Is discount retail in India killing vendors?

Published: Jan 31, 2015

Author: Amit Banka


Couple of months back, when the season of discount sales was in full swing, the news of unfair discounts by online retailers and squeezed vendor margins made headlines. There was much discontent, informal chatter and even accusations of unfair trade practice levied on online retailers. Even a major offline retailer entered the fray and expressed his discontent about high volume discounting by e-Commerce companies.

After reading all of this, I had a sense of déjà vu. This news took me back a few years, when many vendors had to declare bankruptcy owing to no business or lack of business. Vendors who had supplied to supermarket chains/offline retailers, formed a majority of those declaring bankruptcy.

In early-2000's when the mall culture made its entry in India, brands such as Big Bazaar, Reliance Retail, Food Bazaar, etc setup outlets across the length and breadth of the country. This gave rise to much consumerism, which in-turn fuelled demand, and needed more suppliers to fulfill the demand. Brands went out in search of vendors who could help satiate their growing appetite for products. Deals were struck, partnerships made and the bull-run started.

Seeing the success and disproportionate returns that early vendors got, a new rung of vendors entered the business -- who were ready to accommodate more demands of retailers. These new vendors supplied much of the same things that original vendors had agreed upon, but at a lower cost and lesser margins. It also resulted in significant increase of SKUs at the retailer level, and in-turn resulted in bad payment cycles by retailers.

Retailers were happy with these new vendors, they had tasted blood through them. Retailers realised they could pit new comers against the oldies. Original vendors protested, cried foul, but decided to play along because of the volumes these retailers gave them each month.

So discounting continued, margins got squeezed, new vendors entered the space, and retailers and customers were very happy. Retailers were not making money either, because they were spending dearly on customer acquisition, via schemes and discounts. When Big Bazaar had its first Republic Day sale, reports of them doing Rs 26 crore worth of sales in that three-day period made news. Since then Big Bazaar and other offline retailers have regularly created various occasions for sales to bring those spikes in business. Vendors sold bulk volumes, customers got heaped with discounts and it was a fantasy world -- while it lasted. Offline retailers were surviving on borrowed capital and expanding their business. Things continued pretty much the same way, until e-Commerce companies came along.

Somewhere in 2008, Big Bazaar crossed horns with Cadbury over sale margins, all their retail outlets stopped selling Cabdury products. The same issue cropped up with Kellogg’s in 2009, and Big Bazaar started exploring the option of having its own private label in breakfast cereals and other product categories. Sure enough, we saw new brands like Tasty Treat, Fresh n Pure in FMCG, John Miller, D&G, Bare etc in apparel and Sensei and Koryo in consumer durables being sold on Big Bazaar shelves.

0?e=2122128000&v=alpha&t=bQ3jrTB0UnpnqsTxWuZbN9u8oxCUvDqVsFTKNU7be8QBig Bazaar managed to convince manufacturers to setup capacities to supply these private labels at margins that was convenient to them. Names and packaging of these private label products was very similar to well-known MNC brands in the space. They were also placed on the same shelf as MNC brands. So it may not be wrong to assume that some customers mistook them to be MNC brands while shopping.

An estimated 12-15 such private labels were launched by Big Bazaar alone. Such private labels were also launched by Reliance Retail, More, Spencers and other offline retail stores. These private label manufacturers were those who got excited at the promise of helping create a captive market, by exploiting a food habit that MNC brands had built. Infrastructure was setup, investments made and there was a lot of optimism in the entire effort.

Nobody thought much about e-Commerce, which was a new beast making its entry second time round in India. It's initial outing had left too many people scarred and disgruntled. Investors were sceptical, customers were sceptical and it was a wait and watch scene. As Indians continued their weekly outings to malls and super-markets, the head honchos at big offline retailers were not too bothered. After all e-Commerce was not anything important, leave alone a threat.

Then 2008 happened, Lehman Brothers happened, Euro zone crisis happened, US was in trouble, and the entire world was in deep recession. India was among the few countries who ducked the trend. It was also the time, when starting-up culture was taking shape in our country. Some NRIs who returned home during this tough period thought it could be a good idea to start-up. A country such as ours has always presented umpteen opportunities for those who want to do business. Slowly but surely the startup fever spread, and investors who were looking at new investment opportunities turned to India.

e-Commerce became their early favourite investment avenue, and many e-Commerce ventures received foreign investments. Flipkart which launched in 2007, got investment from Tiger Global in 2010, and since then many foreign investors have invested large sums at regular intervals in the venture. Snapdeal launched in 2010, raised its first round of financing in 2011, and has constantly received many ‘shots’ in its arm overtime from Indian and foreign investors.

The money received from investors was mostly invested in marketing, brand building, to add more SKUs, private labels and nurture new vendors. Extensive ad campaigns lured customers to explore this whole new online world of discounts and great deals. As customers started taking notice, e-Commerce players realised they needed to bring more variety, brands, private labels and essentially stock more. So they took the same route as super markets did couple of years back -- went out in search of vendors, struck deals, made partnerships and the online bull-run thus started.

Companies are not worried, as long as investors continue to show faith and infuse fresh capital. Customers were always happy. But the first section of people to be effected by any change is the vendors. These vendors have also taken capital from the market to setup / increase capacities to meet the demand surge. Few vendors who are majorly dependent on one or two e-tailers have installed capacities, large infrastructure and done working capital investment to service the growing demand by online brands. So when a brand suddenly decides to squeeze its margins, the vendors have no choice but to agree in a hope that volumes will ultimately make up for the loss of margins.

