How The Bansals Revolutionized Indian e-Commerce Business?
BANGALORE: No doubt, the e-Commerce segment has been growing at a breakneck pace, taking the Indian businesses by storm. Even though e-Commerce has been making its presence in the country for almost 15 years, its apposite ecosystem has started to fall only recently. And who are at the forefront of this emerging business growth? The Bansals; From Flipkart, Snapdeal to Myntra andLenskart, Bansals are at the helm of the online retail businesses.
Hailing from small towns and graduating from IITs and the IIMs, Bansals possess a perfect blend of business tactics. Flipkart founded by Sachin and Binny Bansal, Snapdeal founded by Rohit Bansal, Mukesh Bansal heads Myntra and Peyush Bansal founded Myntra.
“We (Bansals) have the math, finance and data skills that are extremely important for e-commerce,” said Rohit Bansal (Snapdeal), reports Economic Times. These skilled minds account for about 10,000 crore of the total online retail business of nearly $ 2billion.
These five Bansals have control of about 85 percent of India’s entire e-retail industry. The turnovers of their companies are a set challenge for each other as well as incoming industry into the Indian e-retail business. The expectations for profits and big turnovers are rising up in all the stated companies of the Bansals like Flipkart, Lenskart, Myntra , Snapdeal; Via increased interest and growing trust of the people in these companies over the passing years.