Indian e-commerce giant Paytm Mall is looking to increase ties with local retailers to strengthens its position against present e-commerce leaders – Flipkart and Amazon. The third-largest player on the Indian e-commerce scenario is planning to bring online grocery marketplace BigBasket on its platform. Both Paytm Mall and BigBasket have an investment by China’s Alibaba Group.
Paytm Mall is planning to integrate BigBasket into its app, Amit Sinha, the chief operating officer of the online retailer, has told Reuters during an interview. The e-tailer, which is owned by Paytm E-commerce, already has a healthy revenue partnership with Future Retail, which operates the giant hypermarket chains like Big Bazaar.
“When we talk about partnerships there will be brand partnerships, there will be retail partnerships – and not only with All over India retail chains like Big Bazaar but also with regional, local city-based brands,” he further added.
Paytm Mall is considering buying stakes in another retailer or selling its own stake if the need to form strategic partnerships arises, Sinha said. He, however, made no comments on reports of the Paytm Mall planning to buy the minority stake in Future Retail with Google.
Recent reports suggest that Google is planning with Paytm Mall to pick a 7-10 percent share in Future Retail for Rs 3,500-4,000 crore as an investment.
Paytm, the parent company of Paytm Mall has raised about 650 million dollars and is valued at roughly 2 billion dollars. The firm has Alibaba Group as its biggest stakeholders, while SoftBank, Saif Partners and Paytm founder and chief Vijay Shekhar Sharma are its biggest shareholders.