As we have seen in the case of vendors who got into bed with super-markets and offline retailers, the honeymoon doesn't last too long. The first one to shut shop is the vendor – who is alone, has no foreign investor backing, and has stocked up too much in the hope of a better tomorrow. I hope things are better this time, the stress still exists as there is no organised equity or debt funding for these vendor groups. One can only hope that overtime, these offline/online retailers stand up for the entire value chain rather than purely looking at their own interests.

The thought therefore voiced in the news article is a valid one, how fair is it to other businesses (online/offline) and its vendors when online retailers squeeze sales margins? Why are online businesses so high-handed in its dealings? Should the government step in to protect the right of these small businessmen or let water find its own level?

I am not a great proponent of government intervention into trade practices, but surely better governance practices implemented at the grass root can do the entire industry a lot of good.

I am often asked what next from here? Is the e-Commerce journey over in India? How will investors get an exit? Can there be an IPO of Flipkart in India or any of its peer group? Will e-Commerce be further regulated? How many players can India accommodate? When is consolidation expected? What will happen to so many horizontals and verticals that have mushroomed over the last 3 years?

I wish I had a crystal ball. I am sure consolidation is not too far. Myntra’s acquisition by Flipkart, and Softbank’s entry in India are just some of the early indicators.


Posted In: Business Transformation

85 Comments:


Jackieamima

September 4 , 2020 - 8:06PM

<a href=https://okansarioglu.azworlds.info/d6ynqcZ62du7z7k/en-korkunc-granny-filmi-granny-gercek-hayat.html><img src="https://i.ytimg.com/vi/DvpsbBvwWmU/hqdefault.jpg"></a> EN KORKUNÇ <a href=https://okansarioglu.azworlds.info/d6ynqcZ62du7z7k/en-korkunc-granny-filmi-granny-gercek-hayat.html>GRANNY</a> FİLMİ Granny Gerçek Hayat

CarNug

September 5 , 2020 - 9:35AM

<a href=https://megaremont.pro/podolsk-restavratsiya-vann/emalirovka>Enameling पाइपलाइन के पोदोल्स्क में</a>

Darioten

September 9 , 2020 - 3:03AM

УКП-66 лучшая замена обычным домофонным трубкам

MSNYCBoiveli

September 9 , 2020 - 7:45AM

The cleaning firm executes cleansing of areas of various dimensions as well as configurations. The business's professionals provide cleansing with the assistance of modern technologies, have unique equipment, and likewise have accredited cleaning agents in their collection. In addition to the above advantages, red wines provide: beneficial prices; cleaning in a short time; premium quality outcomes; greater than 100 favorable evaluations. Cleansing offices will help maintain your office in order for the most effective work. Any kind of business is exceptionally important atmosphere in the group. Cleaning up solutions that can be gotten inexpensively now can assist to arrange it and also supply a comfy space for labor. If required, we leave cleansing the kitchen area 2-3 hours after positioning the order. You obtain cleaning up immediately. We provide expert <a href=https://maidservicenyc.pro/>maid service nyc</a> for personal clients. Utilizing European equipment and also certified devices, we achieve optimal outcomes and also provide cleansing quickly. We offer discount rates for those who utilize the service for the very first time, in addition to beneficial regards to cooperation for normal clients. Our pleasant group offers you to get accustomed with beneficial terms of cooperation for company clients. We responsibly approach our activities, clean using specialist cleaning products and specific tools. Our staff members are trained, have clinical books and also recognize with the nuances of eliminating facility as well as hard-to-remove dirt from surfaces. We offer high-quality cleansing for big business and also tiny companies of numerous instructions, with a price cut of up to 25%.

best cialis online

September 2 , 2020 - 1:27PM

Acheter Viagra 50 cliliequilia https://asocialiser.com/ - Cialis boiveavaix Baclofene Cigarette daygiece <a href=https://asocialiser.com/#>buy cialis professional</a> ledeCoap cialis and levitra viagra

barhjoomj20

September 2 , 2020 - 6:56PM

Круто, давно искал _________________ <a href="https://rucasino.onlinerealtopmoneygames.xyz/internet-kazino-ukrainy-na-grivny/">Интернет казино украины на гривны</a>

mkrittpx

June 13 , 2020 - 8:28AM

http://viagaraget.com/ generic viagra viagra 200mg <a href=http://viagaraget.com/>generic viagra coupon</a> viagra coupons card

rrcaqgdb

July 18 , 2020 - 12:51PM

generic viagra from us pharmacy <a href=http://generviagara.com/>cheapest generic viagra</a> viagra pills

isunblcr

July 24 , 2020 - 3:48AM

buy viagra pills <a href=http://generviagara.com/>viagra for men</a> viagra order

RandyFum

September 5 , 2019 - 2:10AM

If you’re upset about your weight and want to lose a little more, get this… An overweight mother with pre-diabetes has just SHOCKED the medical community by losing an unheard of 22lbs pounds in just 13 days… ....Without starving herself, she lost a total of 37lbs in the first month! <a href=http://webbyt.co/weightloss>-> CLICK HERE to see her Transformation Pics!</a> ...Even without exercising, she went on to burn off 84lbs (almost a pound a day) and eliminated any sign of diabetes or any other life-ending diseases. And the amazing thing is… All she did was this D.I.Y. “carb-pairing” trick that reconditions your 3 female weight-loss hormones to drastically accelerate fat-burning while still eating the foods you love. Check it out for yourself… <a href=http://webbyt.co/weightloss>“Carb-Pairing” Melts Away 37 Pounds in Just 20 Days (WOMEN ONLY)</a> Enjoy!

zecmownlr

June 1 , 2020 - 3:05PM

ikawe all natural viagra <a href=http://viagaraget.com/#>viagra purchase</a> sildenafil pneumologia

MalTap

September 11 , 2020 - 6:54PM

<a href=https://megaremont.pro/domodedovo-restavratsiya-vann>में स्नान की बहाली के आदेश के लिए</a>

