Reliance industries deal making spree hasn’t been ended yet. Ambani has been news maker of the pandemic time either from selling Jio stake to global tech giants and investors to eyeing multiple takeovers in tech and consumer business space.
All about Reliance Industries deals:
RIL is in late-stage talks with Kishore Biyani-led Future Group to buy a controlling stake in its retail business, according to reports. Reliance Industries will also absorb Future Group’s partnerships with foreign brands and retailers. The deal will make RIL the number one player in brick-and-mortar space in India across categories such as fashion, groceries, and merchandise.
Further expanding its strength into online e commerce platform Reliance is looking into acquiring its stake in Urban Ladder, an online furniture brand with $30 million and pump in more money to expand its presence in the online consumer business.
The globally famous controversial social media platform Tiktok owner ByteDance is in talks with oil to retail conglomerate RIL to financially back its Indian business which has acquired around 200 million subscribers at the time of ban in India on June 29 over national security and data privacy concerns.
In the midst of rise in online grocery shopping demand due to pandemic, Milkbasket which delivers 9,000 products to various house holds in the cities of India, RIL is looking forward to cash on. Though Milkbasket has earlier talks with Amazon and Bigbasket, RIL is in advanced stage of negotiations.
Relaince retail has bought a 60% stake in pharma marketplace Netmeds’ parent firm Vitalic for about $83.2 million, it said today, as India’s largest retail chain looks to expand into new categories after Amazon has made it foray into e commerce pharma market.
Reliance Retail plans to expand its ownership in Vitalic to at least 80% by April 2024 and holds the rights to own 100% in the future.
Reliance brands subsidiary of RIL brought 15% stake in luxury brand Zivame, founded by Richa Kar in 2011. Zivame a thriving start-up has 30-plus retail stores and a presence in more than 800 partner stores across the country. Apart from RIL, Malaysian sovereign fund Khazanah Nasional Berhad owns about 25 per cent. Though Reliance Industries is looking to own more stake ahead.