What happened to Big Bazaar why Big Bazaar failed? (2024)

FAQs

Why did Big Bazaar failed? ›

Big Bazaar was in debt and could not afford to pay off loans to lenders well in time. The condition was not good sincein 2017. In 2019 most of the store were closed due to Pandemic and sale was dropped, which further worsen the condition of the Big Bazaar in totality the condition of Future group.

Reliance says it has taken over the stores after Future failed to pay rentals for years, and it is merely taking back its properties after cancelling the sub-leases for default. Two Future Group companies had confirmed to the bourses that they had indeed received termination notices for 893 leased outlets.

After most of the Future Retail-owned Big Bazaar outlets were taken over by Reliance Retail after it failed to honour its payment obligations, customers are facing a dilemma about the validity of the vouchers they hold.

The Reliance-Future deal didn't take off after secured creditors of Future Retail refused to give their nod. However, the shareholders and the unsecured creditors had earlier approved the deal with Reliance.

TATA Nano: The name TATA itself reminds us how gigantic the organisation is. But, even such a massive and powerful company failed when it tried to launch Nano into the automobile market. Initially, Nano grabbed a lot of attention for its shape, size and cost-effective factors.

Reliance takes control of Future Retail stores, including Big Bazaar.

In August 2020, Reliance Retail announced its plan to buy the retail and wholesale business and the logistics and warehousing business from the Future Group for Rs 24,713 crores. Too much diversification and constant restructuring led to the fall of Kishore Biyani's FRL.

The Indian consumer market, particularly the retail sector of our nation, continues to lures significant FDI from business giants from all across the globe. The prevailing scenario makes the Big Bazaar franchise a profitable business model for startups and aspiring entrepreneurs.

Amazon has agreed to acquire a 49% stake in Kishore Biyani's Future Coupons, which owns a 7.3% interest in Big Bazaar operator Future Retail. This gives Amazon a 3.58% indirect stake in Future Retail, worth about ₹745 crore on Thursday.

Amazon has destroyed a Rs 26,000 crore company for Rs 1,400 crores: Future Retail tells SC. Future Retail Limited (FRL), which operates India's popular retail chains, including Big Bazaar, on Friday informed the Supreme Court that Amazon has destroyed them.

Who is the CEO of Big Bazaar? ›

Retailing pioneer Kishore Biyani is the founder and group CEO of the $4.6 billion (revenue) retail giant Future Group. The group includes hypermarket chain Big Bazaar, food retailer Food Hall and convenience store chain EasyDay.

The lease of over 950 properties, where the stores of several Future Group outlets like Brand Factory, Central, Big Bazaar and Easy Day used to operate, were transferred from Future Group to Reliance Retail in early 2021 by the landlords after Future Group was unable to pay the rent.

As part of the FBB rejuvenation programme, the chain has either hired people from fashion institutes, department stores or replaced staff who knows to sell fashion better. Nayak says the chain has taken 100 stores in the top eight cities as priority for this programme.

While Future has more than 1,700 outlets, Reliance will rebrand 200 of the retail company's Big Bazaar stores. The remaining stores will continue to be run by Future Retail.

Tata Consultancy Services was the most valued brand across India in 2022. This means it had the highest reputation as a company, and was valued at over 45 billion U.S. dollars that year. HDFC followed the private financial institution with over 32 billion dollars-worth in brand value.

Tata Consultancy Services (US$45.5 billion) is the new number one most valuable Indian brand, claiming the top spot from HDFC Bank (no. 2, $32.7bn) which has held the position since the first ranking was unveiled in 2014.

The Bollywood actress is the face of the French luxury brand, Bazaar Arabia shares all the details here… Just in, Bollywood superstar Deepika Padukone is the new brand ambassador of luxury French designer, Cartier.

“Instead of taking over Future Retail, Reliance is doing this as a real estate play because retail is all about location and store space. Over 400 such Big Bazaar stores will be rebranded as Reliance Retail. Reliance will re-employ Future Retail staff working at these locations,” said a source.

Apple regained its crown as the world's largest company by market capitalisation with a valuation 6 per cent and 13 per cent ahead of Saudi Aramco and Microsoft, respectively. Reliance Industries (at 58th position) and Tata Consultancy Services (69th spot) were the only two companies from India in the global list.

Synopsis. Kishore Biyani's Future Group can survive on its own albeit at a reduced scale with the help of banks and lenders if it loses its legal battle to Amazon, an independent director on the board of Future Retail (FRL) has said.

What went wrong with Biyani? ›

Biyani sold the assets after Covid-19 decimated operations, and Amazon began proceedings against Future for breach of contract.

Founded in 2001, Big Bazaar is one of the oldest and largest hypermarket chains of India, housing about 300+ stores in over 120 cities and towns across the country. In February 2022, Reliance Industries took control of over 200 Future group stores and rebranded Big Bazaar as Reliance's Smart Bazaar Stores.

Reliance took over the charges of approx 260 stores of Big Bazaar and FBB to recover its debt or retail space which they rent out to Future group. Big Bazaar is closed now and the new format which is opening in Place of Big Bazaar is Smart Bazaar and in place of FBB store Reliance Trends is coming up.

D Mart focused on inventory turnover (the higher the inventory turnover, the faster the goods move off the shelf). D Mart had an average inventory turnover of 16x while the inventory turnover at Big Bazaar stores was 4x. D Mart's business model is focused on groceries while those in the larger market focus on clothing.

D Mart focused on inventory turnover (the higher the inventory turnover, the faster the goods move off the shelf). D Mart had an average inventory turnover of 16x while the inventory turnover at Big Bazaar stores was 4x. D Mart's business model is focused on groceries while those in the larger market focus on clothing.

Rejection of the Reliance deal by its creditors has put Future Retail in deep trouble. With Reliance becoming the main tenant of 835 FRL stores across formats, it has very little to offer to any potential buyer, once its creditors drag it to the auction block.

DMart is a supermarket retail chain giant owned and managed by Avenue Supermarts Ltd. Do you ever wonder what the 'D' in DMart stands for? It stands for Damani which is the surname of its founder Mr Radhakishan Damani who is a billionaire investor, and businessman who founded DMart in the year 2002.