MSNYCBoiveli

September 12 , 2020 - 12:42AM

The cleansing company performs cleansing of spaces of numerous dimensions and arrangements. The firm's specialists supply cleaning up with the help of contemporary technologies, have special tools, and additionally have certified detergents in their arsenal. In addition to the above advantages, glass of wines provide: desirable rates; cleansing quickly; high quality results; more than 100 positive reviews. Cleaning up offices will help maintain your office in order for the most productive work. Any company is exceptionally important environment in the group. Cleaning up services that can be purchased inexpensively now can aid to organize it as well as offer a comfortable area for labor. If needed, we leave cleaning up the cooking area 2-3 hours after placing the order. You obtain cleaning up as soon as possible. We offer specialist <a href=https://maidservicenyc.pro/>maid service</a> for private customers. Using European equipment and also accredited tools, we accomplish maximum results and also give cleansing in a short time. We offer price cuts for those who make use of the service for the very first time, as well as desirable regards to cooperation for regular consumers. Our friendly group supplies you to obtain acquainted with beneficial terms of collaboration for corporate clients. We properly approach our tasks, tidy utilizing specialist cleaning items as well as specialized equipment. Our staff members are educated, have clinical books and also recognize with the subtleties of eliminating facility and hard-to-remove dirt from surface areas. We provide high-grade cleaning for huge enterprises as well as tiny companies of various directions, with a discount rate of up to 25%.

infoforwomen.be

September 12 , 2020 - 4:33PM

Wow, awesome blog structure! How long have you been blogging for? you made running a blog look easy. The full glance of your web site is great, as neatly as the content! umte.infoforwomen.be/map18.php tandrensning hund pris

rasskozia

September 13 , 2020 - 11:41PM

Когда я была маленькой, очень любила животных. С трудом могу перечислить принесённых с улицы домой раненых и голодных зверят. Котята, щенки, голуби, ящерки — их было несметное множество. Конечно, мои родители не были в восторге от таких частых визитов в наш дом блохастых и кусачих питомцев, но надо отдать им должное, ибо выгонять моих «пациентов» мама и папа не смели. Моим любимцем был котенок Пушок, который попал ко мне из-за того, что его сильно расцарапали бродячие коты. Видимо, он пытался драться с ними за еду, а может, и территорию. Только куда ему маленькому и хиленькому? Я добросовестно отпаивала Пушка молоком и отдавала ему все лакомые кусочки с нашего стола. Спустя некоторые время, мой котик стал походить на бандита из фильмов: весь в затянувшихся шрамах и очень упитанный. На семейном совете было принято решение отпустить Пушка на волю, так я и сделала. Источник - https://1001rasskaz.ru/ <a href=https://1001rasskaz.ru/>https://1001rasskaz.ru/</a>

ecoric

September 15 , 2020 - 7:56PM

<b><a href=https://eco-corporation.ru>Автономная канализация для дачи</a></b> Всем известно, что профессионализм - это сегодня наиболее важное Дабы не ошибиться с выбором, рекомендуется учитывать характеристики самого дачи (либо коттеджа), габариты участка земли. Для вас мы предлагаем высококлассные сервис по монтажу автономной канализации под ключ, владеем исключительной методикой и частным подходом к работе. Высококачественное сопровождение Максимальное внимание к клиенту

Raymondbup

September 22 , 2020 - 8:44PM

balika vadhu 15 october 2012 written episode connectify me full version free download for windows 8 <a href=http://nokimimedasu49.4khdcamera.com/2198.html>embodied </a> yeh dil ashiqana film mp3 songs free download aaj kal paon zameen par nahin padte mere movie name <a href=http://poshiisanki72.inoxdvr.com/131.html>unchewable </a> a plus drama love life aur lahore last episode dailymotion microsoft press access 2007 inside out free download <a href=http://yuzugokirido49.4khdcamera.com/755.html>unchained </a> hawaii five-0 season 3 episode 11 download suno gaur se duniya walo mp3 movie name <a href=http://narashiaoku29.inoxdvr.com>http://narashiaoku29.inoxdvr.com</a> <a href=http://makairebaki28.inoxdvr.com>http://makairebaki28.inoxdvr.com</a> <a href=http://puhonmashiki78.inoxdvr.com>http://puhonmashiki78.inoxdvr.com</a> <a href=http://ruihingeki76.4khdcamera.com>http://ruihingeki76.4khdcamera.com</a> <a href=http://pangoyomire44.inoxdvr.com>http://pangoyomire44.inoxdvr.com</a> the good wife season 4 episode 14 review mar deb goli kehu na boli bhojpuri film song

KillbillSem

September 23 , 2020 - 10:16PM

Коронавирус или как скрыть последствия мирового экономического кризиса и попытку загнать в рабство!: Как сообщает BBC и экономист Мохамед эль-Эриан: "из-за "коронавируса" в самое ближайшее время мир столкнется с экономическими проблемами, которые будут серьезнее и масштабнее всего того, что когда-либо переживало большинство населения развитых стран". Вернее сказать, не коронавирус вызовет данные экономические сложности, а попросту он их “скроет” (так как назревали они давно) и народ поверит, что его счета заблокируются в пользу борьбы с простой типичной пневмонией, и сам может поддаться в “цифровое рабство”, введенное мировым правительством. Могут ввести такие неприятные вещи: - запрет кэша - “чипирование” и отслеживание через банковские карты - принудительное обнуление банковских счетов - введение принудительной вакцинации под прикрытием борьбы с вирусом - вакцинация может быть чипизацией народа с целью управления, как в концлагерях Мы убедительно призываем Вас не паниковать и соблюдать все меры предосторожности. Спец-операция “Коронавирус” – операция по внедрению паники и страха населению с целью деления мировых ресурсов, введению концлагерей и цифрового рабства мировым правительством. Как Вы видите, выиграть в лотерею вероятность значительно больше, чем заболеть каким бы то ни было вирусом. В такое неспокойное время важно быть финансово независимым. Мы лишь можем предложить один из вариантов быстрого прироста капитала. Не забывайте: <a href=https://agentlotto.org>Инструкция: готовимся к выигрышу в MegaMillions! Джекпот растет - растут и шансы участников!</a> Ну, а как правильно распорядиться деньгами в столь неспокойное для мира время, я думаю, Вы догадываетесь !?

