Publication

Consumer and retail dealtracker: Q3 2023

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Contents

Substantial rise in deal values amidst low volumes

India's retail and consumer sector saw a remarkable 491% increase in deal values, totalling USD 4.14 billion across 68 deals in Q3 2023. M&A activity included notable transactions like Walmart's USD 1.4 billion investment in Flipkart, Titan Co. Ltd's USD 0.56 billion acquisition of Caratlane, and Sheela Foam Limited's USD 0.25 billion purchase of Kurlon Enterprise Limited. PE/VC activity featured 52 deals worth USD 1.8 billion, reflecting a 200% growth in values despite a 49% decline in volumes.

Anticipated growth in rural markets, supported by favourable monsoon conditions and government spending, is expected to boost demand in the FMCG sector. Meanwhile, global brands are increasingly eyeing India's textile and apparel sector, driven by the expanding population and a growing middle class. Although apparel exports faced challenges, stabilisation is expected soon.

Read our Dealtracker, which covers the performance of the consumer sector in Q3, to gain a deeper understanding of the dynamic trends and opportunities in India's thriving retail & e-commerce industry.