Biyani Betting his Future with Alibaba rather than Amazon
Biyani Betting his Future with Alibaba rather than Amazon.
Kishore Biyani's recent partnership with Paytm for selling Big Bazaar products on the latter's site is part of his broader strategy to build an alliance with Alibaba, Paytm's largest shareholder, reports Times of India. Alibaba plans to debut its business-to-consumer (B2C) site Tmall in India in 6 months and one of the options being considered is morphing the Paytm marketplace into Tmall, said two people aware of the matter. Biyani's Future Group will be a key seller on Alibaba's B2C platform, they said. They added that Biyani has ended Future Group's exclusive selling arrangement with Amazon that was forged in October 2014.
Future Group is India's biggest retailer and home to chains such as Big Bazaar, Easyday and Central. "India is an important emerging market with great potential and we are absolutely committed to developing this market for the long term. But we do not in principle discuss market speculations about our business plans in the media," an Alibaba spokesperson said. The Alibaba spokesperson was responding to ET's query on plans to convert Paytm's marketplace into Tmall and having Future Group as a prominent seller. Future Group said it wouldn't respond to market speculation. A Paytm spokesperson said Alibaba would be best placed to respond on questions about its plans for India.