HarryTum

September 24 , 2020 - 7:13AM

CBI Guide brings you detailed analysis of all of the CBI opportunities so that you can make an informed decision regarding your second passport or golden visa opportunity <a href=https://cbiguide.com>citizenship by investment</a> <a href=https://cbiguide.com>citizenship by investment</a> <a href=https://cbiguide.com>citizenship by investment</a> <a href=https://cbiguide.com>citizenship by investment</a> <a href=https://cbiguide.com>citizenship by investment</a>

Ronaldkem

September 24 , 2020 - 10:30PM

Hello! Winsome article. I be subjected to made some gratify with same problem. Here's a my nice article there <a href=https://eremolanzara.eu/44838-platekompaniet-troms-ducifix.php>platekompaniet jessheim</a> By I not remark on blogs but your article is so convincing that I on no account stop myself to claim something alongside it. You’re doing a superior area Man,Nourish it up.

Raymondbup

September 25 , 2020 - 2:34PM

disney jump in full movie online free the blacklist season 2 episode 22 vodlocker <a href=http://pochisakuzei40.4khdcamera.com/674.html>crosshatched </a> prince of tennis u17 world cup episodes latest hindi movies 2015 watch online free <a href=http://emagiragoni13.4khdcamera.com/1134.html>selfacting </a> plot summary of the dark knight rises american horror story series 2 episode 1 cast <a href=http://keshinjirori40.4khdcamera.com/2370.html>endoparasitic </a> chuggaaconroy paper mario the thousand year door chapter 8 episode 3 watch live adults tv channels free for mobile <a href=http://dzumatsushirin41.4khdcamera.com>http://dzumatsushirin41.4khdcamera.com</a> <a href=http://maseinoshima31.4khdcamera.com>http://maseinoshima31.4khdcamera.com</a> <a href=http://yazenchikuda41.inoxdvr.com>http://yazenchikuda41.inoxdvr.com</a> <a href=http://ratankion77.inoxdvr.com>http://ratankion77.inoxdvr.com</a> <a href=http://mibinetsuruyu48.4khdcamera.com>http://mibinetsuruyu48.4khdcamera.com</a> jock of the bushveld dvd south africa an idiot abroad 2 dvd release date

JosephEdipt

September 26 , 2020 - 12:17PM

Loans are taken and processed tiny financial companies to global banks. These banks tend to allow funds for countries. This leads to an expand in funds as well as an expand in advantage through proper money management. The process of getting a loan should be understood before applying for a loan. https://www.nairaland.com/6117681/tips-how-manage-credits-during

Richmax

September 26 , 2020 - 2:36PM

Доброго времени суток businessdoctors.in В этой статье <a href=https://obzoroff.shop/richpush/>отзыв Richpush</a> я подробно хочу рассказать как меня кинули на 880 долларов. Сеть пуш трафика обманным путём получает деньги с вебмастеров <a href=https://obzoroff.shop/richpush/>отзыв Richpush</a> и поставляет им некачественный трафик с 84694 дорвеев Эта тема обсуждается и на других сайтах и форумах <a href=https://cibitung.bekasikab.go.id/berita-soto-betawi-h-husein.html>Отзыв о Richpush обман вебмастера на 938 долларов</a> 6ea566a Желаю Вам не попасться на эту авантюру!

Kathryn

October 6 , 2020 - 1:22AM

viagra without a doctor prescription usa online pharmacy viagra buy generic 100mg viagra online

BruceCoify

October 10 , 2020 - 3:28PM

Ваш девайс ничем не отличается посреди других? Это возможно выправить с поддержкой особых аксессуаров. В нашем интернет шоуруме ради вас подыщут престижные, прекрасные чехлы чтобы телефонных аппаратов в Украине. <a href=https://onecase.com.ua> чехлы для смартфонов</a>

Arron

October 10 , 2020 - 7:59PM

canadian pharmacy generic viagra buy generic viagra online buy generic viagra online

munhea.se

October 12 , 2020 - 11:35PM

Excellent web site. Lots of useful info here. I'm sending it to some buddies ans additionally sharing in delicious. And certainly, thank you on your sweat! plate.munhea.se/map4.php georg jensen outlet online

dehllap.se

October 13 , 2020 - 5:25PM

Every weekend i used to pay a quick visit this website, because i want enjoyment, for the reason that this this web site conations genuinely nice funny material too. dehllap.se/map26.php fakta om järn

squgarik.se

October 14 , 2020 - 11:49PM

What's Happening i am new to this, I stumbled upon this I have found It positively useful and it has aided me out loads. I am hoping to contribute & aid other customers like its aided me. Good job. squgarik.se/map16.php goda sallader göteborg

probduo.se

October 15 , 2020 - 8:41AM

You really make it seem so easy with your presentation but I find this matter to be actually something that I think I would never understand. It seems too complex and very broad for me. I am looking forward for your next post, I will try to get the hang of it! probduo.se/map11.php valio laktosfri kvarg

egluopu.se

October 16 , 2020 - 9:20AM

It's amazing for me to have a web site, which is valuable for my know-how. thanks admin egluopu.se/map39.php skæleksem i ansigtet

aperca.se

October 17 , 2020 - 12:31AM

I loved as much as you'll receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get got an impatience over that you wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you shield this hike. chrys.aperca.se/map12.php fakta om palmolja

sasilu.se

October 17 , 2020 - 3:40AM

I'm really enjoying the theme/design of your web site. Do you ever run into any web browser compatibility problems? A handful of my blog audience have complained about my site not working correctly in Explorer but looks great in Firefox. Do you have any solutions to help fix this problem? sasilu.se/map33.php bredband via elnätet

