Mukesh Ambani looks to expand retail footprint
Mukesh Ambani is looking to expand his retail footprint ...
Mukesh Ambani is looking to expand his retail footprint by acquiring several ecommerce players. This is being seen as a precursor to the ongoing battle with Amazon for India’s hot ecommerce retail market.
Mukesh Ambani’s Reliance Industries Ltd. (RIL) is in discussions to acquire or buy stakes in furniture outlet, Urban Ladder, lingerie brand, Zivame, and online pharma store, Netmeds. As per reports, Reliance could pay as much as $160 million for Zivame while the Urban Ladder deal could be pegged at about $30 million and Netmeds at $120 million. Milkbasket, a milk company, is also said to be one of the targets. Ambani has raised more than $20 billion by selling equity stake in Jio Platforms.