Newsletter
Amazon-backed More Retail is gearing up for an IPO next year, looking to cash in on India’s growing appetite for grocery and convenience shopping.
The deets: the Mumbai-based supermarket chain operates 775 stores and plans to double that count in five years.
Its hybrid model—where stores double up as fulfillment hubs for Amazon Fresh—has boosted both margins and efficiency.
Why it matters: in FY25, More clocked ₹5,000 crore in gross sales, up 11% YoY, with same-store sales rising 23%.
The company is leaning deeper into e-grocery, with plans to open 500+ new stores across 160 cities in the next 18 months.
Zoom out: India’s e-grocery market has exploded, now worth $6–7 billion, with quick commerce driving nearly two-thirds of online grocery orders.
