After 6 years as head of L-Catterton Asia, an investment fund supported by LVMH in Asia, Bijou Kurien is the Chairman of the Retailers Association of India, and a member of the Board of several Indian companies such as Brigade Enterprises (property), Timex Group (watches) and Suguna Foods (food). At the World Retail Congress in Paris, he shared with mind Retail his vision of the VC landscape in India.
How is the Indian retail market developing?
In the food sector, there are virtually no foreign retailers left: Metro AG sold its stake to a local player at the end of 2022, Carrefour left in 2014… Food distribution remains highly fragmented, with informal trade accounting for around 93% of the market. Indian consumers are not prepared to travel far for their food purchases. We are still constrained by the lack of quality retail space. Domestic talent is still very limited. Since October 2020, I
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