Reliance Retail, India’s largest retail chain, has discovered a a lot less complicated solution to increase its dominant place within the nation: Acquire a lot of the second largest chain’s models.
On Saturday night (native Indian time), Reliance Retail stated it has reached an settlement with Future Group to accumulate the latter’s retail and wholesaler enterprise, and its logistics and warehousing enterprise for $3.four billion.
“With this transaction, we’re happy to supply a house to the famend codecs and types of Future Group in addition to protect its enterprise ecosystem, which have performed an essential position within the evolution of recent retail in India. We hope to proceed the expansion momentum of the retail trade with our distinctive mannequin of lively collaboration with small retailers and kiranas in addition to giant shopper manufacturers. We are dedicated to proceed offering worth to our customers throughout the nation,” stated Isha Ambani, Director at Reliance Retail, in an announcement.
This is a growing story. More to comply with…