” talent. The report by The Economic Times also noted that sources aware of the development had mentioned that around 400 employees were impacted by Meesho’s downsizing. Meesho has denied this claim. Secondly, the sources also mentioned that Meesho is looking to pivot its grocery business to do away with its reliance on city-level executives. Thirdly, the layoffs were an attempt to reduce Meesho’s cash burn, the sources said. Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho is an ecommerce company that has raised over a billion dollars till date. The company’s investors include Meta (formerly known as <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword>), SoftBank, Trifecta Capital Advisors, Fidelity Management and Research Company and others. The company was valued at $4.9 billion in September 2021. Meesho<a href="https://inc42.com/buzz/valued-at-5-bn-meeshos-losses-near-inr-500-cr-in-fy21/#:~:text=The%20startup%20generated%20a%20revenue,INR%20348.7%20Cr%20in%20FY20."> posted</a> a revenue of ₹792.8 crore in the fiscal year 2021 and its losses were at ₹498.6 crore, as per regulatory filings. It competes with ecommerce titans like Amazon, Flipkart and JioMart. The company offers over 700 categories, pan-India logistics, payment services and support capabilities to its customers. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tcs-wipro-maruti-suzuki-jsw-steel-among-hot-stocks-to-watch-out-for-on-april-12/slidelist/90790324.cms">TCS, Wipro, Maruti Suzuki, JSW Steel among hot stocks to watch out for on April 12</a> <a href="https://www.businessinsider.in/politics/india/news/india-likely-to-miss-2022-solar-target-by-27-says-report/articleshow/90790889.cms">India likely to miss 2022 solar target by 27%, says report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-2-lite-5g-nord-smartphone-to-launch-soon-in-india/articleshow/90775769.cms">OnePlus Nord CE 2 Lite 5G, Nord Buds teased — expected to launch soon in India</a>

Facebook-backed Meesho lays off 150 employees in restructuring of grocery business

