The stake buy will put Tata Group in direct race with Amazon, Flipkart, JioMart and GrofersHighlightsTata Group in now in direct race with Amazon, Flipkart and Jiomart BigBasket was established in 2011 in Bangalore and presence in 25 cities Tata Group has actually already revealed strategies to release a super appTata Sons, through its wholly owned subsidiary Tata Digital, has acquired a majority stake in the Alibaba-backed online grocery seller BigBasket (Grocery store Grocery Material Private Limited).
E-grocery has actually been among the fastest growing sectors in the customer e-commerce area and the offer comes at a time when the Covid-19 pandemic and resultant lockdowns have actually stimulated a big shift to online shopping, particularly for food and groceries.The stake buy in Bigbasket will place Tata Group in direct race with Amazon, Flipkart, JioMart and SoftBank-backed Grofers, which have been hitherto controling the e-commerce space in the country.Pratik Buddy, CEO of Tata Digital said: Grocery is among the largest components of an individual's consumption basket in India, and Bigbasket as India's largest e-grocery player, fits in completely with our vision of developing a large customer digital community.
We are delighted to invite Bigbasket as a part of the Tata Digital.
The Competitors Commission of India had, in April, authorized Tata Digital's deal of acquiring approximately 64.3 per cent stake in Grocery store Grocery Product Private (SGS) which runs the online grocery delivery platform BigBasket.BigBasket was established in 2011 in Bangalore and has an existence in 25 cities throughout the country.Meanwhile, the Tata Group has actually currently revealed strategies to launch a very app that will provide a single-point access to a range of Tata customer organizations consisting of Qmin (a food shipment platform), Tata CLiq (way of life online shopping website) and Croma (an electronics shop).
The super app will be launched by Tata Digital in fiscal year 2022.