Senior Correspondent, IndianRetailer.com & Retailer Magazine Dec 29, 2016 / 1 MIN READ
Chinese e-commerce giant Alibaba is all set to open its first Indian office in Mumbai. As sources are to be believed, the new office will be adjacent to its arch rival US based e-retailer Amazon in the Bandra-Kurla Complex (BKC) , Mumbai. As per the media reports Alibaba is expected to pay the rent of Rs 275 a sq ft monthly or a little over Rs 1 crore. This is in line with rents in the area, between Rs 250 to Rs 325 sq. ft.
A leading research report indicates that India’s business to business (B2B) online retail market is estimated to grow by 2.5 times to Rs 45 lakh crore by 2020. In comparison, B2C (business to consumer) e-commerce is estimated to be only Rs 1.86 lakh crore by 2020.
As a crucial player in China's expansive digital economy and the operator of a prominent online shopping platform, Alibaba's performance is closely watched as a barometer of domestic consumption, which has shown signs of weakening recently.
A mail to Alibaba did not elicit a response. Girish Shah, a director at The Wadhwa Group which owns the Platina building, confirmed the development.
Former IDFC Securities star equity analyst Nikhil Vora has sold his entire stake in One97 Communications, Paytm's parent company, to Chinese ecommerce giant Alibaba Group Holdings, raking in about Rs 150 crore on his six year-old investment.
Lazada operates in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam and has 560 million consumers in the region.
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