Timothytup

October 18 , 2020 - 4:52AM

icarly imove out part 1 full episode <a href=http://abunteruga53.sieraddns.com>http://noseijinge61.inoxdvr.com</a> watch dbsk come to play eng sub my babysitter's a vampire season 1 episode 10 project free tv http://kohebibisusu12.vitekivpddns.com http://meatosugaku70.4khdcamera.com http://pokakakudose53.vitekivpddns.com http://dainrokobu57.vitekivpddns.com http://misukokushika21.vitekivpddns.com download soundtrack ice age 4 we are family the road cormac mccarthy pdf download free

benmmdi.se

October 18 , 2020 - 8:37PM

magnificent submit, very informative. I ponder why the opposite specialists of this sector do not notice this. You must proceed your writing. I am confident, you have a huge readers' base already! benmmdi.se/map23.php smärta i magen under naveln

oratrg.se

October 19 , 2020 - 4:29PM

I all the time used to study piece of writing in news papers but now as I am a user of web so from now I am using net for articles, thanks to web. oratrg.se/map10.php kliar i tänderna vid förkylning

otertbe.se

October 21 , 2020 - 7:40AM

Thanks for some other informative site. The place else could I am getting that type of info written in such a perfect manner? I've a mission that I'm simply now operating on, and I have been on the glance out for such information. otertbe.se/map36.php hawaiian tropic olja

aperca.se

October 22 , 2020 - 12:21PM

I have read so many posts regarding the blogger lovers however this article is actually a nice article, keep it up. tread.aperca.se/map3.php oljebyte fiat husbil

RodneyGlync

October 25 , 2020 - 1:35AM

Этот метод считается более всераспространенным между онлайн юзеров, впрочем не всякий раз отменно избирает оптимальную ссылку или же зеркало. Шлюз сам обусловит подходящий метод для перехода на официальный вебсайт гидра и перенаправит юзера механически на наименее загруженный сервер. <a href=https://hydra-official-website.com> Hydra сайт</a> <a href=https://hydra-website.ru> Гидра сайт</a>

FloydJic

October 25 , 2020 - 6:38AM

Продажа котят породы мейн кун. Питомник Мейн кун в Санкт-Петербурге. Доступные цены. Элиные производители <a href=http://caryhttp://cary-star.ru/star.ru/producthttp://cary-star.ru/category/mainehttp://cary-star.ru/coonhttp://cary-star.ru/kittens/>котята мейн кун купить</a> <a href=http://cary-star.ru/>мейн кун купить в новосибирске</a> <a href=http://cary-star.ru/>куплю мейн куна</a> <a href=http://cary-star.ru/>купить котенка мейн куна на авито</a> <a href=https://caryhttp://cary-star.ru/star.ru/tag/%D0%BA%D1%83%D0%BF%D0%B8%D1%82%D1%8Chttp://cary-star.ru/%D0%BC%D0%B5%D0%B9%D0%BDhttp://cary-star.ru/%D0%BA%D1%83%D0%BD/>мейн кун купить цена</a> <a href=http://caryhttp://cary-star.ru/star.ru/classic/>сколько стоит котенок породы мейн кун</a> <a href=http://caryhttp://cary-star.ru/star.ru/producthttp://cary-star.ru/category/mainehttp://cary-star.ru/coonhttp://cary-star.ru/kittens/>кошки мейн кун купить</a> <a href=http://cary-star.ru/>мейн кун купить в самаре</a> <a href=http://caryhttp://cary-star.ru/star.ru/>фото кошек мейн кун</a> <a href=http://caryhttp://cary-star.ru/star.ru/producthttp://cary-star.ru/category/mainehttp://cary-star.ru/coonhttp://cary-star.ru/kittens/>котята мейн кун</a> https://yandex.ru/maps/2/saint-petersburg/?ll=30.315635%2C59.938951&mode=search&oid=1420812562&ol=biz&sll=30.315635%2C59.938951&sspn=0.986023%2C0.282177&text=питомник%20мейн%20кун&z=11

munhea.se

October 26 , 2020 - 12:15AM

My partner and I stumbled over here coming from a different website and thought I might as well check things out. I like what I see so i am just following you. Look forward to finding out about your web page repeatedly. flict.munhea.se/map6.php veckorevyn box of beauty

aperca.se

October 28 , 2020 - 2:53AM

Great post. I used to be checking continuously this weblog and I'm inspired! Very useful information specially the ultimate section :) I maintain such info much. I was looking for this certain info for a long time. Thank you and best of luck. linkm.aperca.se/map6.php nocco bcaa dryck

Charlesflorn

October 28 , 2020 - 3:25AM

Познания, какие вам никак не отыщете в горизонтах козни интернет, таким образом равно наподобие они закодированы/ заархивированы во клеточках вашего рассудки. <a href=http://akademiya-centr-sveta.ru>Золотой Геном</a> С носителя ко носителю данные познания переходят с через активации Первоначальной клеточки памяти, с через телепатической коммуникации также инициаций. Данное ваша Первичная клеточка памяти водит вам ко синхронизации со ней, для того чтобы повернуть новейшую жизнедеятельность, переключиться тама, в каком месте вам вдосталь рады. Бросьте корректировать совершенно без исключения в таком случае, то который вам никак не удовлетворяет во существования. Возьмите совершенно без исключения со симпатией также переключаетесь. Вам ожидает вдосталь новейшая жизнедеятельность, абсолютная магии во активном Наличии Помощи, Влюбленности также опеки об Вам Верховными Мощностями.

