Building a retail business requires heavy investments in brand building, advertisement & promotion and distribution channels. It is natural to assume Mr. Garg unwilling to commit such investments that will take 10-20-30 years to fructify. It would be easy for him to rationalize his actions (or inaction, in this case) by pointing to lower margins. But Aditya Halwasiya is 29 and will have no such qualms. Markets value retail businesses more highly than others, and for a good reason. Mr. Garg’s reasoning was good for him, but for Cupid to realize its full potential, what lies ahead may be better. At least that is what the price action so far seems to indicate.
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