16 May 2022, Mumbai:
ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting
Reliance is in the final stages of negotiations with around 30 popular niche local brands to fully acquire them or form JV/joint venture partnerships for sales.
Investment outlay to acquire brands is not clear, but Reliance aims to achieve rupees 50000 crore which is 6.5 billion USD of annual sales from the business within 5 years.
It targets building its own 6.5 billion USD consumer goods business to challenge foreign giants like HUL, two sources familiar with the plan told Reuters.
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CREDITS: TOI Dt 16-05-2022 (The news article has not been edited by DFU Publications staff).