Mukesh Ambani once again has taken a bigger step in continuation of his business expansion plan. Now the chairman of Reliance Industries is preparing to launch a new business venture which will make a significant impact not just in India but also in several countries worldwide.  Reliance Retail already India’s largest retail company is preparing to form a joint venture with global brand Mothercare PLC. The new company formed from this partnership will not only operate in India but also in neighboring countries like Nepal Sri Lanka Bhutan and Bangladesh. Mukesh Ambani Stake In Joint Venture Mothercare is well-known worldwide for its products related to infants and parenting. In this joint venture between Reliance Retail Ventures Limited and Mothercare PLC Reliance will hold a 51% stake while Mothercare will retain the remaining 49%. The creation of this joint venture will be executed through Reliance Brands Holding UK Limited (RBL UK) a wholly-owned subsidiary of Reliance Brands Limited. This new entity will own all intellectual property rights for the Mothercare brand in India and other neighboring countries. Reliance Retail JV With Mothercare RBL UK will acquire this stake for a cash price of £16 million. The joint venture will act as a franchise for the Mothercare brand in South Asia. The venture will benefit from Reliances strong market presence in the region and Mothercare’s global brand image creating new growth opportunities. Darshan Mehta Managing Director of Reliance Brands commented “Mothercare has been a trusted name for parents in India for years. This joint venture marks an exciting new chapter in our partnership.” Reliance Brands first acquired the rights to the famous UK-based Mothercare brand for the Indian market in 2018. Currently operates 87 stores across 25 cities in addition to a strong presence on e-commerce platforms. Clive Whiley Chairman of Mothercare said Todays agreement strengthens our operations in South Asia through an even closer working relationship with Reliance our existing valued franchise partner and underlines the intrinsic value of the Mothercare brand strength.  (With Inputs from PTI)