Mahindra plans retail expansion

Bullish on e-commerce potential in India, Mahindra group is set to expand in the segment with its specialty retail venture Mom & Me and also gearing up to adopt franchise model for the next stage of expansion.

"I think e-commerce play in India is underestimated. Everybody's thinking there is bubble building up. No. I think e-commerce is going to explode in this country," Mahindra Group Chairman and Managing Director Anand Mahindra said.

When asked if the group was ready to tap the segment, he said: "We are beginning to go into e-commerce Mom & Me certainly will be a part of it."

On whether the group would be looking to invest in other e-commerce companies, Mahindra said at present the focus was on expanding the reach of Mom & Me. "This is where are. Where could it lead to, who knows? But right now focus is only on Mom & Me," he said.