Tablez has signed a master franchisee agreement for India and Sri Lanka and plans to invest $85 million to open 65 Toys ‘R’ Us-branded outlets in India.
A case in point is a new carveup, food-only retailing, where 100% FDI is permitted but only locally sourced and produced food items are allowed to be sold.
Thanks to the rapidly evolving ecommerce market in India, logistics firms have been in high demand among investors.
If the transaction goes forward, this will be Biyani’s fourth acquisition in as many years, as his Future Group consolidates its position.
Experts said such deals would help the country’s top retailer make inroads into remote areas where modern retail has yet to reach while.
The government is using various methods from luring companies to even pressurising them to invest, according to various executives directly aware of the matter.
The move makes Urban Ladder the first foreign-funded ecommerce marketplace to capitalise on new regulations that allow foreign-funded single brand companies to sell directly through online portals.
An email sent to the company remained unanswered as of press time Tuesday. Prior to Ajio, Mehra was vice president for India unit of Wolverine Worldwide Inc.
India allows 100 per cent foreign investment in ecommerce marketplaces but such marketplaces cannot stock or sell on their own.
The government is said to have dropped plans to include some general merchandise such as soaps and shampoos, which is the main point of complaint against it.
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