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7/ The sub-₹1L segment will serve fleet and gig workers, but retail buyers have moved upmarket for good. Premium EVs aren’t a luxury niche; they are the new mass market. Brands still chasing "budget" are already playing yesterday's game. #EVIndia #Ola #Ather #TVS #Automotive
December 18, 2025 at 12:14 PM
7/ The sub-₹1L segment will serve fleet and gig workers, but retail buyers have moved upmarket for good. Premium EVs aren’t a luxury niche; they are the new mass market. Brands still chasing "budget" are already playing yesterday's game. #EVIndia #Ola #Ather #TVS #Automotive
6/ Why the "cheap EV" segment is failing: Race to the bottom on quality, Trust erosion (Ola's Goa service ban in Dec 2025 due to massive backlogs), and High-friction reliability (brake issues, battery drain, poor service)
December 18, 2025 at 12:14 PM
6/ Why the "cheap EV" segment is failing: Race to the bottom on quality, Trust erosion (Ola's Goa service ban in Dec 2025 due to massive backlogs), and High-friction reliability (brake issues, battery drain, poor service)
5/ Trust is the new currency. TVS and Bajaj (priced at ₹1.4-1.6L) now dominate. The TVS iQube captured 23% market share in Aug 2025 alone, while Bajaj's Chetak remains a top contender despite rare-earth magnet shortages.
December 18, 2025 at 12:14 PM
5/ Trust is the new currency. TVS and Bajaj (priced at ₹1.4-1.6L) now dominate. The TVS iQube captured 23% market share in Aug 2025 alone, while Bajaj's Chetak remains a top contender despite rare-earth magnet shortages.
4/ Ather Energy’s Tarun Mehta called the sub-₹1L space a “bloodbath with no reward.” He was right. Ather’s Rizta (priced above ₹1L) crossed 2 lakh sales in record time, with 70% of buyers upgrading straight from petrol Activas.
December 18, 2025 at 12:14 PM
4/ Ather Energy’s Tarun Mehta called the sub-₹1L space a “bloodbath with no reward.” He was right. Ather’s Rizta (priced above ₹1L) crossed 2 lakh sales in record time, with 70% of buyers upgrading straight from petrol Activas.
3/ The problem wasn’t price - it was positioning. Indian consumers see EVs as a tech upgrade, not a cost-saving chore. You don't replace your petrol scooter with a cheaper EV; you replace it with a better one.
December 18, 2025 at 12:14 PM
3/ The problem wasn’t price - it was positioning. Indian consumers see EVs as a tech upgrade, not a cost-saving chore. You don't replace your petrol scooter with a cheaper EV; you replace it with a better one.
2/ Ola Electric is the most dramatic example. After a "price-first" blitz, sales fell off a cliff. In Sept 2025, Ola sold just 13,374 units (down 46% YoY). By Dec, monthly volume hit a historic low of 2,833 units, crashing from No. 1 to No. 5.
December 18, 2025 at 12:14 PM
2/ Ola Electric is the most dramatic example. After a "price-first" blitz, sales fell off a cliff. In Sept 2025, Ola sold just 13,374 units (down 46% YoY). By Dec, monthly volume hit a historic low of 2,833 units, crashing from No. 1 to No. 5.
7/ The irony of 2025: While D2C and e-comm grab the headlines, the real money is being made in physical stores through ruthless cost engineering and mass repeat behavior. In the sub-₹499 war, volume is the only moat. #Retail #Zudio #Yousta #FastFashion #BusinessStrategy
December 17, 2025 at 10:00 AM
7/ The irony of 2025: While D2C and e-comm grab the headlines, the real money is being made in physical stores through ruthless cost engineering and mass repeat behavior. In the sub-₹499 war, volume is the only moat. #Retail #Zudio #Yousta #FastFashion #BusinessStrategy
6/ We’re seeing a structural shift: the "middle" (₹700-₹1,200 price bands) is collapsing. Premium brands will own the top 10%, while Zudio and Yousta will own the other 90%. Value fashion is effectively flattening the apparel pyramid.
December 17, 2025 at 10:00 AM
6/ We’re seeing a structural shift: the "middle" (₹700-₹1,200 price bands) is collapsing. Premium brands will own the top 10%, while Zudio and Yousta will own the other 90%. Value fashion is effectively flattening the apparel pyramid.
5/ The model is unforgiving. It only works if you have 50-60% gross margins and a supply chain that can refresh inventory every 15 days. Zudio uses Trent’s backend muscle; Yousta is plugging into the massive Jio Retail ecosystem.
December 17, 2025 at 10:00 AM
5/ The model is unforgiving. It only works if you have 50-60% gross margins and a supply chain that can refresh inventory every 15 days. Zudio uses Trent’s backend muscle; Yousta is plugging into the massive Jio Retail ecosystem.
4/ Why does this model work? Payback in 12-18 months. Mall developers now treat Zudio as an "anchor tenant" because it stabilizes footfall better than premium brands. It’s the "Walmart vs Target" battle, recreated in India at 1/10th the price.
December 17, 2025 at 10:00 AM
4/ Why does this model work? Payback in 12-18 months. Mall developers now treat Zudio as an "anchor tenant" because it stabilizes footfall better than premium brands. It’s the "Walmart vs Target" battle, recreated in India at 1/10th the price.
3/ Reliance is striking back with Yousta. While still at 100 stores, the strategy is classic Reliance: scale fast to kill competition. They’re targeting the same "sweet spot" of ₹249-₹499 where 300M+ value-conscious Indians shop.
