The 63-year-old business tycoon seeks to widen his retail footprint in the Indian market at an uncertain time, especially when the space is hot for global players such as Amazon as well as local rivals. Several companies have already made it to the billionaire’s shopping cart.
Over the last few weeks, Mukesh Ambani-led Reliance Retail has managed to attract big-ticket investments from global IT giants like Facebook and Google. It is speculated to be holding talks with Amazon and Walmart. The global IT giants’ big-ticket investments are made as Reliance is all set to capitalize on a huge un-penetrated retail market in India. Starting from Qualcomm and Intel to Google and Facebook, the Jio platform has maintained to be valued above Rs 4.5 lakh crore.
The lessons billionaire Mukesh Ambani learned the hard way about the need for prudent succession planning have led him to unusual steps to ensure the continuity of leadership at Reliance Industries Limited, India’s most prized corporate possession.
Mukesh Ambani is eyeing stakes in a host of Indian e-retailers to bolster Reliance’s retail offerings. A number of deals are in the works which, if successful, could help the company compete head-on in a fast-growing online retail market projected to be worth an estimated $170 billion by the end of the next decade.
Mukesh Ambani-led RIL’s new arm JioMart will take on Amazon and Flipkart but with a different warehousing-less strategy aided by a tech acquisition spree.
Mukesh Ambani-led Reliance has been on a tech investment spree with firms like Fynd and Asteria, and though it’s not out in the open, the pattern similar to Amazon’s investment approach suggests the Indian Mogul is gearing up to challenge Jeff Bezos’s monopoly in the e-commerce domain.
Mitsui OSK Lines to acquire stake in six group companies of Reliance Japanese shipping major Mitsui OSK Lines (MOL) will acquire strategic stake in six group companies of Mukesh Ambani-led Reliance Industries Ltd (RIL), it was announced on Wednesday. Reliance…