India’s richest man to target retail as a balance to energy investments

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.

Mukesh Ambani

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.

Author: Stephen Manallack

Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand. Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication. Passionate campaigner for closer western relations with India. Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India. A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.

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