December 17, 2025 at 10:00 AM
3/ Reliance is striking back with Yousta. While still at 100 stores, the strategy is classic Reliance: scale fast to kill competition. They’re targeting the same "sweet spot" of ₹249-₹499 where 300M+ value-conscious Indians shop.
2/ The numbers are staggering: Zudio’s Sales Per Square Foot (SPSF) is ₹14,000-₹18,000, nearly 3x that of premium department stores. With 12-15 inventory turns a year and 765+ stores, Zudio is an operational machine.
December 17, 2025 at 10:00 AM
2/ The numbers are staggering: Zudio’s Sales Per Square Foot (SPSF) is ₹14,000-₹18,000, nearly 3x that of premium department stores. With 12-15 inventory turns a year and 765+ stores, Zudio is an operational machine.
7/ The uncomfortable truth: This market doesn’t need another app. It needs someone with the financial stamina to outlive the chaos. Trevel matters not because it’s innovative, but because it is loaded and can afford to bleed where others simply tapped out. #Mobility #Trevel #RideHailing
December 16, 2025 at 10:32 AM
7/ The uncomfortable truth: This market doesn’t need another app. It needs someone with the financial stamina to outlive the chaos. Trevel matters not because it’s innovative, but because it is loaded and can afford to bleed where others simply tapped out. #Mobility #Trevel #RideHailing
6/ But owned fleets die without scale. Trevel faces a quiet underbelly of lean, pre-scheduled operators. Its entry threatens to bulldoze this entire layer with deep pockets and standardized service.
December 16, 2025 at 10:32 AM
6/ But owned fleets die without scale. Trevel faces a quiet underbelly of lean, pre-scheduled operators. Its entry threatens to bulldoze this entire layer with deep pockets and standardized service.
5/ The core difference is the Jindal Mindset: long-term, patient capital that doesn’t panic or chase vanity metrics. Ola and Uber are publicly judged; Rapido is privately efficient; Trevel is privately patient.
December 16, 2025 at 10:32 AM
5/ The core difference is the Jindal Mindset: long-term, patient capital that doesn’t panic or chase vanity metrics. Ola and Uber are publicly judged; Rapido is privately efficient; Trevel is privately patient.
4/ Why this model now? Because airport and corporate demand are the only segments where India actually pays. Predictable, large ticket sizes, and suffering from embarrassing service gaps from the duopoly. Trevel wants to own this pain point.
December 16, 2025 at 10:32 AM
4/ Why this model now? Because airport and corporate demand are the only segments where India actually pays. Predictable, large ticket sizes, and suffering from embarrassing service gaps from the duopoly. Trevel wants to own this pain point.
3/ The sector destroys companies. BluSmart burned ₹1,000 Cr trying to build a clean experience. Trevel is going the opposite way: adding weight (asset ownership) where Uber succeeded by shedding it (gig economy).
December 16, 2025 at 10:32 AM
3/ The sector destroys companies. BluSmart burned ₹1,000 Cr trying to build a clean experience. Trevel is going the opposite way: adding weight (asset ownership) where Uber succeeded by shedding it (gig economy).
2/ Trevel's pitch is simple and expensive: Owned fleet, salaried drivers, predictable service, transparent pricing. It's a throwback to the Meru era, but targeting only the profitable corner: Airport & Corporate rides.
December 16, 2025 at 10:32 AM
2/ Trevel's pitch is simple and expensive: Owned fleet, salaried drivers, predictable service, transparent pricing. It's a throwback to the Meru era, but targeting only the profitable corner: Airport & Corporate rides.
7/ The verdict: The era of easy equity in Indian fintech is over. Growth is no longer impressive unless it is sustainable. OneCard's debt raise is the perfect symbol for 2025: founders must respect gravity because capital can no longer outrun physics. #Fintech #OneCard #VentureDebt
December 15, 2025 at 10:57 AM
7/ The verdict: The era of easy equity in Indian fintech is over. Growth is no longer impressive unless it is sustainable. OneCard's debt raise is the perfect symbol for 2025: founders must respect gravity because capital can no longer outrun physics. #Fintech #OneCard #VentureDebt
6/ The contrast: Slice survived the 2022 RBI BNPL crackdown by acquiring a bank and rewiring the entire model faster than the regulator expected. OneCard is playing the slower, cleaner long game - tighten costs, fix systems, and wait for the storm to pass.
December 15, 2025 at 10:57 AM
6/ The contrast: Slice survived the 2022 RBI BNPL crackdown by acquiring a bank and rewiring the entire model faster than the regulator expected. OneCard is playing the slower, cleaner long game - tighten costs, fix systems, and wait for the storm to pass.
5/ The numbers still lack equity confidence. ₹1,865 Cr in expenses, with a massive 153% jump in "miscellaneous" expenses in one year. No serious investor buys the "close to profitability" narrative with a black hole of unexplained costs.
December 15, 2025 at 10:57 AM
5/ The numbers still lack equity confidence. ₹1,865 Cr in expenses, with a massive 153% jump in "miscellaneous" expenses in one year. No serious investor buys the "close to profitability" narrative with a black hole of unexplained costs.
4/ Debt buys time without humiliation. In a period of regulatory slowdown, equity investors would demand a valuation haircut. Debt avoids that; it signals that lenders (Alteria, writing back-to-back cheques) believe the RBI issue will resolve in 12-18 months.
December 15, 2025 at 10:57 AM
4/ Debt buys time without humiliation. In a period of regulatory slowdown, equity investors would demand a valuation haircut. Debt avoids that; it signals that lenders (Alteria, writing back-to-back cheques) believe the RBI issue will resolve in 12-18 months.