You must have purchase something from Big Bazaar fbb. They belong to Future Group. Reliance Group has acquired Future Group. Kishore Biyani was the founder of the Future Group. After getting his education he joined his family business named Bansi Silk mil.
After this he started WBB. He also started another group Pantaloon. Till 2007 his business was doing very good but suddenly Flipkart came into the market which is an online portal. People started buying products from online instead of going into the market.Hence the downfall started.
During 2012 the Future Group was under the debt of 8000 crore.
Then he sold out his company Pantaloon to Aditya Birla Group for 1600 crore.
He also started online portal for Big Bazaar but that was not a success. In 2016 jio came into the market and that wasn't Revolution people started buying products from the mobile app.
Finally, in 2019, he was under debt of 12000 crore.
Then pandemic came and the share of Future Group dropped.
Then there was no option other than selling big bazar.
He sold the company to 24713 crore ro Reliance Retail.
For more understanding watch:
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