MuscularPornMan

October 28 , 2020 - 9:53AM

Hello! Everyone is watching porn! And I am one of them. I like to tend 5 men rape one girl. I fondness how they cum on the features and surrender a thrilling blowjob. As they indicate their ass and move a colleague between the breasts. All this excites me greatly and my friend in his pants constantly asks with a view advanced content. I lend thither 10 hours of relieve lifetime per day. I examine and masturbate regularly! Enable to rent out's split where anyone is watching porn! Pornhub, xhamster and others are popular. Let's piece less all the rage links and alleviate them develop: <a href=https://pornodep.com/>Videos porno</a>

munhea.se

October 28 , 2020 - 5:11PM

Pretty element of content. I simply stumbled upon your web site and in accession capital to assert that I get actually enjoyed account your weblog posts. Anyway I will be subscribing in your feeds or even I achievement you access constantly fast. viesu.munhea.se/map2.php arganolja till ansiktet

munhea.se

October 30 , 2020 - 6:15AM

You are so awesome! I don't suppose I've read through anything like that before. So great to find somebody with a few unique thoughts on this subject matter. Really.. many thanks for starting this up. This web site is one thing that is required on the web, someone with some originality! geni.munhea.se/map3.php oxyal care gel

DannyHilia

October 30 , 2020 - 9:09AM

В случае еслиЕсли Вы желаете приобрести дешевую корпусную меблировка в СПБ, Вы попали по адресу. Наш интернет-магазин корпусной мебели приглашает высококачественную меблировка на заявка по доступной стоимости. Корпусная меблировка на заявка сейчас очень востребована спасибо способности делать личный дизайн, а еще спасибо низкой цены. <a href=https://mebelmixspb.ru/g28116150-vitriny-dlya-gostinoj> витрины для гостиной</a> <a href=https://mebelmixspb.ru/g28116214-shkafy-kupe> шкафы купе</a>

RickeyRof

October 30 , 2020 - 9:47AM

Самый популярный поиск клубнички в рунете, вы можете найти видео в высоком качестве на любой вкус, от молоденьких до пожилых девочек! Самое качественное проно в интернете на сайте который указан ниже! <a href=https://hqporno.ru> скачать порно</a> <a href=https://hqporno.ru/new.php>Новая HD порно видео бесплатно</a> <a href=https://hqporno.ru/top.php>популярные HD секс видео</a>

JamesFroth

October 30 , 2020 - 12:19PM

ana y los siete series yonkis primera temporada ek kasak si reh gayi episode 8 sung joon dalam drama lie to me <a href=http://keireneno73.inoxdvr.com>nonmiscible </a> soldiers heroes of world war ii demo free download need for speed undercover part 1 download avi to 3gp video converter software free download full version http://tochitaitara46.vitekivpddns.com breaking bad season 5 episode 9 subtitles demand bay terrace movie theatre bayside new york aladdin animated movie in hindi free download

ThomasFrete

November 3 , 2020 - 9:29AM

us news health, us news health rankings, us news health report, us news healthiest communities, us news healthcare rankings, us news healthcare, us news health informatics rankings, us news health by Ruben Castaneda , us news health how technology helps patients <a href=https://usafreearticles.com/index.php/category/health-news> us news health, us news health rankings, us news health report, us news healthiest communities, us news healthcare rankings, us news healthcare, us news health informatics rankings, us news health by Ruben Castaneda , us news health how technology helps patients</a>

munhea.se

November 3 , 2020 - 8:17PM

My family members every time say that I am wasting my time here at net, however I know I am getting knowledge all the time by reading such pleasant articles or reviews. nistm.munhea.se/map11.php scandic norra bantorget spa

MichealSorgo

November 4 , 2020 - 8:47AM

Вы сможете быть уверенны в том, собственно что наши переборки прослужат Чтобы вас весь этап эксплуатации, ввиду того собственно который вся наша продукция сертифицирована. Мы гарантируем ради вас добротность! <a href=https://megawall.ru>перегородки в офис</a>

Detmax

November 5 , 2020 - 3:03AM

Detonic указания за употреба <a href=https://bpseafight.eoldal.hu/cikkek/nyitooldal/forum.html#block-comments>Detonic композиция bpseafight.eoldal.hu</a> 66a9827 https://medicamento.space/hypertension/detonic-ένδειξη-για-χρήση/

munhea.se

November 5 , 2020 - 2:30PM

Thankfulness to my father who shared with me about this blog, this website is truly amazing. unex.munhea.se/map2.php proteintillskott utan sötningsmedel

KmrfMOicE

November 6 , 2020 - 1:05PM

cost of generic viagra at walmart http://usggrxmed.com/ <a href="http://usggrxmed.com/#">generic form of viagra</a> how to get viagra online

Juliebup

November 6 , 2020 - 1:16PM

Free porn videos in the millions at teenbabefucked.com the largest free porn tube in the world . Sex videos in HD, 4K on desktop or mobile. VR porn videos available . <a href=https://teenbabefucked.com>porn</a> <a href=https://teenbabefucked.com/?s=teen>teen porn</a> <a href=https://teenbabefucked.com/?s=anal>anal</a> <a href=https://teenbabefucked.com/?s=stepsister>stepsister</a> <a href=https://teenbabefucked.com/?s=german>german</a> <a href=https://teenbabefucked.com/online-girls/>sex chat</a>

abeeysi.se

November 8 , 2020 - 4:00AM

I have read so many articles on the topic of the blogger lovers but this piece of writing is actually a good post, keep it up. http://troca.abeeysi.se/decorations/creme-mod-strkmrker.php creme mod strækmærker

