Tata Digital Will Stitch All Assets: Mukesh Bansal
The Tata group has consumer-facing brands like Titan, Tanishq, Westside, Zara, Chroma, Taj Hotels, Tata Sky and now commands a 35 market share with three airline brands, he said, adding that it also has digital brands like the 1MG business acquired recently and Tata Cliq
The diversified Tata Group touches every online shopper with existing consumer brands and the attempt of Tata Digital will be to bring together all the assets under a single value proposition, the new outfit’s president Mukesh Bansal said on Wednesday. The group — which will be competing for head on with Mukesh Ambani’s digital business, Amazon and the Walmart-owned Flipkart — will be making announcements on how it goes about the job in the coming months, Bansal said, speaking at the annual NTLF event.
The Tata group has consumer-facing brands like Titan, Tanishq, Westside, Zara, Chroma, Taj Hotels, Tata Sky and now commands a 35 market share with three airline brands, he said, adding that it also has digital brands like the 1MG business acquired recently and Tata Cliq.
“We have a lot of these assets and a huge number of consumers who overlap significantly with pretty much all the people who spend money online in the country. The group has a brand, relationship, and deep pedigree of expertise across a much broader spectrum of category and that is what gives us a right to play,” Bansal said.
“The whole endeavor of Tata Digital is how do we bring all these assets together and stitch a unified value proposition,” he added without elaborating.
Stating that the group will go public about how it is thinking about it, Bansal made it clear that this is going to be a long-term journey for the group.
Bansal, who was the co-founder of Myntra, joined the group when it acquired his second company Cure. fit and was made the president of Tata Digital.
When asked about working in new-age digital startups versus working in over a century-old group, he said Tata Group has the unique position where people from both worlds come together and a culture which supports both.
On one side, there are executives who know how to operate at scale and the importance of profitable businesses, while on the other, there are those from the digital economy like himself.
“It’s a fairly open set up, the way the organization is set up and our culture is not that different than any large scale digital startup. (There is) a lot of autonomy, independence, freedom to experiment and fail,” he said.
Quizzed about the defining businesses for the next decade, Bansal said it will be dominated by a higher ingress of brands, transition to clean energy, additional focus on healthcare from the people in the background of the pandemic through opting for supplements and preventive solutions and continuous education.
(PTI)
