FutureBazaar To Re-Design, Clocks Rs 62 Crore Revenue

12 Comments

Futurbazaar,com, the online shopping window of the Future Group owned Pantaloons Retail is expecting to cross Rs 180 crore in revenue in the new fiscal on the back of a re-launched website. According to BS, the now year old online retail arm of Pantaloon Retail has already clocked Rs 62 crore. The number seems to have fallen below projections as indicated in a report in April, predicting revenues to be around the Rs 75.5 crore mark. The report quotes Sankarson Banerjee, CEO, Future Bazaar, as stating Wipro Technologies will be redesigning the portal at a cost of Rs 20 crore. They will be expanding product range and categories, including regional brands.

The portal also plans to retail regional language movies. FutureBazaar currently sells around 800 Hindi movie titles and 400 regional ones. It will also add to its regional books inventory with a plan to push sales currently around the 1,000 mark to 12 lakhs (1.2 million). Interestingly, they are also looking at an Argos’esque offline information center that can hold product catalogues of the entire product range gleaned from the website.

12 Comments

sunny

62 Cr revenues means atleast 620 Cr GMV [sales 10% commission]. That translates into 52Cr per month and 1.7 Cr per day. Considering that their avg cart value would be 4K (which is really high), they would be doing 4500 orders per day which transales into 3 order per minute. Consdering that traffic drops to 20-30 of the peak time during 6-9PM and then 12-7am, i really wonder if 62 Cr is GMV or revenues. Any insights??, Im curious

Srinivas

Hi This is Srinivas, futurebazaar.com may get investment from any damn ????? but the website it self is a fraud site. Intentionally they do not deliver things on time and block the cash for their own benefits. They return back the cash after 2 to 3 months of prolonged discussions.

How can anyone trust such a website where a person can not trust if the product is going to be delivered or not. I would mark the site as 2 out of 10. If anyone still wants to continue to this website, its upto them.

Denis Martin

Hi,

This is Denis. I read your site. It is very impressive to read that future bazar online shopping is so benefited to and getting lots of revenue.

amit

Thanks Cerius.
Would you have any report or news on what the major sites are doing in terms of Sales?

For that matter is any one in this forum aware of the numbers? I know Travel sector does experience sales of say RS.1000 crore ( not revenue) …..does anyone has insight into the exten of ecommerce in any other segment?
Everyones's conctribution to this will be greatly appreciated.

thanks
amit

Cerius Shah

Hey Amit,

Unfortunately futurebazaar earning's are not posted, have to rely on previous reports coupled with hearsay. All that I got to work with on that is revenue's.

Thanks,
Cerius

amit

Cerius ,
Assuming that the revenue is 62 crore, I assume they are doing atleast 300 cr of sales online, is it?
Can we also have total sales number there please.
thanks

Manish Gulati

The interesting part is those who dont get jobs in even startup internet portals end up in wipro. And then the very same internet startups or companies try to outsource to these service companies….interesting outsourcanomics

Karan

What experience does Wipro have in ecommerce or internet portals in general?
Has their own 01markets.com been successful?

This is the problem with the big companies, they get funding and they go for big brands for implementation

amit

Is this Revenue or Turnover ( Sales)? Can someone clarify and make the distinction please. It seems like these terms are used interchangeably in the internet world…and they actually do not mean the same :)

MADHAVI

Hi,
This is Madhavi. I read your site. It is very impressive to read that future bazar online shopping is so benefited to and getting lots of revenue.

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