Couple of months back Reliance did a big acquisition in retail sector but look like this news did not get much coverage and most of the people are still not aware of this deal, Actually I checked the sites of both companies and look like this information is not updated on their sites too. The acquistion here I am talking about is acqusition of Big Baazar stores by Reliance.
Big Baazar store near my home looks operating normally and I do not see any "Reliance logo" or something that hint that deal is already signed and closed.
Kishor Biyani, who sold this retail business to Reliance Retail Ventures Limited (RRVL), subsidiary of Reliance Industries for the more than 247 Billion rupees (equivalent to 3.36 Biliion US dollars).
Reliance Retail is currently headed by Isha Ambani,daughter of Mukesh Ambani who is currently at feuturing at Number 6 on Forbes World richest list and chaiman of Reliance Industies that has presence on large number of sectors including energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
It will be interesting to see now how International player like Amazon will compete with Reliance because Reliance is also actively strengthening it online marketing and latest online grocery offering by Jio Mart's is the example of it. It is also reported that within it's 2 month of launch Jio mart's daily orders(250K daily) already surpassed Amazon India count by big margins (150K) daily.
Retail sector is not at all new for Reliance as they already have offering of groceries under "Reliance fresh" , Apparels under "Reliance trends" and Electronics items under "Reliance digitals" and they all used to have separate store but in Big Bazaar model Reliance can combine all its retail operations under single roof at same place.
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