Digital Commerce Businesses Achieved Size & Scale, But Money Is Elusive: Future Group’s Kishore Biyani

At the fifth edition of the D2C summit organised by Inc42, Future Group’s founder Kishore Biyani has highlighted his views on the growth and stance of digital commerce businesses in India.

Biyani said that to build capital has become a difficult part for ecommerce platforms as compared to physical retail businesses. “Digital commerce has achieved size and scale, but money is elusive.”

Founded in 1987 by Biyani, Future Group is an Indian conglomerate chain that owns various prominent labels operating across the country for nearly four decades. Some of its brands include Smart Bazaar, Brand Factory, Future Lifestyle Fashion, FBB, among others.

He stressed that it would take a longer duration to eliminate the challenge posed by the capital deficit for the digital commerce ventures.

Biyani’s comments on the digital commerce businesses come close on the heels of Delhivery planning to launch a network of multi-tenant dark stores for “rapid in city delivery” for ecommerce companies.

It is pertinent to note that based on an Inc42 survey — “India’s Top Startup Investor Ranking H1 2024 Survey” — about 93% of over 50 startup investors see 2024 as a turnaround year for Indian startups. Only a mere 7% feel that funding corrections will continue to fret Indian startup founders.

The cumulative funding raised by Indian startups has now crossed the $150 Bn mark in the first half (H1) of the calendar year 2024.

Surprisingly, Inc42’s report revealed that the H1 2024 funding trend failed to capture investors’ optimism, which is otherwise visible from the findings of the survey.

The retail businesses have long been shaping their business models to adapt to the changing consumer lifestyle in the country today. India’s thriving D2C landscape, which presents a $300 Bn market opportunity, is striving hard to sustain the interests of investors.

However, it is evident that investors remain optimistic for the later half of the year due to the performance of the Indian public market, aside from the recent fundings and IPOs.

The D2C Summit is presented by Broadway, co-presented by Simpl and Emiza, powered by Venture Catalysts++, Zippee, Pay10 and Mobavenue, along with associate partners NITRO and Rukam Capital.

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