JildcMOicE

November 8 , 2020 - 6:34AM

buy viagra online canada http://fmedrx.com/ <a href="http://fmedrx.com/#">viagra online usa</a> buy viagra online usa

Angeloprult

November 8 , 2020 - 11:22PM

Деятельность с целью женщин В Случае Если вам занимает деятельность с целью женщин, в то время свой веб-сайт способен быть с целью вам хорошим заключением. Я презентуем собою обслуживание согласно розыску службу с целью женщин также трудимся ранее во протяжение продолжительного этапа периода. <a href=https://jobgirl24.ru/>работа для девушек краснодар</a> <a href=https://jobgirl24.ru/>работа девушкам отзывы</a>

svetlianFlern

November 9 , 2020 - 5:04AM

<a href=https://vylkann.ru><b>A dating site where everything is allowed!</b></a>

Jerryglobe

November 9 , 2020 - 6:53AM

<a href=https://sauna-v-ufe.ru/>сауна уфа цены</a> <a href=https://sauna-v-ufe.ru/>сауна уфа черниковка</a>

AllanTaw

November 9 , 2020 - 8:44AM

Здравствуйте! Нашел интересную фотоподборку на этом сайте: http://wozap.ru : <a href=http://wozap.ru/gifki-gif-gif-animacii/>прикольные анимации</a> доброе утро гиф Странные, необычные, нестандартные и забавные автомобили http://wozap.ru/interesnoe/9546-strannye-neobychnye-nestandartnye-i-zabavnye-avtomobili.html Страна, которой больше нет <a href=http://wozap.ru/interesnoe/12222-strana-kotoroy-bolshe-net.html> Страна, которой больше нет </a> http://wozap.ru/foto-prikoly-interesnoe/3517-novoe-videnie-staryh-brendov.html

JeffreySic

November 9 , 2020 - 10:46AM

Product Overview. AIMP is a lightweight but powerful music player with all the features you need to play almost every audio format available. The application is filled with useful features and functionality in a surprisingly small package with a minimal View More http:///manmast.com/dir https://georgantzi.gr/wp

bracen.se

November 12 , 2020 - 6:34AM

Hi there friends, its impressive piece of writing about educationand fully defined, keep it up all the time. http://fulli.bracen.se/decorations/vad-vaeger-1-dl-mjoel.php vad väger 1 dl mjöl

JeffreySic

November 13 , 2020 - 5:31AM

Whether your project involves adding layers, introducing text, or using filters and effects to get the look you're going for, you'll find what you need in this program. There are more options in all of these categories than you'll probably ever use, giving you the ability to create just about anything you could imagine. https://tyrefuelpromo.co.uk/web https://loverlovertoys.com/wp

bacboo.se

November 13 , 2020 - 6:37AM

whoah this weblog is wonderful i like reading your posts. Stay up the good work! You understand, lots of individuals are searching around for this information, you can help them greatly. http://lesmi.bacboo.se/useful-tips/push-up-bh-med-gel.php push up bh med gel

RonnieSoara

November 13 , 2020 - 5:51PM

Краснодарский инструментальный завод <a href=https://ksiz.ru/>Производство и продажа измерительного оборудования</a> <a href=https://www.ksiz.ru/catalog/kalibry-neftyanye-gost>калибры нефтяного сортамента</a>

domosquess

November 13 , 2020 - 10:12PM

https://is.gd/IMbXDB

Williamasync

November 15 , 2020 - 8:43PM

В жизни всякого человека случается обстановка, когда потребуются вспомогательные средства. К огорчению денежных ресурсов практически всякий раз не хватает, и что есть первопричина: как правило, подъем наших прибылей, увеличивается значительно медлительнее цены нашей жизни. http://ndflpro.ru/ipoteka-2-ndfl/ http://ndflpro.ru/2-ndfl-dlya-ipoteki-v-moskve/ http://ndflpro.ru/2-ndfl/ http://ndflpro.ru/ndfl-3/

JeffreySic

November 16 , 2020 - 4:52AM

Product Overview. AIMP is a lightweight but powerful music player with all the features you need to play almost every audio format available. The application is filled with useful features and functionality in a surprisingly small package with a minimal View More https://en.taacgroup.com/ https://alquran-alkareem.com/web

GeorgeAlert

November 16 , 2020 - 7:10AM

Привет всем участникам! Класный у вас сайт! Что думаете по этим новостям?: Криптовалютная биржа OKex пытается выйти на фондовый рынок через поглощение http://itcyber.ru/19043-kriptovalyutnaya-birzha-okex-pytaetsya-vyyti-na-fondovyy-rynok-cherez-pogloschenie.html http://itcyber.ru/21614-plagin-dlya-wordpress-pozvolyaet-stavit-metku-vremeni-v-blokcheyne-efiriuma.html мир компьютерных игр http://itcyber.ru/games/ <a href=http://itcyber.ru/information-technology-it/>информационные технологии технические</a> об информации информационных технологиях и защите информации Ещё много всего нашел тут: <b> новости биткоин криптовалюты </b> <a href=http://itcyber.ru/> новости майнинга криптовалют </a>

FevbMOicE

November 16 , 2020 - 10:02AM

viagra sydney <a href="https://wowviaprice.com/#">https://wowviaprice.com</a> free generic viagra samples

