Mukesh Ambani, India’s richest man and boss of Reliance Industries Ltd (RIL), is launching an ambitious plan to boost retail revenue as a balance to his energy interests.
RIL will soon hire distributors to sell private-label brands owned by its retail unit through neighbourhood stores – across categories such as staples, food, home and personal care and general merchandise.
RIL sells these products through its retail stores under brand names such as Best Farms, Good Life, Masti Oye, Kaffe, Enzo, Mopz, Expelz and Home One.
Ambani expects the consumer businesses to contribute nearly as much to RIL’s overall earnings as the energy and refining businesses by 2025.
As part of this strategy, RIL is taking on online retailers such as Amazon and Flipkart in the e-commerce segment and the likes of Hindustan Unilever Ltd and ITC Ltd in the offline segment.
Watch this space!
Reliance Retail already operates neighbourhood stores, supermarkets, hypermarkets, wholesale, specialty and online stores.