Mahindra’s to take small & calibrated steps in Indian e-commerce
Mahindra Group, which has good a presence already in the retail sector through a few offline specialty retail units like Mom & Me and Beans Talk, is looking at small steps to build its presence in the online e-commerce market, Anand Mahindra, CMD of the company told CNBC-TV18.
The group well known for its flagship automotive business has presence in retail of toys, baby care products besides used cars.
In the online world, it runs an auto information guide Indianbluebook.com and another spin-off of its used car business Mahindra First Choice besides other channels for selling products of its offline retail ventures such as Mom & Me and toy store Beanstalk.
The group chief said that all these are differentiated plays compared to other large players in this business: “Mahindra is not the kind of place where you go in and then you will raise billions of dollars and spend them in advance of a business model being proven.”
Commenting on the potential of the space, he said, “E-commerce in India has huge potential particularly due to existing infrastructural problems here. Consumers will find it easier to buy on the internet, and a boom awaits us especially when we get 4G network in future.”
Earlier this month, Tata Sons’ former chief Ratan Tata said he is interested in e-commerce as an industry sector after reports said he is looking to invest in e-commerce giant Snapdeal.