Now Birla eyes a pie of India’s e-commerce market

Kumar Mangalam Birla, the chairman of the 40 billion dollars (over Rs 24,600 crores) Aditya Birla group, is now eyeing for a pie of the lucrative e-commerce market either by acquiring e-retailers or building its own entity.

Most apparel majors and industry heavyweights have announced their e-commerce plans. While Arvind has already announced its entry into the e-commerce space with the launch of a custom clothing brand, Creyate, keeping the rising interest of customers in e-commerce in mind, textile and apparel major Raymond, the 89-year-old company catering to the men's wear segment has made an online foray with a full-fledged virtual platform called RaymondNext.com, that will also include mobile apps.

The Tata Group is planning an entry into the e-commerce space and Reliance is ready to extend its retail business into e-commerce with its own marketplace model by next fiscal.