<ul><li>Mukesh Ambani-led <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> (RIL) has crossed the ₹15 lakh crore market capitalisation milestone.</li><li>Over the last 10 trading sessions, RIL’s share price has surged by over 11%.</li><li>After being stuck in a range for much of the last one year, the stock started to see traction at the end of July and is picking up pace now.</li><li>Check out the other latest news and updates on Business Insider.</li></ul><keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s <keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> Industries has crossed the ₹15 lakh crore market capitalisation, surging by over 17% since the end of July. Shares of RIL touched an all-time high of ₹2,389, up by over 4% over the previous closing price. In the last month alone, RIL’s share price has leaped by over 17% compared to Nifty 50’s 6.55%. <div type="image" title="RIL 31_03_21 to 03_09_21." msid="85896450" hostid="261" caption="&amp;lt;p&amp;gt;RIL share price in the financial year 2021-22 so far&amp;lt;/p&amp;gt;"></div> The gulf between the market capitalisation of RIL and other companies continues to widen. RIL and Tata Consultancy Services (TCS) were in a neck-to-neck race in January this year. Now, the gap between the market cap of both the companies is a little over ₹1 lakh crore. So, how exactly has RIL pulled so far ahead of the rest of the market? The company’s annual report has some clues. <div type="Article" hostid="261" msid="83031946" title="Despite the nearly 6% rally, this is only the fourth best week for Reliance Industries’ shares this year" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Triple hypergrowth engines driving RIL’s future" comment="subhead" text="Triple hypergrowth engines driving RIL’s future">Triple hypergrowth engines driving RIL’s future</cmsannotation> In the annual report, the company’s chairman Mukesh Ambani identified the digital business a.k.a Jio, retail, and oil-to-chemicals units as the three pillars of growth. Together, these three businesses contribute to most of the company’s topline (revenue). However, they weren’t doing too well until this last quarter, which also looks way better than reality because the comparable period from a year ago was even worse. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Business </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (April-June 2021) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth compared to same time last year </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (FY21) (in crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (FY20) (in crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹38,563 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,53,818 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,62,936 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.6% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital Services </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,403 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.9% </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90,287 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹68,462 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.9% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oil to Chemicals (incl. petrochem) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,03,212 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,20,008 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,32,786 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-39.9% </td></tr></tbody></table> Source: RIL annual report The O2C business, which makes for more than half the company’s revenue, has seen a drastic decline. This was, in part, due to the fall in demand due to lockdowns across the country during the first wave of COVID-19 last year. The recovery in the conventional energy business is important for Mukesh Ambani to seal the stake sale in the unit to Saudi Arabia’s Aramco. “In our view, sustained strong petrochemical performance improves the likelihood of O2C stake sale in FY22,” said a Jefferies Equity Research report dated May 27, 2021. The stock will gain strength as the deal closure gets more visible. <cmsannotation type="cmsannotation" annotationid="A big step in green energy has further fuelled the market’s excitement around RIL" comment="subhead" text="A big step in green energy has further fuelled the market’s excitement around RIL">A big step in green energy has further fuelled the market’s excitement around RIL</cmsannotation> <div type="image" title="Mukesh Ambani" msid="85896685" hostid="261"></div> Mukesh Ambani yesterday announced that the company has started developing the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar, which he claimed will be one of the largest integrated renewable energy manufacturing facilities in the world. The complex will house four giga factories, covering different sources of renewable energy. The company will invest ₹75,000 crore over the next three years for its green initiatives. “At the current stock price (₹1,969, May 26), valuing the Energy business at long-term average multiples, we are left with ₹1,150 per share as imputed value of RIL’s stake in Jio and Retail,” the report further added. The Jefferies report gives a target price of ₹2,580 (+8%), but if RIL manages to seal the Aramco deal, this is increased up to ₹3,150 (+32%). <cmsannotation type="cmsannotation" annotationid="Jio is becoming stronger" comment="subhead" text="Jio is becoming stronger">Jio is becoming stronger</cmsannotation> Reliance Jio <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-loses-over-4-million-subscribers-airtel-and-jio-add-over-9-million-in-june/articleshow/85589113.cms">added</a> over 5.4 million subscribers in the month of June as per a Telecom Regulatory Authority of India (TRAI) report. The latest additions take Jio’s mobile subscriber base to over 430 million. In addition to wireless, Jio has also been increasing its fiber users, taking its total subscribers to over 3.22 million in June. <cmsannotation type="cmsannotation" annotationid="Jio Platforms is prepping fast for the 5G era" comment="subhead" text="Jio Platforms is prepping fast for the 5G era">Jio Platforms is prepping fast for the 5G era</cmsannotation> Perhaps one of the biggest announcements coming out of RIL recently, is the fact that Jio is working with chipmaker Qualcomm to bring affordable 5G to India. The company announced that Jio and Qualcomm have tested their 5G network, touching the 1Gbps milestone on the newly developed 5G stack. In total, the company has 371 patents, 40 of which were granted in FY21. <cmsannotation type="cmsannotation" annotationid="Reliance Retail remains a top player despite losing the battle for Future against Amazon" comment="subhead" text="Reliance Retail remains a top player despite losing the battle for Future against Amazon">Reliance Retail remains a top player despite losing the battle for Future against Amazon</cmsannotation> In a setback for Reliance Retail, the country’s apex court <a href="https://www.businessinsider.in/retail/news/amazon-wins-supreme-court-case-against-mukesh-ambani-reliance-retail-and-kishore-biyanis-future-group/articleshow/85092072.cms">ruled</a> in favour of Amazon, preventing the company from acquiring Future Retail in a over ₹24,000 crore deal. The company had reached an agreement to acquire Future Group’s retail and wholesale business, in addition to the logistics and warehousing business. However, Ambani is making all the right noises with this cash generating segment, for a company that was for nearly three decades known as an energy giant. Reliance Industries’ subsidiary, Reliance Retail Ventures, now has a 40.95% stake in Just Dial, the popular hyperlocal search engine that connects merchants with customers. The acquisition is valued at ₹3,947 crore and will help the Mukesh Ambani-led company bolster its merchant database as it seeks to expand its presence in the retail segment with JioMart. At the moment, JioMart is available in 200 cities and towns across India. The company claims that it has served over 1 million customers via online and offline channels. It has partnered with local kirana (grocery) merchants in 33 cities, as of March, 2021. The JioMart app has been downloaded by over 10 million users on Android alone. Reliance is betting big on retail, leveraging its digital presence by launching its hyperlocal platform JioMart across 200 cities in the country. But beyond that, the company also teamed up with merchants – it now claims to have over 10,000 vendors on its platform. This had a direct impact on its revenue numbers, as the vendors contributed to 10% of retail revenues, from almost a year ago. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indusind-bank-shares-slide-as-a-year-old-cayman-islands-order-against-hinduja-bank-resurfaces/articleshow/83197693.cms">IndusInd Bank shares slide as a year-old Cayman Islands order against Hinduja Bank resurfaces</a> <a href="https://www.businessinsider.in/business/startups/news/online-broker-zerodhas-valuation-has-doubled-from-1-billion-to-2-billion-within-a-years-time/articleshow/83037425.cms">Zerodha doubles its valuation to $2 billion within a year as millennials plough India’s stock markets</a> <a href="https://www.businessinsider.in/stock-market/news/former-hdfc-bank-ceo-aditya-puri-and-carlyle-will-be-among-the-new-owners-of-pnb-housing-finance-triggering-an-open-offer/articleshow/83105948.cms">Former HDFC Bank CEO Aditya Puri and Carlyle will be among the new owners of PNB Housing Finance triggering an open offer</a>

