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Reliance To Purchase Dozens of Brands For $6.5bn

Reliance To Purchase Dozens of Brands For $6.5bn
Photo: Reuters

Reliance, India’s largest retailer, plans to buy a few brands of non-food products, including dozens of grocery stores, soon. The company plans to open a $650cr business. The company has decided to challenge foreign rival companies like Unilever. Reliance, a company owned by billionaire Mukesh Ambani, is planning to build a portfolio of 50-60 grocery stores. Reliance is currently in the final stages of negotiations. The company expects the business to generate annual sales of 6.5 billion over the next five years.┬áThe article contains Reliance To Purchase Dozens of Brands For $6.5bn.

The Indian company will challenge the world’s top consumer organizations through new business plans. These include Nestle, Unilever, Pepsi, and Coca-Cola. However, these companies have been doing significant business in India for decades. For example, the Indian unit of Unilever had sales of 6.5 billion in the financial year ended March. Reliance is ready to take that place.

Meanwhile, Reliance has created several private labels. For example, Cola drinks and packets of noodles are sold by contracted producers in their own retail business. The annual sales revenue from this business is only 3,500 crore rupees or 45 crore US dollars. Foreign companies have always been uncomfortable with Reliance’s supermarket strategy. However, if the new deal is successful, Reliance will implement plans to open a 6.5 billion business. This will create new challenges for other top business organizations.

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