Michaeltutty

November 16 , 2020 - 9:28PM

Привет всем! Класный у вас сайт! Что думаете по этим новостям?: Видео по рубрикам можно найти в одном месте http://enewz.ru/24774-video-po-rubrikam-mozhno-nayti-v-odnom-meste.html http://enewz.ru/37759-voennaya-aviaciya-podklyuchilas-k-bitve-s-koronavirusom.html <a href=http://enewz.ru/energetika/>новости энергетики казахстана</a> новости альтернативной энергетики ютуб последние новости видео http://enewz.ru/video/ Ещё много интересного нашел тут: <b> новости энергетики России </b> http://enewz.ru/

Jivhelita

November 16 , 2020 - 11:05PM

viagra pepcid <a href="https://purevigra.com/#">viagra post ejaculation</a> wholesale cost of viagra

Kmrfprek

November 17 , 2020 - 1:27AM

viagra profits 2011 <a href="https://purevigra.com/#">https://purevigra.com</a> viagra drug interaction

FhsbMOicE

November 17 , 2020 - 7:33AM

viagra subscribe <a href="https://buybuyviamen.com/#">https://buybuyviamen.com</a> viagra use in females

Jarvisecope

November 17 , 2020 - 5:56PM

смотреть новое порно каждый день в hd качестве! Полный доступ к <a href=http://hdbisex.ru/>онлайн секс</a> архиву отборной порнухи. Блондинки и брюнетки не будут разочаровывать, а наоборот, возбуждать и доставлять массу позитива от бесплатного онлайн просмотра. Лучшее <a href=http://hdbisex.ru/>порно hd</a> - страсть, наслаждение ждет тебя онлайн бесплатно!

OCChristopher

November 17 , 2020 - 8:31PM

Good afternoon!I want to tell my family i love gays. How to treat me? Can you imagine how damn fun it is? I do a blowjob sometimes. my brother put me here:<a href=http://gay0day.com>This is not an advertisement. This is my sin </a> <b> This is not an advertisement. This is my calling in life</b>

FrbhToors

November 18 , 2020 - 12:47AM

viagra india online <a href="https://paradiseviagira.com/#">https://paradiseviagira.com/</a> viagra geniric

cabdtin.se

November 18 , 2020 - 6:42PM

If you wish for to improve your experience just keep visiting this web page and be updated with the hottest news posted here. http://tiese.cabdtin.se/news/filippa-k-parka-coat.php filippa k parka coat

JamesProrm

November 18 , 2020 - 9:53PM

Привет! интересный у вас сайт! Нашел прикольную базу кино: <b> смотреть фильмы онлайн в хорошем 2020 новинки </b> <a href=http://kinoserialtv.net/>http://kinoserialtv.net/</a> Здесь: <a href=http://kinoserialtv.net/vestern/>вестерны лучшие смотреть</a> фильмы онлайн вестерны лучшие рейтинг 2020 Тут: кино фантастика 2020 бесплатно в хорошем http://kinoserialtv.net/fantastika/ список 2020 Здесь: София Коппола отказалась от «Русалочки» http://kinoserialtv.net/8292-sofiya-koppola-otkazalas-ot-rusalochki.html Тут: Том Хэнкс может получить роль в «Пиноккио» <a href=http://kinoserialtv.net/15260-tom-henks-mozhet-poluchit-rol-v-pinokkio.html> Том Хэнкс может получить роль в «Пиноккио» </a>

bacboo.se

November 19 , 2020 - 12:27AM

Appreciating the time and effort you put into your website and detailed information you present. It's nice to come across a blog every once in a while that isn't the same outdated rehashed information. Excellent read! I've saved your site and I'm adding your RSS feeds to my Google account. http://coamor.bacboo.se/travels/pizza-bakpulver-lngpanna.php pizza bakpulver lГҐngpanna

FbsgMOicE

November 19 , 2020 - 4:03AM

generic online viagra reviews <a href="https://buybuyviamen.com/#">does hobby lobby insurance cover viagra</a> viagra chronic headache

DannyTyday

November 19 , 2020 - 6:58PM

Приветствую! Нашел интересные фотоподборки на этом сайте: http://himaan.ru : ночь анимации http://himaan.ru/gifki-gif-animacii/ красивые лица девушек http://himaan.ru/krasivye_devushki/ Виды из кабины пилота Boeing 747 http://himaan.ru/8472-vidy-iz-kabiny-pilota-boeing-747.html http://himaan.ru/1370-shedevr-ot-19-letney-hudozhnicy.html

DavidPhece

November 21 , 2020 - 9:00AM

Перед праздничкамипраздниками и парадными датами всех беспокоят эти вопросы. Мы рекомендуем наилучшие презенты сообразно осмысленным тарифам. Точный поможем с избранием тем, который какойнибудь единожды занят и подадим идею что, который отыскивает чего-нибудь необыкновенное. <a href=https://top-podarok.by/> магазин подарков</a> <a href=https://top-podarok.by/podarok-muzhchine/>подарок мужчине</a> <a href=https://top-podarok.by/podarok-zhenshhine/> подарок любимой женщине</a> <a href=https://top-podarok.by/nedorogie-podarki> подарок мужчине на день рождения недорого</a> <a href=https://top-podarok.by/podarki-detjam>подарки детям</a> <a href=https://top-podarok.by/podarok-na-novyj-god/> подарок мальчику на новый год</a> <a href=https://top-podarok.by/originalnye-podarki/> оригинальные подарки купить</a> <a href=https://top-podarok.by/product-category/kigurumi/> купить пижаму кигуруми</a> <a href=https://top-podarok.by/product-category/gadzhety/> квадрокоптер</a> <a href=https://top-podarok.by/product-category/mashinki-na-pulte-upravlenija-kupit-v-minske/> машинка на радиоуправлении купить в минске</a>