Bigbasket is currently on a strong growth trajectory, he said, adding that it aims to double its business between March 2025 and March 2026 and is eyeing an initial public offering (IPO) in the next 18-24 months.
“I sat on the sidelines for almost a year to see if quick commerce will work, was almost in a statement of denial. There are still concerns over the model making money, but quick commerce will evolve in the next five years and everyone will have space,” Menon said.
Bigbasket is set to close 2024-25 (FY25) with a topline of ₹12,000 crore and is currently generating ₹1,200 crore per month in terms of runrate. The average order value, including slotted delivery and quick commerce, stands at ₹850, with its quick commerce business, BBNow, accounting for 80% of the business.
Also Read: Quick commerce set to grow 50-70% this year, says Bigbasket Co-Founder Vipul Parekh
Bigbasket is now set to enter four new categories: Medicines, luxury fashion, food & electronics, leveraging businesses of the Tata Group.
Starting next week, Bigbasket will enter the 10-minute food delivery segment in partnership with Tata Starbucks. It will also soon launch Qmin, featuring food products from Taj, on its app.
“We’ll see how food works and expand that further,” Menon told CNBC-TV18.
Bigbasket recently partnered with Croma to enter the electronics segment, offering 10-minute deliveries in three cities. The service is set to expand nationwide soon.
Also Read: India’s quick commerce boom may slow; Blume Ventures flags growth challenges
It is also piloting luxury and fashion deliveries in partnership with Tata Cliq, starting with Bengaluru.
Bigbasket will also launch prescription & OTC medicine delivery in partnership with Tata 1MG, which will launch on May 1.
Menon added that Bigbasket will continue to explore more opportunities with Tata brands..
For the entire interview, watch the accompanying video
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(Edited by : Shweta Mungre)
First Published: Feb 28, 2025 4:14 PM IST
