The Ledger
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Venkateswaran: The B2C grocery delivery model cannot win in India
“The entire world was saying it is, you know, Groffers, Pepper Trap, Local Banya, Zopper, Zopnow. So everybody was going on B to C grocery, and Nexus had a conviction that grocery cannot be won in this model, and we had the same conviction too.”
LocalBanya burned a ₹200 crore ad budget but lost to BigBasket
“I mean, you know, even for us at Local Banya, we had 200 crores of ad expense from Times of India. Big Basket didn't have that. But we couldn't beat them, because they were just a better product.”
Gulati: LocalBanya liquidated 68 lakhs of FMCG inventory in one Sunday
“I think one of my biggest life changing and evolving activity was the liquidation sale at local Banya where we had to, you know, give up our Kalina work workspace. I mean the whole warehouse and we liquidated 68 lakhs worth of FMCG products in one Sunday.”