Hi friends,
In this video I am going to disclose the mega deal whick took place between Reliance Retail Ventures (RRVL) and Future group.
Burdened with debt, Kishore Biyani sells Big Bazaar to Reliance
Reliance Retail, which has a store count of 11,806 outlets across 7,000 towns in the country now aquires Future Group retail.
Kishore Biyani confirmed selling his Future Group to Reliance Industries. In a slump sale transaction worth Rs 24,713 crore, RIL bought out the wholesale, retail logistics and warehousing businesses of the Future Group.
The retail business also covers the firm’s chain of electronics stores besides its portfolio of lifestyle stores, Central and Brand Factory. Future Retail has a footprint spanning more than 1,500 stores in over 400 cities and towns across the country.
Reliance Retail, which has a store count of 11,806 outlets across 7,000 towns in the country, had earlier said that store expansion remains a ‘thrust’ for the business. Besides strengthening the company’s footprint, the transaction is also expected to significantly add to JioMart’s offerings that plans to expand beyond grocery.
As part of the deal, the Retail & Wholesale Undertaking is being transferred to Reliance Retail and Fashion Lifestyle Limited (RRFLL), a wholly-owned subsidiary of Reliance Retail Ventures (RRVL). The Logistics & Warehousing Undertaking is being transferred to RRVL.
In short Reliance Retial in form of Jio Mart is planning to become the retain king of India competing with Amazon and Walmart.
The Indian consumers are expecting cheaper prices along to quality and trust worthy products promoting Make in India initiatives.
Hopefully, I am able to make this clear to you.
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Name: SANTU MAJUMDER
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