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Anonymous

Hey I am on Medial • 1y

Next, once a major name in Indian electronics retail with over 200 stores nationwide, met an unfortunate demise due to excessive ambition and inability to evolve. The chain recklessly expanded, opening hundreds of new outlets without proper planning, racking up debts as high as ₹5,000 crore. Coupled with mismanagement and a failure to adapt to e-commerce giants like Amazon and Flipkart eating into their customer base with better pricing and convenience, this spelled disaster. Despite restructuring attempts, it was too late - the outdated brick-and-mortar model couldn't keep up. In 2023, Next filed for bankruptcy, leaving around 8,000 employees jobless - a tragic cautionary tale of a company failing to stay nimble and cater to evolving customer needs in India's cutthroat retail landscape.​​​​​​​​​​​​​​​​

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