Ambani’s Reliance Retail, founded in 2006, remains the largest retailer in India by revenue. It serves more than 3.5 million customers each week through its nearly 10,000 physical stores in more than 6,500 cities and towns. Ambani’s have expanded their outreach with the launch of JioMart.
JioMart an E commerce extension of Reliance retail is delivering groceries in more than 200 towns across the country. As of now, the JioMart website has listed essential grocery, FMCG goods and farm produce. The company also says it has collaborated with farmers to source selling fruits and vegetables from them.
Also read :https://dairynews7x7.site/milk-basket-may-break-even-in-july-sep-quarter/
Reliance is in advance talks with Milk basket for a possible acquistion. Last month, Milkbasket has raised a fresh $5.5 million in funding led by Inflection Point Ventures . However as per the industry sources Milkbasket will soon be part of JioMart’s basket.
[…] In FY20, Reliance Retail achieved a turnover of ₹1.63 trillion. Reliance Retail also works as the master distributor for Jio connectivity services. RIL will take over the retail, supply-chain and the combined related businesses of Future Group. IT application in supply chain is becoming back bone of every FMCG business and Jio connect with Jio mart are consolidating it at anew scale. Also read Milkbasket may soon be part of JioMart’s basket […]
[…] “We are now working on the process for an IPO… The company is looking at possibly second half next year to launch the IPO. Initially , being an Indian company the thought process is to get listed in India. The reports of Milk basket being in talks to sell the company’s business to Paytm Mall and RIL are untrue. Also read Milkbasket may soon be part of JioMart’s basket […]