All the things that drove Reliance Industries’ shares to a 11-month high and over the coveted ₹15 lakh crore mark

Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both

New Delhi, Apr 27 () Billionaire Mukesh Ambani's Reliance Industries has started limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report. "The customer initiates the interaction on WhatsApp, checks out the grocery order on JioMart webpage, gets connected with a retail store on WhatsApp and then customer picks up the order from Kirana and pays in cash," it said, adding the model is likely on delivery and completion of the transaction on one app. The Facebook deal will help Ambani set up a digital platform to take on Amazon and Walmart's Flipkart in an e-commerce market that KPMG says is likely to grow to USD 200 billion by 2027. The deal benefits Facebook via "partnership with the largest retail player in India, where partnership starts with grocery, and later could be extended to medicine distribution, fashion and lifestyle stores, food delivery, etc," Credit Suisse said in a report. Also, Reliance Jio, with its 388 million telecom users, could provide telecom infrastructure for various Facebook's solutions, it said. For RIL, the large user base of WhatsApp (400 million) could significantly accelerate the adoption of the JioMart app besides it would leverage Facebook's experience to monetize data through advertising. "The key advantage is not only the large base of WhatsApp users in India but the amount of time spent on the app per day by an average user. "This would catapult Jio into the attention of the large user base, thereby addressing the first key barrier of awareness post-launch of its New Commerce offering," Credit Suisse said adding this was based on assumption that at some stage, JioMart could be a mini-app within WhatsApp (a concept similar to WeChat mini-programmes) which would avoid new 400 million downloads of JioMart and give JioMart immediate access to 400 million users of WhatsApp for grocery. It is likely that the partnership could be extended beyond grocery to other retail products too. "Deal cash flow would help RIL bring down overall net debt and help to move towards its target of achieving zero net debt by March 2021," it added. J P Morgan in a separate report said it believes that initially WhatsApp would be integrating a 'Jio Shopping bot' on the API, and allow users to add the bot to their contacts. Once added, users can search for a local business, see available products in a catalogue, and purchase the product in the thread or in the shop. The Facebook deal should help accelerate Jio's ability to further evolve into a full-stack player across India's e-commerce ecosystem, it said. The acquisition of a 9.99 per cent stake in Jio Platforms Ltd for USD 5.7 billion represents the second-largest investment of Facebook to date (the largest was USD 19 billion WhatsApp acquisition in February 2014). This corresponds to a quarter's worth of free cash flows for the firm. "Nevertheless, it still represents a significant step for Facebook as this may strengthen its evolving business model in commerce," Credit Suisse said. ANZ MR

Reliance starts using WhatsApp for grocery deliveries but model to evolve

<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. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755570" hostid="261"></div> 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. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87757344" hostid="261"></div> 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. <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 </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 </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 </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 </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) </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) </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 </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% </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% </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 </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) </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) </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 </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) </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) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*EBITDA stands for earnings before interest, tax, depreciation and amortisation Nykaa Fashion was launched in 2018 as a curated and managed marketplace 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>. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755520" hostid="261"></div> 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. Here’s why Nykaa spending so much building the fashion vertical 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. Fast facts about the potential of fashion retail in India <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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> 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. 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. 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. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755491" hostid="261"></div> 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. 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. 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. Despite lower discounts, the company’s average order value was at ₹3,257 in the September quarter across 13 lakh orders. <div type="image" title="Nykaa vs ITC memes are hilarious but it may not be the right comparison" msid="87755503" hostid="261"></div> 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. 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. <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 </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) </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** </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>*Source: Bernstein **The Bernstein report was published before Nykaa’s IPO. 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. 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