Reliance Retail: In the recent years, Mukesh Ambani’s Reliance Retail has grown rapidly expanded its presence in India’s consumer market. By acquiring and partnering with several global brands, the brand has grown immensely under the leadership of Isha Ambani and Mukesh Ambani. As of today, Reliance Retail now owns or operates a range of popular international names, from fashion to toys and lifestyle products. Iconic brands like Hamleys, GAP, and Marks & Spencer have become part of Reliance’s vast retail empire, strengthening its dominance in India’s booming retail sector. Here is a list of brands that are growing under the umbrella of Reliance Retail, under the leadership of Isha Ambani and Mukesh Ambani.
1. GAP: Joint venture
2. NetMeds: Online Pharmacy
3. Hamleys: Toy store
4. Project EVE
5. Cover Story
6. Marks & Spencer
7. Ajio
In another significant update covering Reliance Retail, Reliance Retail Ventures Ltd (RRVL) is reportedly slashing jobs – along with other cost-cutting measures – before making its stock market debut over concerns of slowing down sales. The expansion of Reliance Retail in the past has apparently led to its valuation cut to $50 billion, half the amount at which it raised funds two years back.
It is now limiting expansion in a bid to boost valuations before its initial public offering kicks off, according to a report from news agency IANS.
“The valuation cut, just as the conglomerate plans to list the retail unit does not bode well for early investors, especially when talks of buyback by marquee investors yielded little results,” NDTV Profit reported, citing a Bloomberg report.
The company is also limiting the presence of their physical stores, slashing marketing budgets and merging Reliance Brands Ltd, with its umbrella retail entity, the report mentioned.
(With inputs from agencies)
